MedEquities Realty Trust Inc offered guidance for full-year 2018 funds from operations per share of $1.17 to $1.21 and adjusted FFO of $1.18 to $1.22 while releasing its fourth-quarter 2017 results.
The S&P Capital IQ consensus estimate for full-year 2018 FFO is $1.21 per share.
On Nov. 10, 2017, the healthcare real estate investment trust acquired for $17.5 million a 23,619-square-foot acute care surgical hospital with four operating rooms. The property previously served as collateral for a $12.5 million interest-only mortgage loan, and the purchase price was satisfied by applying the outstanding $12.5 million aggregate principal amount on the mortgage note plus $5.0 million in cash.
The property was leased to AD Hospital East LLC under a 15-year triple-net lease with two 10-year renewal options at an initial yield of 9.6% with annual rent escalators.