Zacks Investment Research upgraded shares of MedEquities Realty Trust Inc. (NYSE:MRT) from a sell rating to a hold rating in a report issued on Wednesday. The firm currently has $12.00 price target on the financial services provider’s stock.
According to Zacks, “MedEquities Realty Trust, Inc. owns, develops, operates, leases and disposes healthcare properties and portfolios. It operates primarily in Texas, California, Nevada and South Carolina. MedEquities Realty Trust, Inc. is based in Nashville, Tennessee. “
Several other equities research analysts have also commented on the company. B. Riley restated a buy rating on shares of MedEquities Realty Trust in a research note on Wednesday, November 8th. KeyCorp set a $13.00 target price on MedEquities Realty Trust and gave the stock a buy rating in a research report on Sunday, October 29th. Capital One Financial Corporation reaffirmed an equal weight rating on shares of MedEquities Realty Trust in a research report on Sunday, October 22nd. Finally, Cantor Fitzgerald initiated coverage on MedEquities Realty Trust in a research report on Thursday, August 31st. They issued an overweight rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. MedEquities Realty Trust currently has a consensus rating of Hold and an average target price of $12.83.
Shares of MedEquities Realty Trust (NYSE MRT) traded up $0.15 during trading hours on Wednesday, reaching $10.83. The company’s stock had a trading volume of 164,055 shares, compared to its average volume of 149,655. The firm has a market capitalization of $339.15 and a price-to-earnings ratio of 9.85. MedEquities Realty Trust has a 12 month low of $10.06 and a 12 month high of $13.06.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 7.76%. The ex-dividend date is Tuesday, November 14th. MedEquities Realty Trust’s payout ratio is 215.38%.
Several hedge funds and other institutional investors have recently modified their holdings of MRT. Bank of New York Mellon Corp boosted its position in shares of MedEquities Realty Trust by 39.8% in the first quarter. Bank of New York Mellon Corp now owns 71,049 shares of the financial services provider’s stock worth $797,000 after buying an additional 20,225 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in MedEquities Realty Trust by 3.6% in the first quarter. Parametric Portfolio Associates LLC now owns 38,827 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 1,343 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in MedEquities Realty Trust by 75.6% in the first quarter. TIAA CREF Investment Management LLC now owns 62,187 shares of the financial services provider’s stock valued at $697,000 after purchasing an additional 26,767 shares during the last quarter. Vanguard Group Inc. boosted its holdings in MedEquities Realty Trust by 10.8% in the first quarter. Vanguard Group Inc. now owns 1,095,341 shares of the financial services provider’s stock valued at $12,278,000 after purchasing an additional 106,394 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in MedEquities Realty Trust by 2.8% in the first quarter. Geode Capital Management LLC now owns 219,235 shares of the financial services provider’s stock valued at $2,457,000 after purchasing an additional 5,910 shares during the last quarter. 94.13% of the stock is owned by institutional investors.
About MedEquities Realty Trust
MedEquities Realty Trust, Inc is a real estate investment trust (REIT). The Company invests in a diversified mix of healthcare properties and healthcare-related real estate debt investments. The Company invests primarily in real estate across the acute and post-acute spectrum of care. It focuses on investing in various types of healthcare properties, including acute care hospitals; skilled nursing facilities; short-stay surgical and specialty hospitals, which focus on orthopedic, heart and other dedicated surgeries and specialty procedures; dedicated specialty hospitals, such as inpatient rehabilitation facilities, long-term acute care hospitals and facilities providing psychiatric care; physician clinics; diagnostic facilities; outpatient surgery centers, and facilities that support these services, such as medical office buildings.
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