Global Medical REIT Inc. (XRN) To Go Ex-Dividend on May 20th

Global Medical REIT Inc. (NYSE:XRN) declared a monthly dividend on Tuesday, February 24th. Investors of record on Wednesday, May 20th will be given a dividend of 0.25 per share on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend is Wednesday, May 20th.

Global Medical REIT has decreased its dividend payment by an average of 0.0%per year over the last three years. Global Medical REIT has a 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 0.0%

XRN opened at $33.54 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.68 and a current ratio of 0.68. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $39.93. The firm’s fifty day moving average is $34.93 and its 200 day moving average is $34.48. The stock has a market cap of $443.68 million, a price-to-earnings ratio of -30.21 and a beta of 1.11.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Compass Point restated a “neutral” rating and issued a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company 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.