Global Medical REIT Inc. Declares Monthly Dividend of $0.16 (NYSE:XRN)

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Wednesday, May 6th. Investors of record on Monday, July 20th will be paid a dividend of 0.16 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, July 20th.

Global Medical REIT has decreased its dividend payment by an average of 0.0%annually over the last three years. Global Medical REIT has a dividend payout ratio of 6,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Global Medical REIT Stock Down 14.6%

XRN stock opened at $30.40 on Thursday. The company has a 50 day moving average price of $35.24 and a two-hundred day moving average price of $34.39. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market capitalization of $402.21 million, a P/E ratio of -34.17 and a beta of 1.11. Global Medical REIT has a one year low of $29.05 and a one year high of $39.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on XRN shares. Wall Street Zen upgraded Global Medical REIT from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Global Medical REIT in a report on Monday, April 20th. Finally, Compass Point reaffirmed a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Global Medical REIT presently has an average rating of “Moderate Buy” and an average target price of $39.67.

Global Medical REIT Company Profile

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.