Cantor Fitzgerald analyst Joseph France reiterated a Buy rating on Global Medical REIT (NYSE: GMRE) today and set a price target of $10. The company’s shares opened today at $8.45.
France noted:
“Updating outlook. We are adjusting our 2018 estimates to reflect the faster than expected closing of the Orlando Health acquisition and 1Q18 results. Our new 2018 revenue estimate is $51.8 million (vs. prior $48.7 million), FFO estimate is $0.80 (vs. prior $0.75) and our AFFO estimate is $0.78 (vs. prior $0.77). Our 2019 estimates include revenue of $54.7 million (vs. $56.2 million FactSet cons), FFO of $0.86 (vs. $0.87 cons) and AFFO of $0.85 (vs. $0.87 cons).”
According to TipRanks.com, France is a 5-star analyst with an average return of 9.9% and a 56.4% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and US Physical Therapy.
Global Medical REIT has an analyst consensus of Strong Buy, with a price target consensus of $10.
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The company has a one-year high of $10.25 and a one-year low of $6.34. Currently, Global Medical REIT has an average volume of 151.4K.
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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.
