Zacks: Analysts Anticipate MedEquities Realty Trust Inc (MRT) Will Post Earnings of $0.30 Per Share

Equities analysts expect MedEquities Realty Trust Inc (NYSE:MRT) to announce $0.30 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for MedEquities Realty Trust’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.29. MedEquities Realty Trust reported earnings per share of $0.27 in the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 14th.

According to Zacks, analysts expect that MedEquities Realty Trust will report full-year earnings of $1.20 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.22. For the next fiscal year, analysts expect that the company will report earnings of $1.25 per share, with EPS estimates ranging from $1.22 to $1.27. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover MedEquities Realty Trust.

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MedEquities Realty Trust (NYSE:MRT) last announced its quarterly earnings results on Thursday, May 10th. The financial services provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $16.72 million for the quarter, compared to the consensus estimate of $16.41 million.

MRT has been the topic of several analyst reports. KeyCorp decreased their price target on MedEquities Realty Trust from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, April 16th. ValuEngine lowered MedEquities Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Citigroup cut 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. B. Riley set a $13.00 price objective on MedEquities Realty Trust and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $11.00 price objective (down previously from $12.00) on shares of MedEquities Realty Trust in a report on Wednesday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.25.

Shares of MRT traded down $0.01 during midday trading on Friday, hitting $10.59. 398,600 shares of the company traded hands, compared to its average volume of 155,375. MedEquities Realty Trust has a one year low of $9.67 and a one year high of $13.06. The stock has a market cap of $343.74 million, a PE ratio of 9.29 and a beta of -0.12.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 5th. Stockholders of record on Tuesday, May 22nd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 7.93%. The ex-dividend date of this dividend was Monday, May 21st. MedEquities Realty Trust’s payout ratio is 73.68%.

In other news, Director Bluemountain Capital Managemen sold 17,674 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $10.16, for a total transaction of $179,567.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 363,688 shares of company stock valued at $3,756,271 in the last three months. 2.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. LSV Asset Management purchased a new stake in MedEquities Realty Trust in the fourth quarter worth approximately $103,000. MetLife Investment Advisors LLC purchased a new stake in MedEquities Realty Trust in the fourth quarter worth approximately $120,000. Barclays PLC boosted its stake in MedEquities Realty Trust by 252.2% in the first 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in MedEquities Realty Trust by 221.9% in the first quarter. JPMorgan Chase & Co. now owns 19,898 shares of the financial services provider’s stock worth $210,000 after buying an additional 13,717 shares in the last quarter. Finally, UBS Group AG boosted its stake in MedEquities Realty Trust by 52.3% in the first 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 in the last quarter. 93.53% of the stock is owned by institutional investors and hedge funds.

MedEquities Realty Trust Company Profile

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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Gilead Sciences, Inc. (GILD) Holdings Lifted by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 261,826 shares of the biopharmaceutical company’s stock after buying an additional 11,835 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Gilead Sciences were worth $19,739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Handelsbanken Fonder AB lifted its position in Gilead Sciences by 19.4% in the first quarter. Handelsbanken Fonder AB now owns 239,870 shares of the biopharmaceutical company’s stock valued at $18,084,000 after buying an additional 39,000 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in shares of Gilead Sciences during the first quarter worth about $1,228,000. Atlantic Trust Group LLC lifted its position in shares of Gilead Sciences by 9.4% during the first quarter. Atlantic Trust Group LLC now owns 185,521 shares of the biopharmaceutical company’s stock worth $13,988,000 after purchasing an additional 15,939 shares in the last quarter. Doheny Asset Management CA lifted its position in shares of Gilead Sciences by 47.4% during the first quarter. Doheny Asset Management CA now owns 35,006 shares of the biopharmaceutical company’s stock worth $2,639,000 after purchasing an additional 11,255 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its position in shares of Gilead Sciences by 75.0% during the first quarter. NEXT Financial Group Inc now owns 6,939 shares of the biopharmaceutical company’s stock worth $523,000 after purchasing an additional 2,974 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

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Several brokerages have recently issued reports on GILD. BidaskClub cut shares of Gilead Sciences from a “sell” rating to a “strong sell” rating in a research report on Friday, May 4th. Barclays reduced their price target on shares of Gilead Sciences from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Leerink Swann set a $72.00 price target on shares of Gilead Sciences and gave the stock a “market perform” rating in a research report on Wednesday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $88.00.

In other news, Director John C. Martin sold 50,000 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $68.13, for a total value of $3,406,500.00. Following the completion of the sale, the director now directly owns 3,067,762 shares of the company’s stock, valued at $209,006,625.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Francis Cogan sold 5,833 shares of the stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $75.02, for a total value of $437,591.66. Following the completion of the sale, the director now directly owns 58,452 shares of the company’s stock, valued at $4,385,069.04. The disclosure for this sale can be found here. Insiders sold 185,001 shares of company stock worth $13,226,824 over the last quarter. 1.16% of the stock is currently owned by insiders.

Shares of Gilead Sciences stock opened at $69.06 on Tuesday. The company has a market capitalization of $91.32 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of -6.11 and a beta of 1.15. Gilead Sciences, Inc. has a 52 week low of $64.02 and a 52 week high of $89.54. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.75 and a current ratio of 2.84.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, May 1st. The biopharmaceutical company reported $1.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.19). The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Gilead Sciences had a net margin of 14.03% and a return on equity of 45.49%. The business’s revenue for the quarter was down 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.23 earnings per share. analysts anticipate that Gilead Sciences, Inc. will post 5.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Friday, June 15th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.28 annualized dividend and a yield of 3.30%. Gilead Sciences’s dividend payout ratio is currently 26.64%.

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Market Correlations Like 2016 Suggest Dominoes Are Lining Up to Fall

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While on-again, off-again risk aversion is the mantra for global markets in this age of trade spats, here’s a sign that the latest flight to safety may endure beyond Donald Trump’s next tweet.

A Morgan Stanley index that tracks correlation among regions and asset classes has reached its highest level since December 2016, a possible signal that the market’s defensive positioning could prove more lasting, according to a note from Tim Emmott, executive director at Olivetree Financial Ltd. 

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“The fact that this index is trending higher currently could well be the true signal for market players to realize that current multi-asset moves toward risk aversion may be more than short-term,” according to the note.

So far this year, flights to safety have occurred in short-lived bouts spurred, for instance, by the latest twists in trade tensions, without much of a domino effect across asset classes. The VIX Index still sits at its five-year average, while Treasury and currency volatility measures are far below their norms. It’s allowed investors to concentrate on asset- and company-specific drivers, keeping correlations low.

That may change as anxiety creeps back into the market. Emmott points to discussions about policy error that have emerged in the wake of the latest Federal Reserve meeting, the continued difficulty the ECB faces in raising interest rates thanks to macro and political developments and negative data out of China as rendering “the global inflation trade questionable at least.”

That’s spurred selloffs in emerging-market currencies and commodities that could spread to other asset classes should correlations remain elevated, he said in an interview.

It could also put an end to a stellar year for certain strategies. Macro hedge funds -- which bet on economic and political shifts -- lead all fund types in performance year-to-date, according to data from Credit Suisse Group AG. It’s a feat they haven’t accomplished since 2011, and they owe it to divergences between asset classes and regions, according to strategists at the Swiss bank.

“Taking the Morgan Stanley Global Correlation Index as a proxy, it would appear that the trade is breaking down,” Emmott wrote. “The move in correlation here may be the canary in the coalmine for the medium-term trajectory of real systemic risk to markets.”