Northpointe Capital LLC Decreases Position in MedEquities Realty Trust Inc. (MRT)
Northpointe Capital LLC reduced its stake in shares of MedEquities Realty Trust Inc. (NYSE:MRT) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 884,839 shares of the financial services provider’s stock after selling 63,398 shares during the period. MedEquities Realty Trust makes up approximately 1.2% of Northpointe Capital LLC’s investment portfolio, making the stock its 16th largest position. Northpointe Capital LLC’s holdings in MedEquities Realty Trust were worth $11,167,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Nuveen Asset Management LLC raised its stake in MedEquities Realty Trust by 165.2% in the first quarter. Nuveen Asset Management LLC now owns 2,727,853 shares of the financial services provider’s stock valued at $30,579,000 after buying an additional 1,699,181 shares in the last quarter. Morgan Stanley raised its stake in MedEquities Realty Trust by 99.7% in the first quarter. Morgan Stanley now owns 1,902,876 shares of the financial services provider’s stock valued at $21,331,000 after buying an additional 949,892 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in MedEquities Realty Trust by 59.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,191,484 shares of the financial services provider’s stock valued at $24,567,000 after buying an additional 813,540 shares in the last quarter. Norges Bank acquired a new stake in MedEquities Realty Trust during the fourth quarter valued at approximately $3,108,000. Finally, State Street Corp acquired a new stake in MedEquities Realty Trust during the fourth quarter valued at approximately $2,938,000. Institutional investors and hedge funds own 97.56% of the company’s stock.
Shares of MedEquities Realty Trust Inc. (NYSE MRT) opened at 11.44 on Tuesday. The stock has a 50 day moving average of $12.27 and a 200 day moving average of $11.72. MedEquities Realty Trust Inc. has a 52-week low of $10.28 and a 52-week high of $13.06. The firm has a market capitalization of $363.28 million and a price-to-earnings ratio of 34.77.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th will be paid a $0.21 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.84 annualized dividend and a dividend yield of 7.34%. MedEquities Realty Trust’s dividend payout ratio is currently 240.00%.
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Separately, Zacks Investment Research lowered shares of MedEquities Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $12.86.
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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