Medical Facilities Corp (DR) Trading Down 5.3% on Analyst Downgrade

Medical Facilities Corp (TSE:DR) fell 5.3% during trading on Wednesday after Royal Bank Of Canada lowered their price target on the stock from C$15.00 to C$14.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Medical Facilities Corp traded as low as C$13.30 and last traded at C$13.32. 327,105 shares traded hands during mid-day trading, an increase of 113% from the average session volume of 153,233 shares. The stock had previously closed at C$14.07.

Several other equities research analysts also recently commented on the stock. Canaccord Genuity upped their target price on shares of Medical Facilities Corp from C$14.50 to C$16.00 in a research note on Monday, August 28th. TD Securities lowered their target price on shares of Medical Facilities Corp from C$21.00 to C$19.00 and set a “buy” rating for the company in a research note on Friday, August 11th. CIBC lowered their target price on shares of Medical Facilities Corp from C$18.25 to C$16.00 and set a “neutral” rating for the company in a research note on Friday, August 11th. Finally, National Bank Financial lowered their target price on shares of Medical Facilities Corp from C$16.50 to C$15.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of C$16.00.

The company also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.0938 per share. The ex-dividend date is Monday, October 30th. This represents a $1.13 annualized dividend and a yield of 8.00%.

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About Medical Facilities Corp

Medical Facilities Corporation is a Canada-based company, which owns interests in over six entities (the Centers), approximately five of which either own a specialty surgical hospital (SSH) or an ambulatory surgery center (ASC). The Company’s Centers offer facilities, such as staff, surgical materials and supplies, and other support necessary for scheduled surgical, pain management, imaging and diagnostic procedures.

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