MedEquities Realty Trust (MRT) Reports Q4 Loss of $0.06

MedEquities Realty Trust (NYSE: MRT) reported Q4 EPS of ($0.06), versus $0.13 reported last year. Revenue for the quarter came in at $14.01 million versus the consensus estimate of $15.34 million.

• Successfully executed the IPO in October 2016, selling 20,434,567 shares of common stock, including shares sold pursuant to the underwriters' partial exercise of their over-allotment option, for total gross proceeds of $245.2 million.
• Amended its secured credit facility, which, among other things, increased its size to $425 million through the addition of a five-year $125 million term loan, lowered facility borrowing costs and extended the maturity of the $300 million revolving credit facility to February 2021, providing substantial flexibility to its capital structure.
• Completed a $12.5 million investment in an acute care surgical hospital in Houston, Texas in the form of a newly originated interest-only loan with an interest rate of 9.6% and an exclusive option to convert to fee-simple ownership as early as October 2017.
• Reported results for the fourth quarter of 2016 attributable to common stockholders of a net loss of $(0.06) per common share; Funds from Operations ("FFO") of $0.05 per diluted common share, which was reduced by the $6.3 million, or $0.21 per diluted common share, premium to redeem preferred stock upon completion of the IPO; and Adjusted FFO ("AFFO") of $0.27 per diluted common share.
• Declared a regular cash dividend of $0.21 per share for the fourth quarter of 2016.
• The Company issued guidance for 2017 results attributable to common stockholders of net income of $0.60 to $0.64 per diluted common share; FFO of $1.07 to $1.13 per diluted common share; and AFFO of $1.09 to $1.15 per diluted common share.

For earnings history and earnings-related data on MedEquities Realty Trust (MRT) click here.

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