Medical Properties Trust Inc

Latest Results (12.01.2026):

Medical Properties Trust, Inc. reported results for the third quarter of 2025, recording a net loss of $78 million (($0.13) per share) and Normalized Funds from Operations (NFFO) of $0.13 per share. The quarter included approximately $82 million of impairment charges (roughly $0.14 per share) largely tied to Prospect-related bankruptcy items, while cash rents from newly transitioned tenants continued to ramp as expected.

Quarter results

For the third quarter of 2025, MPT reported net loss of $77.5 million (approximately $0.13 per share) and NFFO of $0.13 per share. GAAP revenues were $238 million and total expenses (including interest and depreciation) drove the quarterly loss.

Impairments and other charges

The quarter included about $82 million ($0.14 per share) in impairment charges primarily related to certain Prospect Medical Group bankruptcy transactions; other impairments and fair value adjustments materially affected year-over-year comparisons.

Cash rent collections and tenant ramp

Cash collections from new tenants were 96% of scheduled rents through October (excluding three facilities in Ohio and Pennsylvania). Cash collections increased to roughly $16 million in Q3 (from $11 million in Q2); projected cash collections for Q4 2025 (excluding a Sept rent received Oct 1) are approximately $22 million.

Prospect, NOR and Yale developments

MPT agreed in principle to a lease with NOR Healthcare for Prospect’s California operations that could yield stabilized annual cash rent of about $45 million (subject to regulatory approvals). MPT also reached a settlement with Prospect and Yale expected to provide $45 million in cash from Yale plus proceeds from sales of three CT hospitals, which are expected to exceed MPT’s current DIP loan balance (~$100 million).

Liquidity and capital actions

MPT’s board authorized a strategic repurchase program of up to $150 million of common stock. Management cited improving cash rents and potential recoveries from Prospect as supporting their comfort with liquidity and the repurchase program. Net debt was reported at about $9.62 billion (debt, net).

Dividend

MPT paid its regular quarterly dividend of $0.08 per share in October 2025 (same as the prior-year quarter).

Portfolio and balance sheet snapshot

As of September 30, 2025, Medical Properties Trust, Inc. reported total assets of approximately $14.9 billion, a portfolio of 388 properties with ~39,000 licensed beds across nine countries, and composition including ~$9.0 billion of general acute facilities, ~$2.5 billion of behavioral health and ~$1.6 billion of post-acute facilities. Total equity attributable to MPT common stockholders was about $4.66 billion.