Royal Bank of Canada reaffirmed their sector perform rating on shares of MedEquities Realty Trust (NYSE:MRT) in a research report released on Wednesday morning. They currently have a $11.00 price objective on the financial services provider’s stock, down from their prior price objective of $12.00.
MRT has been the subject of a number of other reports. ValuEngine downgraded MedEquities Realty Trust from a hold rating to a sell rating in a research report on Wednesday, May 2nd. B. Riley set a $13.00 price objective on MedEquities Realty Trust and gave the stock a buy rating in a research report on Thursday, February 22nd. KeyCorp lowered their price target on MedEquities Realty Trust from $13.00 to $12.00 and set an overweight rating for the company in a report on Monday, April 16th. JMP Securities set a $13.00 price target on MedEquities Realty Trust and gave the company a buy rating in a report on Friday, May 11th. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $14.00 price target on shares of MedEquities Realty Trust in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $12.25.
Shares of MedEquities Realty Trust stock opened at $10.32 on Wednesday. MedEquities Realty Trust has a one year low of $9.67 and a one year high of $13.06. The stock has a market cap of $328.43 million, a PE ratio of 9.05 and a beta of -0.18.
MedEquities Realty Trust (NYSE:MRT) last announced its quarterly earnings data on Thursday, May 10th. The financial services provider reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.14). MedEquities Realty Trust had a return on equity of 6.17% and a net margin of 34.63%. The company had revenue of $16.72 million for the quarter, compared to analyst estimates of $16.41 million. research analysts predict that MedEquities Realty Trust will post 1.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Investors of record on Tuesday, May 22nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 8.14%. The ex-dividend date is Monday, May 21st. MedEquities Realty Trust’s dividend payout ratio (DPR) is 73.68%.
In related news, Director Bluemountain Capital Managemen sold 24,739 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $10.17, for a total value of $251,595.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 313,452 shares of company stock valued at $3,239,316 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MRT. Wells Fargo & Company MN boosted its holdings in MedEquities Realty Trust by 43.4% in the third quarter. Wells Fargo & Company MN now owns 35,366 shares of the financial services provider’s stock valued at $416,000 after purchasing an additional 10,700 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in MedEquities Realty Trust by 69.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 776,946 shares of the financial services provider’s stock valued at $8,718,000 after purchasing an additional 317,829 shares in the last quarter. RMR Advisors LLC acquired a new position in MedEquities Realty Trust in the fourth quarter valued at approximately $393,000. LSV Asset Management acquired a new position in MedEquities Realty Trust in the fourth quarter valued at approximately $103,000. Finally, Victory Capital Management Inc. lifted its stake in MedEquities Realty Trust by 18.0% in the fourth quarter. Victory Capital Management Inc. now owns 142,160 shares of the financial services provider’s stock valued at $1,595,000 after buying an additional 21,700 shares during the last quarter. 93.54% of the stock is owned by hedge funds and other institutional investors.
About MedEquities Realty Trust
MedEquities Realty Trust (NYSE: MRT) is a self-managed and self-administered real estate investment trust that invests in a diversified mix of healthcare properties and healthcare-related real estate debt investments. The Company's management team has extensive industry experience in acquiring, owning, developing, financing, operating, leasing and monetizing many types of healthcare properties and portfolios.
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