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

Key Points

• Global Medical REIT declared a monthly dividend of $0.16 per share (record date: July 20, payable August 14), which annualizes to a yield of about 6.3%.
• The company’s reported dividend payout ratio is an extreme 6,000.0%, indicating the dividend is not covered by earnings and is being sustained via the balance sheet.
• Shares have fallen (article notes a 14.6% decline), the stock trades around $30.40 with a negative P/E and a debt-to-equity ratio of about 1.62, suggesting elevated financial risk.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) declared a monthly dividend on Wednesday, May 6th. Shareholders of record on Monday, July 20th will be given a dividend of 0.16 per share on Friday, August 14th. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date is Monday, July 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 6,000.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Global Medical REIT Stock Down 14.6%

XRN opened at $30.40 on Thursday. The business has a 50 day simple moving average of $35.24 and a 200-day simple moving average of $34.39. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $39.93. The stock has a market capitalization of $402.21 million, a P/E ratio of -34.17 and a beta of 1.11. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.61 and a quick ratio of 0.61.

About Global Medical REIT

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.

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