Shares of MedEquities Realty Trust Inc (NYSE:MRT) dropped 2.9% during trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $7.82 and last traded at $8.00. Approximately 10,984 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 132,357 shares. The stock had previously closed at $8.24.

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 during the quarter, compared to analyst estimates of $17.72 million. MedEquities Realty Trust had a net margin of 19.98% and a return on equity of 3.37%.

MRT has been the subject of several recent analyst reports. Citigroup downgraded shares of MedEquities Realty Trust from a “neutral” rating to a “sell” rating and lowered their target price for the company from $10.00 to $9.00 in a research note on Friday, September 14th. Canaccord Genuity lowered their price objective on shares of MedEquities Realty Trust from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 9th. B. Riley set a $12.00 price objective on shares of MedEquities Realty Trust and gave the stock a “buy” rating in a research note on Thursday, August 9th. JMP Securities set a $12.00 price objective on shares of MedEquities Realty Trust and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research upgraded shares of MedEquities Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.13.

In other news, Director Bluemountain Capital Managemen sold 37,530 shares of MedEquities Realty Trust stock in a transaction on Monday, November 12th. The shares were sold at an average price of $8.74, for a total transaction of $328,012.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 271,094 shares of company stock valued at $2,354,413 over the last quarter. Insiders own 3.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of MedEquities Realty Trust by 7.1% during the third quarter. American Century Companies Inc. now owns 2,325,880 shares of the financial services provider’s stock worth $22,608,000 after purchasing an additional 153,969 shares during the last quarter. BlackRock Inc. raised its holdings in shares of MedEquities Realty Trust by 14.8% during the third quarter. BlackRock Inc. now owns 1,721,509 shares of the financial services provider’s stock worth $16,733,000 after purchasing an additional 222,015 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of MedEquities Realty Trust by 21.5% during the third quarter. Renaissance Technologies LLC now owns 1,020,302 shares of the financial services provider’s stock worth $9,917,000 after purchasing an additional 180,502 shares during the last quarter. Eagle Boston Investment Management Inc. raised its holdings in shares of MedEquities Realty Trust by 3.8% during the third quarter. Eagle Boston Investment Management Inc. now owns 812,689 shares of the financial services provider’s stock worth $7,899,000 after purchasing an additional 29,828 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of MedEquities Realty Trust by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 764,932 shares of the financial services provider’s stock worth $8,430,000 after purchasing an additional 5,106 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

The firm has a market capitalization of $278.16 million, a PE ratio of 6.76 and a beta of 0.65.

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MedEquities Realty Trust Company Profile (NYSE:MRT)

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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