Global Medical REIT Inc. (GMRE) to Issue Quarterly Dividend of $0.21 on April 9th

Global Medical REIT Inc. (NYSE:GMRE) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Friday, March 21st will be paid a dividend of 0.21 per share on Wednesday, April 9th. This represents a $0.84 annualized dividend and a yield of 9.58%. The ex-dividend date is Friday, March 21st.

Global Medical REIT has decreased its dividend by an average of 0.2% annually over the last three years. Global Medical REIT has a payout ratio of 1,200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Global Medical REIT to earn $0.84 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 100.0%.

Global Medical REIT Trading Down 0.4 %

Global Medical REIT stock opened at $8.77 on Wednesday. Global Medical REIT has a 1 year low of $7.33 and a 1 year high of $10.46. The firm’s 50 day moving average price is $8.24 and its 200-day moving average price is $8.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $586.12 million, a P/E ratio of -438.03, a PEG ratio of 1.43 and a beta of 1.26.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.21. The company had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.87 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. On average, equities analysts predict that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

About Global Medical REIT

Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.