MedEquities Realty Trust (MRT) IPO Opens Modestly Lower

Today's IPO for MedEquities Realty Trust (NYSE: MRT) opened for trading at $11.50 after pricing its initial public offering of 19,925,333 shares of common stock at a public offering price of $12.00 per share, the low end of the expected $12-$14 range.

FBR, J.P. Morgan, Citigroup, KeyBanc Capital Markets, Raymond James and RBC Capital Markets are serving as joint book-running managers and JMP Securities, Fifth Third Securities and Capital One Securities are serving as co-managers for the offering.

MedEquities Realty Trust 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. MedEquities' strategy is to become an integral capital partner with high-quality and growth-oriented facility-based providers of healthcare services on a nationwide basis, primarily through net-leased real estate investment.

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