Zacks Investment Research downgraded shares of MedEquities Realty Trust (NYSE:MRT) from a buy rating to a hold rating in a report issued on Wednesday.
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. “
MRT has been the subject of a number of other research reports. KeyCorp reiterated a buy rating and issued a $13.00 target price on shares of MedEquities Realty Trust in a research note on Tuesday, September 26th. Capital One Financial initiated coverage on MedEquities Realty Trust in a research note on Monday, October 23rd. They issued an equal weight rating and a $13.00 target price for the company. B. Riley reiterated a buy rating on shares of MedEquities Realty Trust in a research note on Wednesday, November 1st. Finally, ValuEngine upgraded MedEquities Realty Trust from a hold rating to a buy rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. MedEquities Realty Trust currently has an average rating of Buy and a consensus target price of $13.00.
Shares of MedEquities Realty Trust (NYSE:MRT) traded down $0.03 during trading hours on Wednesday, reaching $11.21. The company’s stock had a trading volume of 173,716 shares, compared to its average volume of 203,033. The firm has a market capitalization of $359.48, a price-to-earnings ratio of 28.03 and a beta of -0.74. MedEquities Realty Trust has a 12 month low of $10.06 and a 12 month high of $13.06.
In other MedEquities Realty Trust news, CEO John W. Mcroberts purchased 18,000 shares of MedEquities Realty Trust stock in a transaction that occurred on Friday, November 17th. The stock was purchased at an average price of $10.74 per share, with a total value of $193,320.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randy L. Churchey purchased 5,300 shares of MedEquities Realty Trust stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $10.87 per share, with a total value of $57,611.00. Following the acquisition, the director now directly owns 46,776 shares of the company’s stock, valued at approximately $508,455.12. The disclosure for this purchase can be found here. In the last quarter, insiders bought 23,600 shares of company stock valued at $254,129. Insiders own 2.50% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in MedEquities Realty Trust in the third quarter valued at about $177,000. Jane Street Group LLC purchased a new position in MedEquities Realty Trust in the third quarter valued at about $270,000. Asset Management One Co. Ltd. boosted its holdings in MedEquities Realty Trust by 40.8% in the third quarter. Asset Management One Co. Ltd. now owns 62,539 shares of the financial services provider’s stock valued at $747,000 after purchasing an additional 18,111 shares during the last quarter. OxFORD Asset Management LLP boosted its holdings in MedEquities Realty Trust by 39.2% in the third quarter. OxFORD Asset Management LLP now owns 155,785 shares of the financial services provider’s stock valued at $1,832,000 after purchasing an additional 43,904 shares during the last quarter. Finally, 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 during the last quarter. 93.19% of the stock is owned by hedge funds and other institutional investors.
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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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