Global Medical REIT Inc. (GMRE) To Go Ex-Dividend on March 21st

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Thursday, March 7th, Zacks reports. Shareholders of record on Friday, March 22nd will be given a dividend of 0.21 per share on Tuesday, April 9th. This represents a $0.84 annualized dividend and a dividend yield of 9.68%. The ex-dividend date of this dividend is Thursday, March 21st.

Global Medical REIT has increased its dividend payment by an average of 1.6% per year 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 $8.68 on Tuesday. The firm’s fifty day moving average price is $9.66 and its two-hundred day moving average price is $9.70. The company has a market cap of $568.82 million, a P/E ratio of 37.72 and a beta of 1.13. Global Medical REIT has a one year low of $8.04 and a one year high of $11.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.17 and a quick ratio of 0.17.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GMRE. US Bancorp DE increased its stake in shares of Global Medical REIT by 57.6% in the 2nd quarter. US Bancorp DE now owns 2,943 shares of the company’s stock valued at $27,000 after acquiring an additional 1,076 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Global Medical REIT in the 2nd quarter valued at $43,000. Tower Research Capital LLC TRC increased its stake in shares of Global Medical REIT by 227.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,646 shares of the company’s stock valued at $48,000 after acquiring an additional 3,920 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Global Medical REIT in the 2nd quarter valued at $55,000. Finally, Russell Investments Group Ltd. acquired a new stake in Global Medical REIT in the 1st quarter valued at $65,000. Institutional investors own 56.46% 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.