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Medical Properties Trust, Inc. (MPW)

- NYSE
  • Tue, May 5, 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%).
    | 21 Comments
  • Thu, Apr. 9, 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)
    | 37 Comments
  • Fri, Mar. 6, 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)
    | 62 Comments
  • Fri, Jan. 9, 7:21 AM
    | Comment!
  • Wed, Jan. 7, 5:35 PM
    | Comment!
  • Wed, Jan. 7, 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.
    • Source: Press Release
    • MPW -2.5% after hours
    | 7 Comments
  • Mon, Jan. 5, 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%).
    | 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.
    | 1 Comment
  • Oct. 13, 2014, 4:19 PM
    • Both equity and mortgage REITs saw plenty of buying as nearly all of the rest of the market was lit up bright red, and Treasury ETFs signaled a sharp drop in yields when government bonds reopen for trade tomorrow (closed this session for Columbus Day).
    • A sampling of equity names: Senior Housing Properties (SNH +1.2%), Medical Properties Trust (MPW +1.4%), Gramercy Property Trust (GPT +1.7%), Equity Residential (EQR +0.7%), Inland Real Estate (IRC +0.9%), Sovran Self Storage (SSS +1.1%), Highwoods Properties Trust (HIW +1%).
    • One equity REIT sector in the red along with the rest of the market is lodging amid worsening Ebola fears: Ashford Hospitality Trust (AHT -2.9%), Sunshine Hotel Investors (SHO -1.4%), LaSalle Hotel Properties (LHO -1.5%), Summit Hotel Properties (INN -1.5%).
    • Mortgage REITs: American Capital Agency (AGNC +1.4%), CYS Investments (CYS +2.2%), Invesco (IVR +1.1%), American Capital Mortgage (MTGE +1.5%), Western Asset (WMC +1.1%).
    • ETFs: IYR, VNQ, REM, MORL, MORT, DRN, URE, REZ, SRS, RWR, SCHH, ICF, ROOF, DRV, KBWY, RTL, REK, FRI, FTY, PSR, IFNA, FNIO, WREI
    | 5 Comments
  • Jul. 10, 2014, 10:17 AM
    | 7 Comments
  • Jul. 2, 2014, 7:22 AM
    • Citing a preference for more economically-sensitive REIT sectors, Goldman downgrades the Healthcare REIT sector to Neutral from Attractive. Alongside the sector cut, the team downgrades Omega Healthcare Investors (OHI) to Neutral. It's off 1% premarket.
    • Among the other names in the sector: HCN, HCP, MPW, HTA, SNH, VTR, LTC, AVIV.
    | 17 Comments
  • Mar. 5, 2014, 5:47 PM
    • Top gainers, as of 5:15 p.m.: BORN +34.1%. ERII +31.2%. PXLW +9.0%. SEED +6.8%. ZGNX +4.7%.
    • Top losers, as of 5:15 p.m.: SYNC -10.6%. WX -7.5%. LOV -4.4%. MPW -4.1%. SUI -3.3%.
    | 3 Comments
  • Mar. 5, 2014, 4:13 PM
    • 7.7M shares are being offered to raise funds for the company and another 300K are being sold by Chairman and CEO Ed Aldag. The greenshoe is for another 1.2M shares. The current float is 161M shares.
    • MPW -1.4% AH
    • Press release
    | 2 Comments
  • Jan. 9, 2014, 7:33 AM
    • Coming alongside an upgrade of HCP to Buy, Jefferies also boosts Medical Properties Trust (MPW) to a Buy with a price target of $14.
    • "We are warming up to the MPW story given 1) an improved growth profile and acquisition outlook, which should support dividend and earnings growth going forward, and 2) increased comfort around the recent deals," says analyst Omotayo Okusanya. "Though there are risks going forward, we believe the stock's valuation at 11.5x FFO and 6.7% implied cap rate makes MPW a compelling risk/reward proposition."
    • Like HCP, MPW has struggled mightly since interest rates began their steep rise in May.
    • MPW +1.2% premarket
    | 2 Comments
  • Dec. 19, 2013, 11:19 AM
    • The broad market is quiet today following yesterday's big session, but the equity REIT sector has its eyes focused on rising Treasury yields, particularly in the belly of the curve where the 5-year yield is higher by 10 basis points on the session and all the way up to 1.64% (it was 1.3% at Thanksgiving).
    • Realty Income (O -3.6%), National Retail (NNN -2.4%), Health Care REIT (HCN -3.1%), LTC Properties (LTC -3.6%), Medical Properties (MPW -2.5%), Federal Realty (FRT -1.9%), Retail Opportunity (ROIC -1.1%), Chambers Street (CSG -1.8%).
    • Related ETFs: IYR, VNQ, DRN, URE, SRS, RWR, ICF, SCHH, DRV, KBWY, REK, FRI, FTY, PSR, WREI
    | 14 Comments
  • Aug. 19, 2013, 3:09 PM
    • A solid selloff in mortgage REITs (REM -3.7%) turns into a rout as the 10-year Treasury yield takes out another 2-year high at 2.89%. Looking at the short end, September 2015 Eurodollar futures at 98.65 are pricing in more than 100 bps of rate hikes between now and then.
    • American Capital (AGNC -5.8%), Armour (ARR -7.5%), Apollo (AMTG -4.9%), Ellington (EARN -4.8%), Anworth (ANH -5.5%), Western Asset (WMC -5.7%), Arlington Asset (AI -4.7%), Dynex (DX -5.1%), Newcastle (NCT -2.3%).
    • Mentioned before as starting to look very cheap, Annaly (NLY -4.9%) losses deepen with the stock at $10.72 - its lowest price since 2001 (the dividend fell to $0.25 at the end of 2000 before rising to $0.68 by the start of 2002).
    • Tumbling income funds include (KFN -2%), and (PTY -2.1%).
    • Among equity REITs, Realty Income (O -1.8%), Medical Properties (MPW -2.4%), and Simon Property Group (SPG -1%) lead down, but HCP (HCP +0.6%) remains green.
    | 85 Comments
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Company Description
Medical Properties Trust Inc is a self-advised real estate investment trust. The Company is engaged in the business of investing in, owning, and leasing healthcare real estate. The Company also makes mortgages and loans to healthcare operators.