Global Medical REIT Inc. (NYSE:XRN) to Issue $0.16 Monthly Dividend

Global Medical REIT Inc. (NYSE:XRN) announced 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 dividend 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 dividend payout ratio of 3,840.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Performance

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

Global Medical REIT (NYSE:XRN) last released its earnings results on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $39.75 million for the quarter. Sell-side analysts predict that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

About Global Medical REIT

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.