Global Medical REIT Inc. (GMRE) To Go Ex-Dividend on March 21st

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Friday, March 21st will be paid a dividend of 0.21 per share on Wednesday, April 9th. This represents a $0.84 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date is Friday, March 21st.

Global Medical REIT has decreased its dividend by an average of 0.2% per year over the last three years. Global Medical REIT has a payout ratio of 1,050.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Medical REIT to earn $0.84 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 100.0%.

Global Medical REIT Price Performance

Global Medical REIT stock opened at $8.83 on Friday. The company has a market cap of $589.67 million, a P/E ratio of -441.13, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24. Global Medical REIT has a one year low of $7.33 and a one year high of $10.46. The business has a fifty day moving average of $7.97 and a two-hundred day moving average of $8.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.01 by $0.21. The firm had revenue of $35.16 million during the quarter, compared to analysts’ expectations of $34.87 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. As a group, analysts predict that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

About Global Medical REIT

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.