Medical Properties Trust, Inc. (MPW) - NYSE
  • Fri, Jun. 24, 10:30 AM
    • A sharp drop in long-term rates and vanquished expectations for even one rate hike this year has income players bidding up the prices of utility stocks (XLU +0.7%) and certain REITs even as the major average fall more than 2% post-Brexit.
    • A check of Fed Funds futures finds traders not fully pricing in a 25 basis point rate hike until 2018!
    • The mortgage REIT sector (REM +0.5%) welcomes the news, with players like Annaly (NLY +1.7%), American Capital Agency (AGNC +1.1%), Two Harbors (TWO +1.7%), and Chimera (CIM +1.3%) leading the way. Western Asset Mortgage (WMC -0.8%) is a laggard after slashing its dividend by more than 30% last night.
    • Equity REITs are decidedly mixed. Retail names like Realty Income (O +2.4%), National Retail (NNN +2%), and Vereit (VER +0.9%) are higher, as are healthcare players like HCP (HCP +1.2%) and Medical Properties Trust (MPW +0.1). Apartment REITs are mostly lower, as are mall operators like Simon Property (SPG -0.8%) and General Growth (GGP -0.7%).
    • The dollar is surging post-Brexit, however, and that's taking a chunk out of the hotel REITs: Hospitality Properties (HPT -1.5%), Sunstone Hotel (SHO -2.7%), LaSalle (LHO -3.8%), Pebblebrook (PEB -2.4%), RLJ Lodging (RLJ -2.5%).
    • ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, PUI, SDP, PSCU, FUGAX, UTLF, JHMUVNQ, IYR, DRN, RQI, URE, SCHH, ICF, RWR, SRS, RNP, RFI
    | Fri, Jun. 24, 10:30 AM | 43 Comments
  • Wed, May 18, 2:42 PM
    | Wed, May 18, 2:42 PM | 91 Comments
  • Wed, May 4, 10:04 AM
    • Q1 normalized FFO of $83.5M or $0.35 per share vs. $56.9M and $0.28 one year ago. Full-year guidance of $1.29-$1.33 is reaffirmed.
    • Bought net debt to EBITDA ratio down to 5.6x, among the top-third of all REITs. Helping was $550M in proceeds from the Capella sales.
    • Conference call at 11 ET
    • Previously: Medical Properties FFO in-line, beats on revenue (May 4)
    • MPW +2.5%
    | Wed, May 4, 10:04 AM | 7 Comments
  • Tue, Feb. 9, 12:05 PM
    • Healthcare facility owners are seeing steep losses after HCP (HCP -14.8%), Brookdale Senior Living (BKD -16%), and Medical Properties Trust (MPW -3.8%) issued soft 2016 guidance with their Q4 beats.
    • HCP reported Q4 FFO/share of $0.80 (beat by $0.02), but guided for 2016 FFO/share of $2.74-$2.80 vs. a $3.16 consensus. Brookdale reported Q4 CFFO/share of $0.58 (beat by $0.12), but guided for 2016 CFFO of $2.45-$2.55 vs. a $2.62 consensus. MPW reported Q4 FFO/share of $0.35 (beat by $0.01), but guided for 2016 FFO/share of $1.29-$1.33 vs. a $1.33 consensus.
    • In addition to HCP/Brookdale/MPW, the casualty list includes Omega Healthcare Investors (OHI -9.6%), Capital Senior Living (CSU -6.2%), Five Star Quality Care (FVE -7%), Welltower (HCN -9%), Genesis Healthcare (GEN -9.6%), , Sabra Health Care REIT (SBRA -6.3%), National Health Investors (NHI -4.6%), Ventas (VTR -5.9%), and Physicians Realty Trust (DOC -3.9%).
    | Tue, Feb. 9, 12:05 PM | 44 Comments
  • Nov. 6, 2015, 10:14 AM
    | Nov. 6, 2015, 10:14 AM | 142 Comments
  • Oct. 8, 2015, 10:58 AM
    • This just in: REITs are in a sustained rally. The iShares DJ U.S. Real Estate ETF (NYSEARCA:IYR) is up 0.6% today (with the major averages lower), and is now ahead about 7.5% since hitting its low for the year around Labor Day.
    • A more dovish outlook on interest rates is no doubt helping - the 10-year Treasury yield is 2.07% vs. 2.20 in early Sept., and the Fed looks to be on hold until Dec. at a minimum - but low prices also cure low prices.
    • With so many names trading below conservative estimates of net asset values, buyers are stepping in - and not just for the stocks, but for the whole companies. In just the last month, Blackstone has agreed to buy Strategic Hotels and (this morning) BioMed Realty. The P-E giant's real estate chief Jon Gray says look for more to come.
    • Spirit Realty (SRC +0.8%), Ventas (VTR +0.4%), Medical Properties Trust (MPW +2%), Gramercy Property (GPT +0.3%), Lexington Realty (LXP +1.1%), AvalonBay (AVB +0.9%), General Growth (GGP +1.1%), Inland Real Estate (IRC +0.7%), CubeSmart (CUBE +0.5%), Washington Real Estate (WRE +0.9%), Sunstone Hotel (SHO +1.3%), Liberty Property (LPT +1.1%)
    • ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
    | Oct. 8, 2015, 10:58 AM | 18 Comments
  • Aug. 6, 2015, 10:20 AM
    • Medical Properties Trust (MPW -4.3%) announced a 43.75M share secondary on Tuesday evening, but only moved 25M shares at $12.25 each. The underwriters have an option to buy up to another 3.75M shares at that price.
    • The stock's now lower by 12.2% to $12.11 in the two-plus sessions since the Q2 earnings release.
    • Previously: Medical Properties Trust raises capital (Aug. 4)
    | Aug. 6, 2015, 10:20 AM | 4 Comments
  • Aug. 4, 2015, 4:07 PM
    | Aug. 4, 2015, 4:07 PM | 14 Comments
  • 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
  • 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
  • Oct. 31, 2014, 10:46 AM
    • There was little reaction to the company's Q3 about inline earnings results yesterday, but Medical Properties Trust (MPW +2.7%) is gaining in today's session as JMP Securities - looking like it's a believer in MPW's $1B+ in recent deals - upgrades to Market Outperform.
    | Oct. 31, 2014, 10:46 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