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Global Medical REIT said on March 10, 2023 that its board of directors declared a regular
quarterly dividend of $0.21 per share ($0.84 annualized).
Previously, the company paid $0.21 per share.
Shares must be purchased before the ex-div date of March 23, 2023 to qualify for the dividend.
Shareholders of record as of March 24, 2023
will receive the payment on April 11, 2023.
At the current share price of $9.21 / share,
the stock’s dividend yield is 9.12%.
Looking back five years and taking a sample every week, the average dividend yield has been
7.14%,
the lowest has been 4.58%,
and the highest has been 12.18%.
The standard deviation of yields is 1.62 (n=235).
The current dividend yield is
1.23 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 2.88.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.05%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 24.20% Upside
As of March 10, 2023,
the average one-year price target for Global Medical REIT is $11.44.
The forecasts range from a low of $9.09 to a high of $13.65.
The average price target represents an increase of 24.20% from its latest reported closing price of $9.21.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Global Medical REIT
is $147MM, an increase of 6.96%.
The projected annual non-GAAP EPS
is $0.14.
What is the Fund Sentiment?
There are 382 funds or institutions reporting positions in Global Medical REIT.
This is unchanged over the last quarter.
Average portfolio weight of all funds dedicated to GMRE is 0.10%,
a decrease
of 18.00%.
Total shares owned by institutions decreased
in the last three months by 7.39% to 44,489K shares.
The put/call ratio of GMRE is 0.64, indicating a
bullish
outlook.
What are Large Shareholders Doing?
VGSIX – Vanguard Real Estate Index Fund Investor Shares
holds 2,821K shares
representing 4.30% ownership of the company.
In it’s prior filing, the firm reported owning 2,792K shares, representing
an increase
of 1.02%.
The firm
decreased
its portfolio allocation in GMRE by 8.70% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 1,827K shares
representing 2.79% ownership of the company.
No change in the last quarter.
Northwood Liquid Management
holds 1,734K shares
representing 2.65% ownership of the company.
IWM – iShares Russell 2000 ETF
holds 1,392K shares
representing 2.13% ownership of the company.
In it’s prior filing, the firm reported owning 1,289K shares, representing
an increase
of 7.46%.
The firm
increased
its portfolio allocation in GMRE by 8.89% over the last quarter.
Geode Capital Management
holds 1,336K shares
representing 2.04% ownership of the company.
In it’s prior filing, the firm reported owning 1,319K shares, representing
an increase
of 1.28%.
The firm
increased
its portfolio allocation in GMRE by 4.28% over the last quarter.
Global Medical REIT Background Information
(This description is provided by the company.)
Global Medical REIT Inc. is a net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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