Medical Properties Trust Q3 revenue rises
MPW•Medical Properties Trust reported third-quarter revenue of $250.14 million, up year over year but below the $257.98 million analyst estimate. Net income was $202.08 million, and the company said asset sales and debt refinancing generated $680 million in proceeds and gains.
1. Quarterly results
Medical Properties Trust's third-quarter revenue missed analyst expectations but rose year over year. Net income was $202.08 million, compared with a loss in the prior-year quarter. A missed rent payment from HSA reduced normalized funds from operations by two cents per share.
2. Sales and outlook
The company said third-quarter asset sales generated $680 million in proceeds and $158 million in gains. Refinancing debt through a secured notes offering resulted in a $70 million gain. Medical Properties Trust expects portfolio cash rents to exceed $1.0 billion in 2027, using conservative rental income estimates for challenged tenants such as HSA, and said it is focused on further debt reduction and selective growth opportunities.
