Global Medical REIT Inc. (NYSE:GMRE) Plans Quarterly Dividend of $0.15

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) announced a quarterly dividend on Wednesday, May 28th, RTT News reports. Stockholders of record on Friday, June 20th will be given a dividend of 0.15 per share on Wednesday, July 9th. This represents a $0.60 annualized dividend and a dividend yield of 9.48%.

Global Medical REIT has decreased its dividend payment by an average of 0.2% per year over the last three years. Global Medical REIT has a dividend payout ratio of 1,200.0% meaning 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 $0.84 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 71.4%.

Global Medical REIT Trading Down 0.5%

NYSE:GMRE traded down $0.03 on Monday, reaching $6.33. The company's stock had a trading volume of 747,650 shares, compared to its average volume of 468,065. Global Medical REIT has a 12-month low of $6.06 and a 12-month high of $10.46. The stock has a 50 day moving average price of $7.34 and a 200 day moving average price of $7.95. The firm has a market cap of $423.29 million, a price-to-earnings ratio of -316.34, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $34.60 million during the quarter, compared to analyst estimates of $35.49 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. On average, equities analysts anticipate that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GMRE shares. B. Riley started coverage on Global Medical REIT in a research note on Thursday, April 3rd. They set a "neutral" rating and a $9.00 target price on the stock. Robert W. Baird reduced their price target on shares of Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen cut shares of Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $10.44.

Hedge Funds Weigh In On Global Medical REIT

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in shares of Global Medical REIT by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company's stock worth $3,400,000 after acquiring an additional 45,243 shares in the last quarter. AQR Capital Management LLC increased its stake in Global Medical REIT by 9.5% in the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company's stock valued at $512,000 after purchasing an additional 5,062 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Global Medical REIT by 23,920.0% during the first quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company's stock worth $210,000 after purchasing an additional 23,920 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Global Medical REIT during the 1st quarter worth approximately $95,000. Hedge funds and other institutional investors own 57.52% of the company's stock.

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.