Global Medical REIT initiated with a Buy at Stifel. Stifel analyst Chad Vanacore initiated Global Medical REIT with a Buy rating and a price target of $11, citing the company’s expected “fast growth, improving portfolio and attractive dividend.” The analyst anticipates the REIT to generate “faster than average investment growth via acquisitions of higher yielding healthcare assets in less competitive markets.” Vanacore also believes that Global Medical REIT is “relatively undervalued” compared to its peers, forecasting an “improved valuation multiple and net asset value” to be driven through external growth and further portfolio diversification.
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