Global Medical REIT Inc. (XRN) to Distribute Monthly Dividend of $0.16 on December 18th

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, August 18th. Stockholders of record on Friday, November 20th will be given a dividend of 0.16 per share on Friday, December 18th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Friday, November 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. Equities 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 Trading Up 2.1%

XRN opened at $36.88 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 fifty day moving average of $36.61 and a 200-day moving average of $35.86. The stock has a market cap of $488.28 million, a PE ratio of 9.91 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 (NYSE:XRN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $39.75 million for the quarter. On average, sell-side analysts predict that Global Medical REIT will post 2.89 EPS for the current 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.