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

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, May 5th. Stockholders of record on Monday, June 22nd will be given a dividend of 0.16 per share on Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Monday, June 22nd.

Global Medical REIT has decreased its dividend by an average of 0.0%per year 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 Up 0.7%

XRN stock opened at $35.60 on Thursday. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $39.93. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $471.04 million, a P/E ratio of -39.56 and a beta of 1.11. The firm has a 50 day simple moving average of $35.24 and a 200-day simple moving average of $34.39.

Hedge Funds Weigh In On Global Medical REIT

A number of hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its holdings in Global Medical REIT by 0.8% in the fourth quarter. Marshall Wace LLP now owns 38,244 shares of the company’s stock worth $1,290,000 after purchasing an additional 308 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Global Medical REIT by 7.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company’s stock worth $163,000 after purchasing an additional 332 shares during the period. Fifth Third Bancorp boosted its holdings in Global Medical REIT by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock worth $48,000 after purchasing an additional 370 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after purchasing an additional 721 shares during the period. Finally, Virtus Advisers LLC boosted its holdings in Global Medical REIT by 46.5% in the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock worth $82,000 after purchasing an additional 768 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.