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|Contact: Tim Berryman|
|Director Investor Relations|
|Medical Properties Trust, Inc.|
MEDICAL PROPERTIES TRUST, INC. REPORTS THIRD QUARTER RESULTS
Per Share Net Income of $0.20 and Normalized FFO of $0.33
Continues to Deliver Accretive Acquisitions; $5 Billion Pipeline Opportunities
Birmingham, AL October 31, 2019 Medical Properties Trust, Inc. (the Company or MPT) (NYSE: MPW) today announced financial and operating results for the third quarter ended September 30, 2019 and recent highlights.
We are delighted with where we stand at the end of the third quarter of this record breaking year, said Edward K. Aldag, Jr., MPTs Chairman, President and Chief Executive Officer. On top of the $3.4 billion of previously announced accretive investments, we added another $282 million in high-quality assets recently and are poised for even more significant acquisitions soon.
Year-to-date, MPT has acquired and leased to well-positioned hospital operators approximately $3.7 billion of hospital real estate, a growth in assets of 40% since the beginning of the year. The acquired facilities, which are 100% leased, generate an average GAAP rate of approximately 8.0% resulting in immediately accretive results to Normalized FFO per share. Notwithstanding the record level of investments and FFO and dividend growth already achieved in 2019, the Company expects additional near-term acquisition opportunities as described by Aldag. The market activity for hospital real estate continues to expand as operators across the globe recognize opportunities to access low cost permanent capital through efficient use of their real estate assets, said Aldag. MPTs demonstrated ability to execute large acquisitions promptly and with certainty has provided us a competitive advantage over other hospital investors and has led to our commanding market share. We continue to actively pursue transactions totaling as much as $5.0 billion, some of which may close during the next few quarters.
THIRD QUARTER AND RECENT HIGHLIGHTS
Net income of $0.20 and Normalized Funds from Operations (NFFO) of $0.33 in the third quarter, both on a per diluted share basis;
Acquired three inpatient rehabilitation facilities for $196 million and seven long-term acute care facilities for $58 million, with lease coverages of approximately two times and five times, respectively;
The following information was filed by Medical Properties Trust Inc (MPW) on Thursday, October 31, 2019 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.
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