Global Medical REIT Inc. (XRN) to Distribute Monthly Dividend of $0.16 on November 13th

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, August 18th. Investors of record on Tuesday, October 20th will be given a dividend of $0.16 per share on Friday, November 13th. This represents a $1.92 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Tuesday, October 20th.

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 Stock Performance

Shares of NYSE XRN opened at $30.25 on Friday. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $38.65. The company has a market cap of $400.44 million, a P/E ratio of 8.13 and a beta of 1.12. The business’s 50 day moving average is $35.65 and its two-hundred day moving average is $35.76. 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 posted its quarterly earnings results 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 firm had revenue of $39.75 million during the quarter. On average, equities analysts expect that Global Medical REIT will post 2.89 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Global Medical REIT in a report on Monday, September 21st. They set an “overweight” rating and a $43.00 price objective for the company. Zacks Research raised shares of Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Huntington assumed coverage on shares of Global Medical REIT in a research note on Thursday, September 10th. They issued a “market perform” rating and a $37.00 price target on the stock. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, BMO Capital Markets increased their price objective on shares of Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Global Medical REIT currently has a consensus rating of “Hold” and a consensus target price of $40.17.

Global Medical REIT Company Profile

Global Medical REIT Inc was a healthcare-focused real estate investment trust that owned and operated income-producing medical properties. The company primarily invested in outpatient medical office buildings, specialty facilities and other healthcare-related real estate leased to healthcare providers, physician groups and hospital systems.

Its portfolio historically included properties across the United States, with tenants providing services such as primary care, specialty care, diagnostic testing, surgery and rehabilitation.