Summary by Futu AI
Medical Properties Trust, Inc. and MPT Operating Partnership, L.P. reported a net loss for the year ended December 31, 2023, of $556.5 million, a significant decrease from the net income of $902.6 million in 2022. The loss was primarily due to a $600 million gain on sale of real estate from the Macquarie Transaction in 2022, a $700 million impairment charge in 2023 related to Steward Health Care System, and accelerating the amortization of lease intangibles associated with the Steward Utah Transaction. Normalized FFO decreased by 13% to $951 million in 2023. The company also engaged in various strategic property sales, including the sale of 11 Australian properties for A$1.2 billion, and reduced its dividend from $0.29 to $0.15 per share in Q3 2023. Additionally, Medical Properties Trust faced legal proceedings, including a securities class action lawsuit and a defamation lawsuit against short-seller Viceroy Research LLC. The company's management concluded that internal control over financial reporting was effective as of December 31, 2023.