The Buy Thesis
Medical Properties Trust (MPW) offers a disproportionately strong risk/reward. Current market pricing provides an opportunistic entry point and its operational fundamentals portend tremendous upside. We will begin with a look at its history and detail how it is enhancing its growth trajectory. The buy thesis will conclude with a description of the catalysts that will enable the fundamentals to translate to shareholder returns.
History and trajectory of fundamental growth
Between 2006 and 2012, MPW consistently grew its asset base.
Such growth was fairly typical of REITs over this time period so this does not set MPW apart. Instead, Medical Properties' superiority lies in the translation of size growth to earnings growth. Through stringent acquisition criteria...
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