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Cantor Fitzgerald Believes Global Medical REIT (GMRE) Won’t Stop Here


Cantor Fitzgerald analyst Joseph France reiterated a Buy rating on Global Medical REIT (GMRE) today and set a price target of $11. The company’s shares opened today at $9.47, close to its 52-week high of $10.05.

France noted:

“: We are raising our 2019 outlook and increasing our 12- month price target to $11 from 10 to reflect a pickup in acquisitions, and reiterating our Overweight rating. GMRE is accelerating its pace of acquisitions, and with its stronger balance sheet, we believe that this is sustainable. Equally important, the company is fully covering its dividends on an AFFO basis after two years of growth and development. We believe that GMRE’s size and focus on smaller off-market transactions allow for a larger number of completed deals with favorable terms and attractive yields, and the larger deal flow should help GMRE grow its portfolio and further improve dividend coverage.”

According to TipRanks.com, France is a 5-star analyst with an average return of 10.7% and a 61.2% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and Addus Homecare Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Medical REIT with a $10.88 average price target, representing a 14.9% upside. In a report released yesterday, Boenning & Scattergood also upgraded the stock to Buy with a $10.50 price target.

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Based on Global Medical REIT’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.74 million. In comparison, last year the company had a net profit of $640K.

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Global Medical REIT, Inc. operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.