MPW had a rough day of it. It followed the S&P 500, and Dow Jones more so than it did its sector(services) and subsector(healthcare Reits). MPW and its trusty companion HCP rode off in their own direction today, leaving behind the profitable trails of their healthcare reit friends, friends like SBRA, who finished the day up up .39 dollars. If you follow these sorts of numbers on a daily basis, you'll start to notice fun little coincidences. For example, today SBRA's price increase is the inverted percentage of the S&P 500's percentage loss. Its kind of fun, but I digress.
MPW was clearly lured off of the paths of profitability today, but why, and how? Well, there are several culprits which could have led to this flight of fancy. MPW may have been experiencing what could be called, lack of institutional ownership syndrome, since most healthcare Reits are 80-90 % institutionally owned, they tend to show more cohesive, or at least stable prices. Since MPW is on the low end of this spectrum in that its only 66% institutionally owned, it may thus be more likely to be buffeted by the high winds of prevailing market trends than are these other Reits, nestled closely into the wombs of the safe harbors in which they abide.
Either way, MPW finished down, but not at its daily, low, nore clearly its daily high, its price action sort of plateaud out toward the end of the day.
Overall the DJ was down .11%, and the S&P 500 was down .39%. Thus all things considered MPW, didn't stray as far from the trail as its 1.6 beta would indicate, and it still did relatively well, as a less sheltered voyager on the stormy seas of the stock market.