Wells Fargo & Company MN trimmed its stake in MedEquities Realty Trust Inc (NYSE:MRT) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,958 shares of the financial services provider’s stock after selling 11,511 shares during the quarter. Wells Fargo & Company MN owned approximately 0.37% of MedEquities Realty Trust worth $1,137,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in MedEquities Realty Trust by 5.5% in the second quarter. BlackRock Inc. now owns 1,499,494 shares of the financial services provider’s stock valued at $16,526,000 after purchasing an additional 77,884 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of MedEquities Realty Trust during the 2nd quarter worth approximately $198,000. Putnam Investments LLC bought a new position in shares of MedEquities Realty Trust during the 2nd quarter worth approximately $257,000. First Trust Advisors LP bought a new position in shares of MedEquities Realty Trust during the 3rd quarter worth approximately $516,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of MedEquities Realty Trust by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 764,932 shares of the financial services provider’s stock worth $8,430,000 after acquiring an additional 5,106 shares during the period. Hedge funds and other institutional investors own 92.04% of the company’s stock.
MRT has been the subject of several research analyst reports. JMP Securities set a $12.00 target price on MedEquities Realty Trust and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. JPMorgan Chase & Co. upgraded MedEquities Realty Trust from an “underweight” rating to a “neutral” rating in a research note on Wednesday, January 2nd. ValuEngine upgraded MedEquities Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded MedEquities Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 15th. Finally, Citigroup downgraded MedEquities Realty Trust from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $10.00 to $9.00 in a research note on Friday, September 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $10.89.
NYSE:MRT opened at $10.59 on Friday. The company has a market cap of $334.24 million, a P/E ratio of 9.29 and a beta of 0.30. MedEquities Realty Trust Inc has a 1-year low of $6.27 and a 1-year high of $11.85.
MedEquities Realty Trust (NYSE:MRT) last released its quarterly earnings results on Monday, November 12th. The financial services provider reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.25). The firm had revenue of $9.68 million for the quarter, compared to analyst estimates of $17.72 million. MedEquities Realty Trust had a return on equity of 3.39% and a net margin of 19.98%. Analysts predict that MedEquities Realty Trust Inc will post 0.8 earnings per share for the current year.
In related news, Director Bluemountain Capital Managemen sold 23,200 shares of MedEquities Realty Trust stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $8.84, for a total transaction of $205,088.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 411,464 shares of company stock valued at $3,308,823. 3.00% of the stock is currently owned by insiders.
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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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