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

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Investors of record on Friday, December 20th will be paid a dividend of 0.21 per share on Wednesday, January 8th. This represents a $0.84 annualized dividend and a yield of 9.67%. The ex-dividend date of this dividend is Friday, December 20th.

Global Medical REIT has raised its dividend payment by an average of 18.0% annually over the last three years. Global Medical REIT has a payout ratio of 1,400.0% 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 Stock Down 0.8 %

GMRE stock traded down $0.07 during trading on Thursday, hitting $8.69. The stock had a trading volume of 361,597 shares, compared to its average volume of 382,115. The company’s 50 day moving average price is $9.16 and its two-hundred day moving average price is $9.24. Global Medical REIT has a 1-year low of $7.98 and a 1-year high of $11.59. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The firm had revenue of $34.26 million during the quarter, compared to analyst estimates of $34.88 million. During the same period in the previous year, the firm posted $0.23 EPS. Sell-side analysts forecast that Global Medical REIT will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

GMRE has been the subject of several recent analyst reports. Alliance Global Partners initiated coverage on Global Medical REIT in a report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target for the company. Berenberg Bank initiated coverage on Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 price target for the company.

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.