Global Medical REIT Inc. (XRN) to Distribute Monthly Dividend of $0.16 on October 16th

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, August 18th. Stockholders of record on Monday, September 21st will be paid a dividend of 0.16 per share on Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, September 21st.

Global Medical REIT has decreased its dividend payment by an average of 0.0%per year over the last three years. Global Medical REIT has a payout ratio of 3,840.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Medical REIT to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 87.3%.

Global Medical REIT Trading Down 0.5%

XRN opened at $35.94 on Friday. Global Medical REIT has a one year low of $29.05 and a one year high of $39.93. The stock has a market capitalization of $475.85 million, a PE ratio of 9.66 and a beta of 1.10. The business’s 50 day moving average price is $36.65 and its 200 day moving average price is $35.97. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59.

Global Medical REIT (NYSE:XRN) last posted its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $3.95. The company had revenue of $39.75 million during the quarter. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%. As a group, equities research analysts expect that Global Medical REIT will post 2.89 EPS for the current year.

Insider Transactions at Global Medical REIT

In related news, CEO Mark Okey Decker, Jr. bought 8,000 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $35.88 per share, for a total transaction of $287,040.00. Following the acquisition, the chief executive officer owned 67,774 shares in the company, valued at $2,431,731.12. This represents a 13.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Aaron Roseth purchased 13,500 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $36.73 per share, with a total value of $495,855.00. Following the transaction, the chief operating officer directly owned 13,500 shares of the company’s stock, valued at $495,855. This represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 71,525 shares of company stock valued at $2,579,304 in the last ninety days. Corporate insiders own 8.90% of the company’s stock.

Institutional Trading of Global Medical REIT

A number of large investors have recently made changes to their positions in the stock. Clifford Capital Partners LLC lifted its holdings in Global Medical REIT by 31.3% in the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock valued at $496,000 after purchasing an additional 3,504 shares in the last quarter. Heartland Advisors Inc. raised its position in shares of Global Medical REIT by 177.4% in the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after buying an additional 270,786 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Global Medical REIT by 11.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company’s stock valued at $661,000 after buying an additional 2,000 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Global Medical REIT during the fourth quarter valued at approximately $92,000. Finally, Arrow Investment Advisors LLC boosted its position in Global Medical REIT by 339.7% during the fourth quarter. Arrow Investment Advisors LLC now owns 28,028 shares of the company’s stock worth $946,000 after acquiring an additional 21,654 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Company Profile

Global Medical REIT Inc is a healthcare-focused real estate investment trust that acquires, owns and manages medical office buildings and other healthcare-related properties. Its portfolio has primarily included outpatient facilities leased to physician groups, specialty medical providers and healthcare systems.

The company generally operates under long-term, often triple-net leases, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.