Global Medical price target lowered to $8.50 from $9.50 at Alliance Global

Alliance Global Partners analyst Gaurav Mehta lowered the firm’s price target on Global Medical REIT (GMRE) to $8.50 from $9.50 and keeps a Buy rating on the shares. The company lowered its common dividend by 28.6%, which is the “right step” given the prior dividend was not covered by 2025 and 2026 estimates, the analyst tells investors in a research note. Going forward, the firm believes improved portfolio performance, including an improvement in occupancy, resolving of tenant issues such as Prospect Medical and the closure of the CEO search could be a positive catalyst for the stock.