On August 8, 2024, Medical Properties Trust Inc. (MPT) reported its financial results for the second quarter ended June 30, 2024. The company announced a net loss of $0.54 per share and Normalized Funds from Operations (NFFO) of $0.23 per share. The quarter's net loss included approximately $400 million in real estate gains, offset by $700 million in impairments and negative fair value adjustments. Notably, MPT executed over $2.5 billion in liquidity transactions year-to-date, exceeding initial targets. The company also amended its credit facility, reflecting recent transactions and aligning with its capital allocation strategy. The amendment includes a reduction of MPT's revolver commitment from $1.4 billion to $1.28 billion and a permanent reset of the facility's consolidated net worth covenant from approximately $6.7 billion to $5.0 billion. Additionally...Show More

On August 8, 2024, Medical Properties Trust Inc. (MPT) reported its financial results for the second quarter ended June 30, 2024. The company announced a net loss of $0.54 per share and Normalized Funds from Operations (NFFO) of $0.23 per share. The quarter's net loss included approximately $400 million in real estate gains, offset by $700 million in impairments and negative fair value adjustments. Notably, MPT executed over $2.5 billion in liquidity transactions year-to-date, exceeding initial targets. The company also amended its credit facility, reflecting recent transactions and aligning with its capital allocation strategy. The amendment includes a reduction of MPT's revolver commitment from $1.4 billion to $1.28 billion and a permanent reset of the facility's consolidated net worth covenant from approximately $6.7 billion to $5.0 billion. Additionally, MPT agreed to limit quarterly cash dividends to no more than $0.08 per share during the modified covenant period ending September 30, 2025. MPT's portfolio includes 435 properties and approximately 42,000 licensed beds across nine countries. The company's European general acute portfolio continues to perform well, and its U.S. portfolio, excluding facilities operated by Steward and Prospect Medical Holdings, shows strong revenue trends. MPT's largest tenant, Steward Health Care, is undergoing a court-supervised restructuring process, and MPT expects to relinquish ownership of eight hospitals in Massachusetts to the non-recourse secured lender, resulting in a full impairment of its equity investment in the partnership. The company remains focused on executing its strategy and demonstrating the value of its platform.