Medical Properties Trust, Inc. (MPW) - NYSE
  • May 5, 2015, 10:31 AM
    • A big move higher in interest rates continues, with the 10-year Treasury yield up another six basis points to 2.20% - roughly the level at which it started the year (it fell as low as 1.65% in early February).
    • The move here is small-time compared to what's going on across the pond, as the absurd levels of two weeks ago become somewhat less absurd. Ten-year Bund yields are up to 0.51% from 0.05%. Italian 10-years are up 30 bps today to 1.78%, with a similar move in Spain.
    • The IYR is down 1.1%.
    • Individual names: Realty Income (O -1.3%), Senior Housing Properties (SNH -1.5%), Medical Properties Trust (MPW -2.4%), Gramercy Property Trust (GPT -1.8%), Equity Residential (EQR -1.4%), AvalonBay (AVB -1.5%), Government Properties (GOV -2.3%), Pebblebrook Hotel (PEB -2%), Eastgroup Properties (EGP -1.6%), American Campus (ACC -1.4%).
    • Mortgage REITS (REM -0.6%) are outperforming the equity names: Annaly (NLY -0.7%), American Capital Agency (AGNC -0.6%), Two Harbors (TWO -0.7%), CYS Investments (CYS -0.3%), Invesco (IVR -0.2%).
    | May 5, 2015, 10:31 AM | 21 Comments
  • Apr. 9, 2015, 3:24 PM
    • A weak 30-year bond auction has long-term Treasury yields on the move higher, with the 10-year up five basis points to 1.96%. One also can't help but notice a recent uptick in capital raising among the equity REITs.
    • Realty Income (O -2.2%), Agree Realty (ADC -2.2%), Omega Healthcare (OHI -4%), Medical Properties Trust (MPW -2.5%), W.P. Carey (WPC -2.2%), Duke Realty (DRE -2.5%), Essex Property (ESS -2.9%), Aimco (AIV -3%), Simon Property (SPG -2.4%), Kimco (KIM -2.9%), Inland Real Estate (IRC -3%), DDR Corp (DDR -2.3%), Sovran Self Storage (SSS -2.2%), Washington Real Estate (WRE -4%), Digital Realty Trust (DLR -2%), Hospitality Properties (HPT -2.6%), Ashford Hospitality (AHT -2.4%), Stag Industrial (STAG -4.6%), American Campus (ACC -2.3%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Treasury yields on the rise after weak 30-year auction (April 9)
    | Apr. 9, 2015, 3:24 PM | 37 Comments
  • Mar. 6, 2015, 10:31 AM
    • Equity REITs are facing some competition as the 10-year Treasury yield has popped all the way to 2.24% (up 11 bps on the session) following the strong jobs report which saw 295K jobs added in February and the unemployment rate dropping to 5.5%.
    • Checking short-term interest rate futures, they're falling (meaning higher rates), but still not pricing in a rate hike until late summer.
    • The iShares U.S. Real Estate ETF (IYR -2.3%).
    • Realty Income (O -3.7%), National Retail Properties (NNN -3.9%), Agree Realty (ADC -3.1%), Omega Heathcare (OHI -4.5%), Health Care REIT (HCN -3.5%), Ventas(VTR -3.7%), HCP (HCP -3.6%), Medical Properties (MPW -4%), Healthcare Trust (HTA -4%), AvalonBay (AVB -2.7%), Essex Property (ESS -2.3%), Simon Property (SPG -2.3%), General Growth (GGP -2.2%), Kimco (KIM -2.9%), Inland Real Estate (IRC -2.9%), DDR (DDR -2.7%), Federal Realty Investment (FRT -2.6%), Public Storage (PSA -2%), Sovran Self Storage (SSS -2.7%), Boston Properties (BXP -2.8%), First Potomac (FPO -3.2%), Digital Realty Trust (DLR -1.9%), Hospitality Properties (HT -2.1%), Ashford (AHT -2.7%), STAG Industrial (STAG -3%), American Campus (ACC -2.9%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Dollar and Treasury yields spike after strong jobs print (March 6)
    | Mar. 6, 2015, 10:31 AM | 63 Comments
  • Feb. 23, 2015, 4:41 PM
    • Medical Properties (NYSE:MPW) declares $0.22/share quarterly dividend, 4.8% increase from prior dividend of $0.21.
    • Forward yield 5.76%
    • Payable April 9; for shareholders of record March 12; ex-div March 10.
    | Feb. 23, 2015, 4:41 PM | 1 Comment
  • Feb. 12, 2015, 9:14 AM
    • Q4 normalized FFO of $48M up 26% from a year ago, with normalized FFO per share of $0.28 up 17%. Dividend is $0.21.
    • 2015 outlook: Normalized FFO per share of $1.21-$1.27 vs. $1.06 in 2014 is based on already-completed deals. The company expects to find similarly accretive deals this year.
    • Conference call at 11 ET
    • Previously: Medical Properties FFO in-line, misses on revenue (Feb. 12)
    • MPW flat premarket
    | Feb. 12, 2015, 9:14 AM | 2 Comments
  • Feb. 12, 2015, 8:56 AM
    • Medical Properties (NYSE:MPW): Q4 FFO of $0.28 in-line.
    • Revenue of $82.1M (+21.3% Y/Y) misses by $2.75M.
    | Feb. 12, 2015, 8:56 AM
  • Feb. 11, 2015, 5:30 PM
    | Feb. 11, 2015, 5:30 PM | 1 Comment
  • Jan. 21, 2015, 3:14 PM
    • Equity REITs had a nice run after bond yields peaked last year and began declining, but, says a now-cautious John Authers from the FT, that rally has turned into a stampede. And while the U.S. has led the way, U.K., European, and global REIT indexes have also had big gains.
    • Since October, the S&P 500 REITs index is up 19% vs. 1.4% for the S&P 500, and a 22.5% loss for the Alerian index of MLPs.
    • Valuation has now become a concern, with every REIT sector covered by SNL Securities trading at a premium to NAV (not the mortgage REITs though). Healthcare REITs - HCP, MPW, HTA, UHT, LTC, SBRA, OHI, HCN come to mind - are at a 25% premium.
    • SNL's Jason Lail dismissed some concerns, noting REITs trade at a 12.% premium to NAV, well within the 20% above and below NAV they typically range between. Also, fundamentals remain sound, with supply still constricted in many areas.
    • JPMorgan's Jason Ko notes pockets of value, particularly office REITs which trade a minimal premium. Boston Properties (BXP -0.1%) is a particular favorite. Others in the sector include: EQC, WRE, CSG, FPO, HIW.
    • Simon Property (SPG +0.2%) is Ko's biggest holding as mall bankruptcies and chain closings should leave the survivors stronger. His 2nd-largest holding is industrial player ProLogis (PLD +0.2%).
    • ETFs: IYR, VNQ, WPS, VNQI, DRN, RWX, URE, SRS, ICF, SCHH, RWR, RWO, IFGL, KBWY, DRV, DRW, REK, FRI, GRI, IFEU, FTY, FFR, RWXL, PSR, IFNA, WREI, REET
    | Jan. 21, 2015, 3:14 PM | 19 Comments
  • Jan. 9, 2015, 7:21 AM
    • The stock zoomed higher in yesterday's trade following the announcement of a secondary on Wednesday night, and the company priced the 30M share offering at $14.50, 1.8% higher than the Wednesday close of $14.24.
    • MPW -1% premarket to $14.59.
    • Previously: Medical Properties Trust -2.5% on 30M share secondary (Jan. 7)
    | Jan. 9, 2015, 7:21 AM
  • Jan. 7, 2015, 5:35 PM
    | Jan. 7, 2015, 5:35 PM
  • Jan. 7, 2015, 4:12 PM
    • In addition to the 30M share sale, the underwriter greenshoe option is for another 4.5M shares. Proceeds will be used to pay down the credit line after it was drawn on to help fund the recent $880M German purchase.
    • MPW -2.5% after hours
    | Jan. 7, 2015, 4:12 PM | 7 Comments
  • Jan. 5, 2015, 4:01 PM
    • Equity REITs are green across the board, and mortgage REITs and BDCs are showing some (but not a ton of) gains as the broader markets tumble to start the week.
    • A sampling: Realty Income (O +2.1%), Omega Healthcare (OHI +1.6%), Medical Properties Trust (MPW +2.4%), Equity Residential (EQR +0.9%), General Growth Properties (GGP +0.7%), Kimco (KIM +0.9%), Public Storage (PSA +0.5%), CYS Investments (CYS +0.5%), Solar Capital (SLRC +1.1%).
    | Jan. 5, 2015, 4:01 PM | 7 Comments
  • Dec. 31, 2014, 2:25 AM
    • Real-estate investment trusts were among the hottest stocks of the year, producing a total return of 32.3%, including dividends, according to the FTSE Nareit Equity REITs Index.
    • Boosted by low interest rates and an improving economy, the sector has climbed this year to its biggest gains in nearly a decade.
    • Analysts are predicting REIT shares to continue to perform well in 2015, as a stronger economy and increased M&A activity drown out the risk of possible rate rises.
    • With its shares rising 68.3% this year, the top-performing REIT in 2014 was Winthrop Realty Trust (NYSE:FUR).
    • Related tickers: ARCP, DEI, DCT, PEB, SHO, EXR, FRT, EPR, MPW, NYRT, MAC, AVIV, CPT, EQR , PKY, MAC, SKT, WRI
    • ETFs: IYR, VNQ, DRN, URE, SRS, RWR, SCHH, ICF, DRV, KBWY, REK, FRI, FTY, PSR, WREI
    | Dec. 31, 2014, 2:25 AM | 3 Comments
  • Dec. 19, 2014, 9:49 AM
    | Dec. 19, 2014, 9:49 AM
  • Dec. 16, 2014, 9:23 AM
    • The purchase/leaseback deal on 40 hospital facilities received quicker-than-expected antitrust approval from German regulators and closed yesterday vs. the hoped-for closing date at some point in Q1.
    • With the extra weeks, MPW expects to fund and begin accrual income on up to about $500M of the purchase this year.
    | Dec. 16, 2014, 9:23 AM
  • Dec. 2, 2014, 8:46 AM
    • S&P boosts MPW's credit rating to BB+ from BB, with stable outlook.
    • "Over the past year, we have successfully executed our strategy to increase the size of our asset base and diversify our portfolio, which has included enhancing our presence in Western Europe,” says company CEO Edward Aldag.
    | Dec. 2, 2014, 8:46 AM | 1 Comment
Company Description
Medical Properties Trust, Inc. is a self-advised real estate investment trust formed to capitalize on the changing trends in healthcare delivery by acquiring and developing net-leased healthcare facilities. The company's facilities include inpatient rehabilitation hospitals, long-term acute care... More
Sector: Financial
Industry: REIT - Healthcare Facilities
Country: United States