Global Medical REIT Inc. (XRN) To Go Ex-Dividend on August 20th

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, May 5th. Investors of record on Thursday, August 20th will be given a dividend of 0.16 per share on Friday, September 18th. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Thursday, August 20th.

Global Medical REIT has decreased its dividend by an average of 0.0%per year over the last three years. Global Medical REIT has a dividend payout ratio of 6,000.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Global Medical REIT Stock Performance

XRN stock traded down $4.25 during trading on Thursday, reaching $31.34. The company had a trading volume of 316,714 shares, compared to its average volume of 102,042. The firm has a 50-day simple moving average of $35.24 and a 200-day simple moving average of $34.39. The company has a market cap of $414.59 million, a price-to-earnings ratio of -35.43 and a beta of 1.11. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.61 and a current ratio of 0.61. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $39.93.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on XRN. Wall Street Zen raised shares of Global Medical REIT from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Global Medical REIT in a research report on Monday, April 20th. Finally, Compass Point reissued a “neutral” rating and set a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.67.

Global Medical REIT Company Profile

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.