After Stifel Nicolaus and Boenning & Scattergood gave Global Medical REIT (NYSE: GMRE) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Bryan Maher maintained a Buy rating on Global Medical REIT yesterday and set a price target of $11911. The company’s shares closed yesterday at $10.32.
Maher wrote:
“Global Medical REIT (GMRE) reported results below expectations. Adjusted funds from operations (AFFO) of $0.17 per share were below our $0.19 estimate and consensus’ estimate of $0.20. Adjusted EBITDA came in at $11.7M, below our estimate of $12.6M and consensus’ estimate of $11.8M. The miss to our estimates was driven by a combination of modestly lower- than-expected top-line growth (total revenue was $15.2M, vs. our $15.7M estimate), combined with higher-than-expected interest expense ($4.0M, vs. our $4.4M estimate), as well as a higher share count that resulted from an equity offering in March.”
According to TipRanks.com, Maher is a 1-star analyst with an average return of -0.4% and a 49.0% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Senior Housing Properties Trust, and Office Properties Income Trust.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Medical REIT with a $2986.25 average price target, representing a 28836.5% upside. In a report released today, Boenning & Scattergood also maintained a Buy rating on the stock with a $11 price target.
See today’s analyst top recommended stocks >>
Global Medical REIT’s market cap is currently $267.7M and has a P/E ratio of 30.48. The company has a Price to Book ratio of 1.38.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Global Medical REIT, Inc. engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
