MedEquities Realty Trust (MRT) Issues Earnings Results
MedEquities Realty Trust (NYSE:MRT) issued its quarterly earnings data on Friday. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.35), Fidelity Earnings reports. MedEquities Realty Trust had a net margin of 30.84% and a return on equity of 5.73%. The company had revenue of $9.68 million for the quarter, compared to analysts’ expectations of $17.72 million. MedEquities Realty Trust updated its FY 2018 guidance to $1.00-1.02 EPS.
Shares of MRT traded up $0.11 during mid-day trading on Friday, reaching $8.73. 170,034 shares of the company’s stock traded hands, compared to its average volume of 126,070. The stock has a market cap of $271.79 million, a price-to-earnings ratio of 7.66 and a beta of 0.65. MedEquities Realty Trust has a 12 month low of $8.25 and a 12 month high of $12.00.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded MedEquities Realty Trust from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, July 25th. ValuEngine upgraded MedEquities Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 29th. KeyCorp downgraded MedEquities Realty Trust from an “overweight” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, August 8th. Canaccord Genuity decreased their price objective on MedEquities Realty Trust from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 9th. Finally, B. Riley set a $12.00 price objective on MedEquities Realty Trust and gave the company a “buy” rating in a research report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.25.
Large investors have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. bought a new position in MedEquities Realty Trust in the second quarter worth approximately $131,000. People s United Financial Inc. bought a new position in MedEquities Realty Trust in the second quarter worth approximately $158,000. Bank of Montreal Can bought a new position in MedEquities Realty Trust in the second quarter worth approximately $160,000. California Public Employees Retirement System bought a new position in MedEquities Realty Trust in the second quarter worth approximately $171,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in MedEquities Realty Trust in the second quarter worth approximately $198,000. 91.02% of the stock is currently owned by institutional investors.
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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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