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

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, May 5th. Stockholders of record on Thursday, August 20th will be given a dividend of 0.16 per share on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Thursday, August 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 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 research 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 Stock Performance

Shares of NYSE:XRN opened at $36.46 on Tuesday. The business’s 50-day simple moving average is $36.63 and its 200 day simple moving average is $35.83. The company has a market cap of $482.73 million, a P/E ratio of 9.80 and a beta of 1.09. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. Global Medical REIT has a one year low of $29.05 and a one year high of $39.93.

Global Medical REIT (NYSE:XRN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $3.95. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%.The firm had revenue of $39.75 million during the quarter. On average, sell-side analysts forecast that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on XRN. Compass Point reissued a “neutral” rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citizens Jmp raised their target price on Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 26th. Raymond James Financial started coverage on Global Medical REIT in a research report on Wednesday, June 17th. They set a “market perform” rating on the stock. Finally, Zacks Research upgraded Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.25.

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.