Global Medical REIT Inc. (NYSE:GMRE – Get Free Report) announced a quarterly dividend on Thursday, June 6th, Zacks reports. Shareholders of record on Friday, June 21st will be given a dividend of 0.21 per share on Tuesday, July 9th. This represents a $0.84 dividend on an annualized basis and a yield of 9.11%. The ex-dividend date is Friday, June 21st.
Global Medical REIT has increased its dividend payment by an average of 18.0% annually over the last three years. Global Medical REIT has a payout ratio of 1,400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Medical REIT to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 88.4%.
Global Medical REIT Price Performance
NYSE:GMRE opened at $9.22 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a market cap of $604.74 million, a P/E ratio of 40.09, a PEG ratio of 1.28 and a beta of 1.21. The company has a fifty day moving average price of $8.70 and a 200 day moving average price of $9.43. Global Medical REIT has a one year low of $7.98 and a one year high of $11.59.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Global Medical REIT
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.
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