MedEquities Realty Trust (NYSE:MRT) posted its quarterly earnings results on Monday. The financial services provider reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.25), Fidelity Earnings reports. The business had revenue of $9.68 million for the quarter, compared to the consensus estimate of $17.72 million. MedEquities Realty Trust had a return on equity of 3.37% and a net margin of 19.98%.
Shares of NYSE MRT opened at $8.24 on Tuesday. The company has a market cap of $278.16 million, a P/E ratio of 7.23 and a beta of 0.65. MedEquities Realty Trust has a 52-week low of $7.82 and a 52-week high of $12.00.
A number of equities research analysts recently weighed in on the stock. Citigroup raised shares of MedEquities Realty Trust from a “sell” rating to a “neutral” rating and set a $9.00 price target for the company in a research note on Monday. JMP Securities set a $12.00 price objective on shares of MedEquities Realty Trust and gave the company a “buy” rating in a report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of MedEquities Realty Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 10th. Cantor Fitzgerald restated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of MedEquities Realty Trust in a report on Friday, September 28th. Finally, ValuEngine cut shares of MedEquities Realty Trust from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.25.
In related news, Director Bluemountain Capital Managemen sold 3,955 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $9.13, for a total transaction of $36,109.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 233,564 shares of company stock valued at $2,026,401. Corporate insiders own 3.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in MRT. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of MedEquities Realty Trust in the second quarter valued at approximately $131,000. People s United Financial Inc. acquired a new position in shares of MedEquities Realty Trust in the second quarter valued at approximately $158,000. Bank of Montreal Can acquired a new position in shares of MedEquities Realty Trust in the second quarter valued at approximately $160,000. California Public Employees Retirement System acquired a new position in shares of MedEquities Realty Trust in the second quarter valued at approximately $171,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of MedEquities Realty Trust in the second quarter valued at approximately $198,000. Institutional investors own 91.60% of the company’s stock.
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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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