Global Medical REIT Plans Quarterly Dividend of $0.20 (GMRE)

Global Medical REIT (NYSE:GMRE) declared a quarterly dividend on Thursday, March 8th, Wall Street Journal reports. Shareholders of record on Thursday, March 22nd will be given a dividend of 0.20 per share on Tuesday, April 10th. This represents a $0.80 annualized dividend and a dividend yield of 11.48%. The ex-dividend date of this dividend is Wednesday, March 21st.

Shares of Global Medical REIT stock traded down $0.03 during mid-day trading on Friday, hitting $6.97. 102,242 shares of the stock were exchanged, compared to its average volume of 172,479. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.91. The stock has a market cap of $151.41, a P/E ratio of 12.91, a P/E/G ratio of 1.03 and a beta of 0.46. Global Medical REIT has a 12 month low of $6.34 and a 12 month high of $10.25.

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Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Wednesday, March 7th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.15). Global Medical REIT had a negative return on equity of 0.88% and a negative net margin of 5.01%. The company had revenue of $9.87 million during the quarter, compared to the consensus estimate of $10.33 million. equities analysts anticipate that Global Medical REIT will post 0.76 EPS for the current year.

In other Global Medical REIT news, Chairman Jeffrey Busch purchased 6,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was acquired at an average cost of $7.13 per share, with a total value of $42,780.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.51% of the company’s stock.

An institutional investor recently raised its position in Global Medical REIT stock. State Street Corp grew its position in shares of Global Medical REIT (NYSE:GMRE) by 9.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,183 shares of the company’s stock after acquiring an additional 20,804 shares during the period. State Street Corp’s holdings in Global Medical REIT were worth $2,094,000 as of its most recent SEC filing. Institutional investors and hedge funds own 44.72% of the company’s stock.

GMRE has been the subject of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Global Medical REIT in a research report on Wednesday, March 7th. They set a “buy” rating and a $12.00 price target for the company. Zacks Investment Research lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. DA Davidson upgraded shares of Global Medical REIT from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Wednesday, March 28th. Finally, B. Riley reiterated a “buy” rating on shares of Global Medical REIT in a research report on Thursday, March 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.70.

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Global Medical REIT Company Profile

Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.

Dividend History for Global Medical REIT (NYSE:GMRE)

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