Global Medical REIT Inc. (NYSE:GMRE) Plans Quarterly Dividend of $0.75

Global Medical REIT Inc. (NYSE:GMRE) announced a quarterly dividend on Thursday, December 4th. Investors of record on Friday, December 19th will be paid a dividend of 0.75 per share on Friday, January 9th. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date is Friday, December 19th.

Global Medical REIT has raised its dividend payment 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. Research analysts expect Global Medical REIT to earn $0.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 357.1%.

Global Medical REIT Stock Performance

GMRE opened at $32.64 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.65. The stock’s 50 day moving average price is $32.09 and its two-hundred day moving average price is $33.66. The firm has a market capitalization of $437.64 million, a P/E ratio of -130.54 and a beta of 1.17. Global Medical REIT has a 12-month low of $29.05 and a 12-month high of $45.75.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.07. The company had revenue of $37.23 million during the quarter, compared to analysts’ expectations of $38.15 million. Global Medical REIT had a return on equity of 0.25% and a net margin of 0.79%.Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. On average, equities analysts forecast that Global Medical REIT will post 0.81 earnings per share for the current year.

Global Medical REIT declared that its board has approved a stock buyback plan on Wednesday, August 13th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 11.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Global Medical REIT Company Profile

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.