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

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) declared a quarterly dividend on Wednesday, May 28th, RTT News reports. Stockholders of record on Friday, June 20th will be paid a dividend of 0.15 per share on Wednesday, July 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.43%.

Global Medical REIT has decreased its dividend payment by an average of 0.2% annually over the last three years. Global Medical REIT has a payout ratio of 1,200.0% 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 research 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 Stock Performance

Shares of GMRE stock traded up $0.02 on Friday, hitting $6.36. 606,414 shares of the stock were exchanged, compared to its average volume of 466,646. The firm's 50 day moving average is $7.34 and its two-hundred day moving average is $7.96. Global Medical REIT has a one year low of $6.06 and a one year high of $10.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $425.30 million, a PE ratio of -317.84, a P/E/G ratio of 1.43 and a beta of 1.23.

Global Medical REIT (NYSE:GMRE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The firm had revenue of $34.60 million for the quarter, compared to analysts' expectations of $35.49 million. Sell-side analysts expect that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on GMRE. Robert W. Baird dropped their price target on Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. B. Riley started coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They set a "neutral" rating and a $9.00 target price for the company. 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 analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.44.

Institutional Trading of Global Medical REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in GMRE. AQR Capital Management LLC lifted its holdings in Global Medical REIT by 9.5% in the 1st quarter. AQR Capital Management LLC now owns 58,538 shares of the company's stock valued at $512,000 after acquiring an additional 5,062 shares during the last quarter. Jones Financial Companies Lllp raised its stake 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 acquiring an additional 23,920 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Global Medical REIT by 13.2% in the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company's stock valued at $3,400,000 after buying an additional 45,243 shares in the last quarter. Finally, Strs Ohio bought a new position in Global Medical REIT during the first quarter worth about $95,000. 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.