Newly listed MedEquities shares can’t hold IPO price

Thursday’s initial public offering of shares of MedEquities Realty Trust couldn’t replicate the successes earlier this month of fellow Nashville companies’ FB Financial and CapStar Financial Holdings.

After pricing at $12 Wednesday night — at the bottom of the range the company’s banks had sketched out — MedEquities stock opened trading at $11.50. At one point during the day, investors pushed up their price to $11.99 but couldn’t crack the $12 barrier. With trading volume on track to top 5 million shares, West End-based MedEquities (Ticker: MRT) was changing hands at $11.59 with about 45 minutes of trading to go.