John McRoberts, chairman and CEO of MedEquities Realty Trust (NYSE: MRT), joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.
MedEquities provides capital primarily to the acute and post-acute services industry by making investments in health care facilities. The company completed an approximately $245 million initial public offering (IPO) in October 2016.
McRoberts described market conditions as “stable.” He noted that given the age of the company, the stock still trades at a “fairly substantial discount.” In time, he added, the IPO discount will begin to dissipate.
Meanwhile, MedEquities has set a $150 million acquisition target for 2017.
“We feel confident with that number,” McRoberts said. Despite the level of competition for assets, “we’re able to hold our pricing to levels we think are attractive for us,” he added.
As for uncertainty surrounding the future of health care legislation, McRoberts said the biggest question concerns what changes are potentially made to Medicaid.