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

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, August 18th. Stockholders of record on Friday, November 20th will be paid a dividend of 0.16 per share on Friday, December 18th. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, November 20th.

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 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. 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 Down 0.3%

NYSE:XRN opened at $36.27 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $480.23 million, a PE ratio of 9.75 and a beta of 1.09. The firm’s 50 day moving average is $36.61 and its 200 day moving average is $35.84. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $39.93.

Global Medical REIT (NYSE:XRN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, beating the consensus estimate 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 business had revenue of $39.75 million for the quarter. Sell-side analysts expect that Global Medical REIT will post 2.89 earnings per share for the current year.

Wall Street Analyst Weigh In

XRN has been the topic of several research reports. BMO Capital Markets boosted their target price on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Raymond James Financial initiated coverage on Global Medical REIT in a research note on Wednesday, June 17th. They set a “market perform” rating for the company. Compass Point reissued a “neutral” rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of Global Medical REIT to a “hold” rating in a report 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.25.

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.