Global Medical REIT Inc. (NYSE:GMRE) Announces $0.21 Quarterly Dividend

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Thursday, September 5th, NASDAQ reports. Investors of record on Friday, September 20th will be given a dividend of 0.21 per share on Tuesday, October 8th. This represents a $0.84 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date is Friday, September 20th.

Global Medical REIT has increased its dividend by an average of 18.0% annually over the last three years. Global Medical REIT has a dividend payout ratio of 1,680.0% 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 $0.88 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 95.5%.

Global Medical REIT Trading Up 0.8 %

Shares of NYSE:GMRE opened at $10.15 on Wednesday. Global Medical REIT has a fifty-two week low of $7.98 and a fifty-two week high of $11.59. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.20. The company has a market cap of $665.72 million, a PE ratio of 44.13, a P/E/G ratio of 1.39 and a beta of 1.24. The company’s 50-day moving average price is $9.39 and its 200 day moving average price is $8.97.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). The firm had revenue of $34.24 million during the quarter, compared to analyst estimates of $35.24 million. Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. During the same quarter last year, the company earned $0.23 EPS. Sell-side analysts anticipate that Global Medical REIT will post 0.85 earnings per share for the current year.

Global Medical REIT Company Profile

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.