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  • Writer's pictureShernel Thielman

Medical Properties Trust Inc (NYSE:MPW) Reports Strong Q3 2023 Results

Medical Properties Trust Inc (NYSE:MPW) recently disclosed its financial and operational performance for the third quarter ended September 30, 2023. Affirming the resilience and durability of its business framework, the company reported a net income per share of $0.19 and normalized FFO of $0.38 in Q3.

For the third quarter of 2023, Medical Properties Trust Inc (NYSE:MPW) recorded a net income of $117 million ($0.19 per diluted share), as opposed to $222 million ($0.37 per diluted share) in the corresponding period last year. The NFFO for the same period was $226 million ($0.38 per diluted share) compared to $272 million ($0.45 per diluted share) in the previous year.

As of September 30, 2023, MPW's portfolio comprised 441 properties and approximately 44,000 licensed beds, with total assets of around $19.0 billion, including various specialized facilities.

MPW is actively assessing opportunities for divestiture and joint ventures to accelerate the repayment of debt maturities, targeting new liquidity of approximately $2 billion over the next twelve months.

The company has adjusted its 2023 calendar estimate of per-share net income to $0.36 to $0.38, reflecting the third-quarter outcomes. The forecast encompasses the existing portfolio's impact, excluding projected contributions from future capital projects.

In the third quarter ending September 30, 2023, Medical Properties Trust Inc (NYSE:MPW) reported total revenues of $306,576 and total expenses of $229,104, leading to a net income attributable to MPT common stockholders of $116,710.

With total assets amounting to $19,004,882 and total liabilities of $10,719,465, the company's total equity stood at $8,285,417 as of September 30, 2023.

Medical Properties Trust Inc (NYSE:MPW) displayed a robust and resilient business model in its Q3 performance, underscored by its strategic debt repayment initiatives and anticipated liquidity maneuvers in the coming year.

Disclaimer: The information provided in this article is based on publicly available data and should not be interpreted as investment advice or recommendations. Readers are advised to conduct their own research and seek advice from financial advisors before making any investment decisions.

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