Please wait while we load the requested 10-Q report or click the link below:
|Contact: Tim Berryman|
|Director Investor Relations|
|Medical Properties Trust, Inc.|
MEDICAL PROPERTIES TRUST, INC. REPORTS SECOND QUARTER RESULTS
Recent Transactions Highlight Net Asset Value and Provide $1.5 Billion for Debt Reduction and Accretive Acquisitions
Per Share Net Income of $0.30 and Normalized FFO of $0.36 Up 43% and 13% Respectively Compared to Prior Year Quarter
Birmingham, AL August 2, 2018 Medical Properties Trust, Inc. (the Company or MPT) (NYSE: MPW) today announced financial and operating results for the second quarter ended June 30, 2018.
The quarter was highlighted by MPTs outstanding execution of its capital access and recycling strategies that included the previously disclosed 1.64 billion joint venture agreement with affiliates of Primonial Group and the highly profitable $175 million sale of its interest in Ernest Health, Inc. (Ernest). In addition, the Company reduced its investment in LTACH facilities by selling three Vibra Healthcare (Vibra) hospitals, generating $53 million in cash and a gain on sale of $24 million. When all these transactions have closed, which subject to certain conditions is expected during the third quarter, expected cash proceeds will be approximately $1.5 billion.
These transactions demonstrate the significant value that exists across our portfolio, said Edward K. Aldag, Jr., MPTs Chairman, President and Chief Executive Officer, The cash expected at closing will be used for accretive acquisitions while simultaneously reducing our net leverage to a sector-leading level, added Aldag.
Healthcare Europa, the leading information source for private healthcare services in Europe, described the joint venture transaction as a real coup for MPT, which has pioneered the hospital property market in Germany, Spain and Italy.
SECOND QUARTER AND RECENT HIGHLIGHTS
Net income of $0.30 and Normalized Funds from Operations (NFFO) of $0.36 in the second quarter both on a per diluted share basis;
The following information was filed by Medical Properties Trust Inc (MPW) on Thursday, August 2, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Medical Properties Trust Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Medical Properties Trust Inc.