MedEquities Realty Trust (MRT) Given New $11.00 Price Target at B. Riley
MedEquities Realty Trust (NYSE:MRT) had its target price lowered by B. Riley from $12.00 to $11.00 in a report released on Tuesday. The firm currently has a “buy” rating on the financial services provider’s stock. B. Riley’s price target would indicate a potential upside of 42.67% from the stock’s previous close.
Several other brokerages have also weighed in on MRT. KeyCorp lowered MedEquities Realty Trust from an “overweight” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday, August 8th. Zacks Investment Research lowered MedEquities Realty Trust from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. Citigroup raised MedEquities Realty Trust from a “sell” rating to a “neutral” rating and set a $9.00 price objective for the company in a report on Monday. JMP Securities set a $12.00 price objective on MedEquities Realty Trust and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Finally, ValuEngine lowered MedEquities Realty Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. MedEquities Realty Trust presently has an average rating of “Hold” and a consensus price target of $11.13.
Shares of MRT opened at $7.71 on Tuesday. MedEquities Realty Trust has a fifty-two week low of $7.65 and a fifty-two week high of $12.00. The stock has a market capitalization of $262.55 million, a P/E ratio of 6.76 and a beta of 0.65.
In other MedEquities Realty Trust news, Director Bluemountain Capital Managemen sold 11,695 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $8.39, for a total value of $98,121.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 271,094 shares of company stock valued at $2,354,413. 3.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MRT. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of MedEquities Realty Trust during the 2nd quarter valued at about $131,000. People s United Financial Inc. bought a new stake in shares of MedEquities Realty Trust during the 2nd quarter valued at about $158,000. Bank of Montreal Can bought a new stake in shares of MedEquities Realty Trust during the 2nd quarter valued at about $160,000. Raymond James Trust N.A. bought a new stake in shares of MedEquities Realty Trust during the 3rd quarter valued at about $161,000. Finally, California Public Employees Retirement System bought a new stake in shares of MedEquities Realty Trust during the 2nd quarter valued at about $171,000. Institutional investors and hedge funds own 91.60% of the company’s stock.
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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