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

Key Points

• Global Medical REIT declared a monthly dividend of $0.16 per share, with an ex‑dividend/record date of June 22 and a payment date of July 17, implying a roughly 5.4% annualized yield.
• The dividend appears unsustainably covered: Global Medical REIT has a reported dividend payout ratio of 6,000%, meaning earnings do not cover the payout and the company is relying on its balance sheet to fund distributions.
• The stock trades around $35.60 with a market cap of about $471 million and a negative P/E of -39.56, and a 12‑month range of $29.05 to $39.93, indicating mixed valuation and performance signals.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) declared a monthly dividend on Tuesday, May 5th. Stockholders of record on Monday, June 22nd will be given a dividend of 0.16 per share on Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, June 22nd.

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% meaning 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 Trading Up 0.7%

NYSE XRN opened at $35.60 on Thursday. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $39.93. The company has a 50-day moving average of $35.24 and a 200-day moving average of $34.39. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market cap of $471.04 million, a P/E ratio of -39.56 and a beta of 1.11.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.