Michael Carroll

Omotayo Okusanya

John Kilichowski

Farrell Granath

Michael Mueller

Georgi Dinkov

Georgie

Vikram Malhotra

Vikram Partap Garewal

- Medical Properties Trust (MPW) reported operational improvements in **Q3 2025**, with revenue slightly exceeding expectations despite continued net losses.  **[1287865_1d117a6b7bd745d381ba43b43d921c12]**  The total portfolio EBITDARM rent coverage improved to **2.5x**, reflecting stronger tenant performance.  **[1287865_1d117a6b7bd745d381ba43b43d921c12]** 
- The company released a **$150 million share repurchase program** and aims to surpass **$1 billion in annualized cash rent by 2026**.  **[1287865_1d117a6b7bd745d381ba43b43d921c12]** 
- Cash rent collections improved significantly to **$16 million in Q3 2025** (up from **$11 million in Q2**), with **96% of due rents collected**.  **[1287865_1d117a6b7bd745d381ba43b43d921c12]**  MPW also resolved a major tenant dispute, expecting to recoup a **$105 million loan**.  **[1287865_1d117a6b7bd745d381ba43b43d921c12]** 
- MPW maintained a quarterly dividend of **$0.08 per share**.  **[1287865_1d117a6b7bd745d381ba43b43d921c12]**  However, the company continues to face financial challenges, including a high debt-to-equity ratio, a negative Altman Z-Score, and significant short interest.  **[1287865_1d117a6b7bd745d381ba43b43d921c12]**

Medical Properties Trust Reports Q3 2025 Operational Improvements, Share Buyback, and Cash Rent Targets

- Medical Properties Trust reported **normalized FFO of $0.13 per share** for the third quarter of 2025, which would have been $0.01 higher if not for a late rent payment from HSA.  **[0001287865_2216644_4]**  The company also recorded approximately **$82 million in net impairments**, primarily related to Prospect Medical Group.  **[0001287865_2216644_4]** 
- The Board of Directors authorized a new **$150 million share repurchase program**, which the company intends to deploy opportunistically and expects to start immediately, viewing it as a highly accretive use of capital.  **[0001287865_2216644_1]** **[0001287865_2216644_5]** **[0001287865_2216644_7]** 
- Tenants across general acute, post-acute, and behavioral health segments demonstrated strong performance, with year-over-year EBITDARM increases of **$200 million**, **$50 million**, and **$10 million** respectively.  **[0001287865_2216644_1]**  The company is increasingly confident in generating total annualized cash rent of more than **$1 billion by year-end 2026**, excluding contributions from California Prospect properties.  **[0001287865_2216644_1]** 
- Key developments regarding Prospect Medical Group include **NOR Health Care Systems** being named the successful bidder for six California facilities with a new lease ramping to **$45 million per year**, and a **$45 million settlement** reached with Yale New Haven Health and Prospect.  **[0001287865_2216644_1]**

Medical Properties Trust Reports Q3 2025 Financial Results and Authorizes Share Repurchase Program

- For Q3 2025, Medical Properties Trust reported a **net loss attributable to common stockholders of $(77,730) thousand** and **Normalized Funds From Operations (FFO) of $77,213 thousand**, or **$0.13 per diluted share**.  **[0001287865_2216536:9]** **[0001287865_2216536:10]** 
- As of September 30, 2025, the company's **total debt stood at $9,754,054 thousand** with a **weighted average rate of 5.383%**.  **[0001287865_2216536:14]** 
- The portfolio's **total assets were $14,924,195 thousand** as of September 30, 2025, generating **Q3 2025 revenues of $237,522 thousand**.  **[0001287865_2216536:17]**  **General Acute Care Hospitals** represent the largest segment, comprising **59.7% of total assets** and **60.9% of Q3 2025 revenues**.  **[0001287865_2216536:17]** 
- The **Total Portfolio TTM EBITDARM Rent Coverage was 2.5x for Q2 2025 TTM**, with General Acute Care Hospitals at 3.0x and Behavioral Health Facilities at 2.0x.  **[0001287865_2216536:22]**  These coverages exclude Prospect Medical Holdings and former Steward Health Care facilities.  **[0001287865_2216536:23]**

Medical Properties Trust Reports Q3 2025 Financial and Portfolio Results

- Medical Properties Trust reported a **net loss of ($0.13) per share** and **Normalized Funds from Operations (NFFO) of $0.13 per share** for the third quarter ended September 30, 2025.  **[1287865_0001193125-25-257549_d84530dex991.htm:1]** **[1287865_0001193125-25-257549_d84530dex991.htm:2]** **[1287865_0001193125-25-257549_d84530dex992.htm:4]**  The net loss included approximately **$82 million ($0.14 per share)** in impairment charges primarily related to Prospect Medical Group.  **[1287865_0001193125-25-257549_d84530dex991.htm:1]** 
- The company's board of directors authorized a strategic common stock repurchase program of up to **$150 million**  **[1287865_0001193125-25-257549_d84530dex991.htm:1]** **[1287865_0001193125-25-257549_d84530d8k.htm:2]** , and sold two facilities in Arizona for approximately **$50 million**.  **[1287865_0001193125-25-257549_d84530dex991.htm:1]**  A regular quarterly dividend of **$0.08 per share** was paid in October.  **[1287865_0001193125-25-257549_d84530dex991.htm:1]** 
- Cash rents from new tenants are ramping up, with **$16 million collected in Q3 2025** and approximately **$22 million projected for Q4 2025**.  **[1287865_0001193125-25-257549_d84530dex991.htm:1]**  Progress on Prospect Medical Group's restructuring includes an agreement for a lease with NOR Healthcare Systems Corp. for **$45 million in stabilized annual cash rent** and a settlement expected to exceed the current **$100 million debtor-in-possession (DIP) loan balance**.  **[1287865_0001193125-25-257549_d84530dex991.htm:1]** **[1287865_0001193125-25-257549_d84530dex991.htm:2]**

Medical Properties Trust Reports Q3 2025 Results and Announces Stock Repurchase Program

- Medical Properties Trust reported a **net loss of ($0.13) per share** and **Normalized Funds from Operations (NFFO) of $0.13 per share** for the third quarter ended September 30, 2025.  **[1287865_b87522717e1c4aeeaa8f7996ac0711ac_0]** **[1287865_b87522717e1c4aeeaa8f7996ac0711ac_8]** **[1287865_b87522717e1c4aeeaa8f7996ac0711ac_10]** 
- The company's board of directors authorized a program to strategically repurchase up to **$150 million of its common stock**.  **[1287865_b87522717e1c4aeeaa8f7996ac0711ac_0]** 
- Cash rents from new tenants increased to **$16 million in the third quarter** and are projected to approximate **$22 million for the fourth quarter of 2025**.  **[1287865_b87522717e1c4aeeaa8f7996ac0711ac_0]** 
- A settlement with Prospect Medical Group and Yale New Haven Health System, along with the expected sale of three Connecticut hospitals, is anticipated to generate proceeds exceeding MPT's current debtor-in-possession (DIP) loan balance of approximately **$100 million**.  **[1287865_b87522717e1c4aeeaa8f7996ac0711ac_0]** **[1287865_b87522717e1c4aeeaa8f7996ac0711ac_1]** 
- MPT expects pro rata annualized cash rent from its current portfolio to exceed **$1 billion by the end of 2026**.  **[1287865_b87522717e1c4aeeaa8f7996ac0711ac_0]**

Medical Properties Trust Reports Third Quarter 2025 Results and Announces Stock Repurchase Program

- Medical Properties Trust (MPT) expects a **$45 million settlement payment** from Yale New Haven Health System, which is anticipated to reduce MPT's outstanding debtor-in-possession (DIP) loan to Prospect.  **[1287865_31d323ec4ce04b3597f64778d1967b16_0]** 
- MPT anticipates **full repayment of its $105 million DIP loan balance** to Prospect following the Yale settlement, sales of Connecticut facilities, and finalization of other California transactions.  **[1287865_31d323ec4ce04b3597f64778d1967b16_0]** 
- MPT recently sold **two facilities in Phoenix, Arizona for approximately $50 million**.  **[1287865_31d323ec4ce04b3597f64778d1967b16_0]** 
- The company plans to use the anticipated cash receipts from these transactions for **debt repayment, investments, returns to shareholders, and general corporate purposes**.  **[1287865_31d323ec4ce04b3597f64778d1967b16_0]**

MEDICAL PROPERTIES TRUST (MPW)