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

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders 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 9.52%. The ex-dividend date of this dividend 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 dividend payout ratio of 1,050.0% 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 Price Performance

Shares of NYSE GMRE traded up $0.35 during mid-day trading on Friday, reaching $8.83. The company had a trading volume of 1,300,098 shares, compared to its average volume of 497,984. Global Medical REIT has a one year low of $7.33 and a one year high of $10.46. The business’s 50-day simple moving average is $7.95 and its 200 day simple moving average is $8.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $589.67 million, a price-to-earnings ratio of -441.13, a PEG ratio of 1.43 and a beta of 1.24.

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