5 Best Affordable Dividend Stocks to Buy

3. Global Medical REIT Inc. (NYSE: GMRE)

Dividend Yield: 5.64%
Price as of May 26, 2021: $14.50
No. of Hedge Fund Holders: 18

Maryland-based Global Medical REIT Inc. (NYSE: GMRE) ranks 3rd on the list of 10 best affordable dividend stocks to buy now. The REIT invests in healthcare facilities and rents them to reputable hospitals, clinics, and physician groups across the United States. Since 2014, the company has paid quarterly dividend payout without suspension and recently increased quarterly dividend payout by 2.5% to $0.205 per share in March 2021. The company offers a fair yield of 5.64% and currently pays an annualized dividend of $0.82 per share. 

The company has a market cap of $881 million. The company’s revenue in the first quarter increased 26.3% year over year to $27.3 million due to acquisition activities. To date in 2021, the company has completed nine purchases totaling 308,048 leasable square feet for an amount invested of $101 million at a weighted average cap rate of 7.4%. Global Medical REIT Inc. reported $0.24 per share in quarterly funds from operations (FFO), exceeding analysts’ expectations of $0.22 per share. BMO Capital initiated coverage of Global Medical REIT on April 16 with an Outperform rating and a $16 stock price target. Shares of GMRE jumped 29% over the past twelve months. 

At the end of the first quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $36.6 million in Global Medical REIT Inc. (NYSE: GMRE), up from 8 in the previous quarter worth $21 million.