In a report released today, Joseph France from Cantor Fitzgerald reiterated a Buy rating on MedEquities Realty Trust (NYSE: MRT), with a price target of $13. The company’s shares closed yesterday at $10.86.
France noted:
“We are reiterating our $13 price target and Overweight rating on MRT, and updating our 2018-19 estimates to reflect its purchase of an inpatient rehabilitation facility (6/28/18). The new property will be operated by Vibra, one of MRT’s leading operators (11% of NOI). The earnings impact is limited, because we had already assumed some 2Q18 acquisitions, but we are raising our FFO/ AFFO estimates by $0.01 in 2018 and $0.02 in 2019. With the company on track in acquisitions and OnPointe stabilizing, we believe that MRT is undervalued, with a 7.7% yield that equals only 70% of AFFO.”
According to TipRanks.com, France is a 5-star analyst with an average return of 13.2% and a 61.9% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and Envision Healthcare.
Currently, the analyst consensus on MedEquities Realty Trust is a Strong Buy with an average price target of $12.40.
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Based on MedEquities Realty Trust’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $5.1 million. In comparison, last year the company had a net profit of $4.45 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock.
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MedEquities Realty Trust, Inc. operates as a real estate investment trust. It focuses on investment in healthcare properties and healthcare related real estate debt investments. It owns, develops, operates, leases, and disposes healthcare properties and portfolios. The company was founded in April 23, 2014 and is headquartered in Nashville, TN.
