earnings
confidence high
sentiment negative
materiality 0.75
MPT reports Q3 net loss $1.34/sh, NFFO $0.16/sh; Steward re-tenanting progressing
MEDICAL PROPERTIES TRUST INC
2024-Q3 EPS reported
-$3.33
revenue$763,703,000
- Net loss of $801M ($1.34/sh) vs net income $117M ($0.19/sh) in Q3 2023; NFFO fell to $0.16/sh from $0.38/sh.
- Recorded $608M impairment charges, including $425M on Steward working capital loans, and $131M negative fair value adjustments.
- Re-tenanted 17 former Steward hospitals to five operators; expects partial cash rental payments in Q1 2025.
- Year-to-date ~$2.9B liquidity actions: sold assets for ~$246M, repaid ~$300M revolver and £72M GBP term loan.
- Prospect did not pay Q3 cash rent on six California properties; quarterly dividend maintained at $0.08/sh.