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

Global Medical REIT Inc. (NYSE:GMRE) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Friday, March 21st will be given a dividend of 0.21 per share on Wednesday, April 9th. This represents a $0.84 annualized dividend and a dividend yield of 9.52%. 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 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 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 GMRE traded up $0.35 during mid-day trading on Friday, hitting $8.83. 1,300,100 shares of the company were exchanged, compared to its average volume of 497,990. Global Medical REIT has a 1-year low of $7.33 and a 1-year high of $10.46. 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 company has a 50 day moving average of $7.95 and a 200-day moving average of $8.75. The stock has a market cap of $589.67 million, a price-to-earnings ratio of -441.13, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.21. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The firm had revenue of $35.16 million during the quarter, compared to the consensus estimate of $34.87 million. Analysts expect that Global Medical REIT will post 0.81 EPS 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.