Medical Prop Stock Price, News & Analysis

Medical Properties Trust (MPW) has announced the pricing of secured notes totaling $1.5 billion USD and €1.0 billion EUR, due 2032. The USD notes priced at 8.500% coupon and Euro notes at 7.000%, creating a blended coupon of 7.885%. The offering is expected to close on February 13, 2025.

The company estimates net proceeds of approximately $1.46 billion from USD notes and €974 million from Euro notes. These funds will be used to redeem existing notes due 2025 and 2026, with remaining proceeds of about $0.8 billion allocated for general corporate purposes, including debt repayment and potential acquisitions.

The notes will be secured by first-priority liens on equity of subsidiaries owning 167 properties across the US, UK, and Germany, operated by 19 different operators. The company also plans to amend its senior credit facility to share collateral and guarantees on a pro rata basis.

Medical Properties Trust (MPW) has announced a private offering of senior secured notes, comprising up to $2.0 billion and €500 million due 2032. The proceeds will be used to redeem the company's existing notes due 2025 and 2026, with remaining funds allocated for general corporate purposes, including debt repayment and potential acquisitions.

The notes will be guaranteed by MPT and its collateral-owning subsidiaries, secured by first-priority liens on equity of subsidiaries that own or ground lease 167 properties across the U.S., U.K., and Germany, operated by 19 different operators. The company plans to amend its senior revolving credit and term loan agreement to share collateral and guarantees on a pro rata basis.

Medical Properties Trust (MPW) has issued a statement regarding Prospect Medical Group's Chapter 11 bankruptcy filing. While Prospect's California facilities have shown volume growth and improved coverage trends in 2024, their overall liquidity has been negatively affected by stalled sales processes in East Coast markets.

Prospect has defaulted on rent payments to MPT since June 2024, with Connecticut and Pennsylvania facilities making minimal payments over the past two years. MPT has been using cash basis accounting for all Prospect revenues since 2023. The company's main focus during the restructuring process will be protecting its investment in Prospect's California hospitals and supporting Prospect's efforts to sell its Connecticut facilities through the Chapter 11 process.

Medical Properties Trust (NYSE: MPW) announced a mutual settlement and dismissal of its defamation lawsuit against Viceroy Research The lawsuit was originally filed in federal court on March 30, 2023. Both parties have agreed to maintain confidentiality regarding the settlement terms.

Medical Properties Trust (MPW) has announced its Board of Directors has declared a regular quarterly cash dividend of $0.08 per share of common stock. The dividend will be paid on January 9, 2025, to stockholders of record as of December 12, 2024.

Medical Properties Trust (MPT) announced that Astrana Health has entered into a binding agreement to acquire Prospect's managed care business for approximately $745 million, plus the assumption of certain liabilities. MPT expects to receive about $200 million in total proceeds from this transaction, with the majority expected in the first half of 2025 and a $50 million payment by 2027. The deal, signed on November 8, is subject to regulatory approval and other closing conditions.

Medical Properties Trust (MPW) reported Q3 2024 financial results with a net loss of ($1.34) per share and Normalized FFO of $0.16 per share. The quarter included $130 million in real estate gains, offset by $608 million in impairment charges, $131 million in negative fair value adjustments, and $137 million in accelerated lease intangibles amortization. The company successfully transitioned 17 former Steward hospitals to five new operators and completed approximately $2.9 billion in liquidity transactions year-to-date. MPT's portfolio now includes 402 properties with 40,000 licensed beds across multiple countries. The company paid a quarterly dividend of $0.08 per share in October.

Medical Properties Trust (MPW) has scheduled its Third Quarter 2024 financial results conference call and webcast for Thursday, November 7, 2024 at 11:00 a.m. Eastern Time. The company will release its financial results before market opening on the same day. The conference call will be accessible via phone (U.S.: 877-883-0383, International: 412-902-6506) with passcode 6768920. A replay will be available through November 21, 2024, and the webcast will be accessible for one year on the company's website.

Medical Properties Trust (MPT) has released findings from an independent investigation into short-seller allegations, particularly regarding transactions with Steward Healthcare. The investigation, conducted by Wachtell, Lipton, Rosen & Katz, found no evidence of improper practices or management misconduct. Key findings include:

- No evidence of overpaying operator-tenants for real estate
- No improper round-tripping or recognition of uncollectable rent
- No requirement to consolidate Steward's financial results
- No ownership interest in Malta properties or hospitals
- No manipulation of acquisitions or metrics for compensation targets
- No concerns regarding management integrity

The Board stands behind the management team and highlights the recent global settlement agreement with Steward, which allowed MPT to regain control of its real estate and transition operations to new operators.