Global Medical REIT Inc. (XRN) To Go Ex-Dividend on June 22nd
by Scott Moore · The Cerbat GemGlobal Medical REIT Inc. (NYSE:XRN – Get Free Report) declared a monthly dividend on Tuesday, May 5th. Stockholders of record on Monday, June 22nd will be given a dividend of 0.16 per share on Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. 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 16.7%
NYSE XRN traded down $5.95 during trading hours on Thursday, reaching $29.64. The company had a trading volume of 118,984 shares, compared to its average volume of 100,036. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $392.19 million, a P/E ratio of -32.41 and a beta of 1.11. The stock has a 50-day moving average of $35.24 and a 200 day moving average of $34.39. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $39.93.
Analyst Upgrades and Downgrades
XRN has been the subject of a number of research analyst reports. Compass Point reaffirmed a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research report on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Medical REIT in a report on Monday, April 20th. Finally, Wall Street Zen raised Global Medical REIT from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.67.
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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.