Global Medical REIT Inc. (NYSE:XRN) Announces Monthly Dividend of $0.16

Global Medical REIT Inc. (NYSE:XRN) declared a monthly dividend on Tuesday, August 18th. Investors of record on Tuesday, October 20th will be paid a dividend of 0.16 per share on Friday, November 13th. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Tuesday, October 20th.

Global Medical REIT has decreased its dividend by an average of 0.0%annually over the last three years. Global Medical REIT has a payout ratio of 3,840.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Medical REIT to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 87.3%.

Global Medical REIT Stock Down 0.3%

Shares of NYSE XRN opened at $36.27 on Wednesday. Global Medical REIT has a 52-week low of $29.05 and a 52-week high of $39.93. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $480.23 million, a P/E ratio of 9.75 and a beta of 1.09. The firm has a 50 day moving average price of $36.61 and a 200 day moving average price of $35.84.

Global Medical REIT (NYSE:XRN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $3.95. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. The company had revenue of $39.75 million for the quarter. Analysts expect that Global Medical REIT will post 2.89 EPS for the current year.

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.