Brokerages forecast that MedEquities Realty Trust Inc (NYSE:MRT) will announce sales of $16.93 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for MedEquities Realty Trust’s earnings. The highest sales estimate is $17.10 million and the lowest is $16.76 million. MedEquities Realty Trust posted sales of $14.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.2%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 14th.
On average, analysts expect that MedEquities Realty Trust will report full year sales of $69.09 million for the current year, with estimates ranging from $69.07 million to $69.10 million. For the next year, analysts forecast that the company will post sales of $77.99 million per share, with estimates ranging from $76.40 million to $79.58 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover MedEquities Realty Trust.
MedEquities Realty Trust (NYSE:MRT) last posted its quarterly earnings data on Thursday, May 10th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.14). MedEquities Realty Trust had a net margin of 34.63% and a return on equity of 6.17%. The business had revenue of $16.72 million for the quarter, compared to analysts’ expectations of $16.41 million.
A number of research firms recently issued reports on MRT. ValuEngine cut MedEquities Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. B. Riley set a $13.00 price objective on MedEquities Realty Trust and gave the company a “buy” rating in a report on Thursday, February 22nd. KeyCorp dropped their price objective on MedEquities Realty Trust from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, April 16th. JMP Securities set a $13.00 price objective on MedEquities Realty Trust and gave the company a “buy” rating in a report on Friday, May 11th. Finally, Citigroup dropped their price objective on MedEquities Realty Trust from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.25.
In other MedEquities Realty Trust news, Director Bluemountain Capital Managemen sold 24,739 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $10.17, for a total value of $251,595.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 363,688 shares of company stock valued at $3,756,271 over the last quarter. Company insiders own 2.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH purchased a new stake in shares of MedEquities Realty Trust in the 1st quarter worth $254,000. Barclays PLC lifted its holdings in shares of MedEquities Realty Trust by 252.2% in the 1st quarter. Barclays PLC now owns 16,016 shares of the financial services provider’s stock worth $168,000 after buying an additional 11,469 shares during the period. Cornercap Investment Counsel Inc. lifted its holdings in shares of MedEquities Realty Trust by 22.3% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 70,605 shares of the financial services provider’s stock worth $742,000 after buying an additional 12,890 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of MedEquities Realty Trust by 3.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 451,590 shares of the financial services provider’s stock worth $4,746,000 after buying an additional 16,100 shares during the period. Finally, UBS Group AG lifted its holdings in shares of MedEquities Realty Trust by 52.3% in the 1st quarter. UBS Group AG now owns 23,234 shares of the financial services provider’s stock worth $244,000 after buying an additional 7,978 shares during the period. Institutional investors and hedge funds own 93.53% of the company’s stock.
MedEquities Realty Trust traded down $0.01, reaching $10.59, during trading hours on Friday, according to Marketbeat. 398,600 shares of the company’s stock traded hands, compared to its average volume of 155,375. MedEquities Realty Trust has a 52-week low of $9.67 and a 52-week high of $13.06. The stock has a market cap of $343.74 million, a P/E ratio of 9.29 and a beta of -0.12.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 5th. Shareholders of record on Tuesday, May 22nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 7.93%. The ex-dividend date was Monday, May 21st. MedEquities Realty Trust’s dividend payout ratio is 73.68%.
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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