Global Medical REIT Inc. (NYSE:XRN) Declares Monthly Dividend of $0.16
by Jessica Moore · The Cerbat GemGlobal Medical REIT Inc. (NYSE:XRN – Get Free Report) announced a monthly dividend on Tuesday, May 5th. Shareholders of record on Monday, June 22nd will be paid a dividend of 0.16 per share on Friday, July 17th. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, June 22nd.
Global Medical REIT has decreased its dividend payment by an average of 0.0%annually 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 Trading Down 14.6%
NYSE:XRN opened at $30.40 on Thursday. The stock has a fifty day simple moving average of $35.24 and a 200 day simple moving average of $34.39. The firm has a market capitalization of $402.21 million, a price-to-earnings ratio of -34.17 and a beta of 1.11. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $39.93. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.62.
Global Medical REIT Company Profile
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.