Global Medical REIT (GMRE – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst Juan C. Sanabria from BMO Capital maintained a Hold rating on the stock and has a $9.50 price target.
Juan C. Sanabria has given his Hold rating due to a combination of factors related to Global Medical REIT’s recent performance and strategic moves. The company’s fourth-quarter earnings for 2024 were in line with expectations, as GMRE successfully executed previously announced acquisitions. Additionally, the initiation of 2025 FAD guidance slightly exceeded market expectations, although no new acquisitions were announced.
Another factor influencing the Hold rating is GMRE’s contribution of $35 million in assets to a new joint venture with Heitman, which provides the company with flexibility for future growth and potential deleveraging. However, the analyst is looking for more details regarding the joint venture’s target size and any potential conflicts. Furthermore, the ongoing search for a new CEO adds an element of uncertainty to the company’s future direction.