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Dec 31, 2023
Medical Properties Trust Q4 2023 Earnings Report
Medical Properties Trust reported a net loss for Q4 2023, impacted by significant write-offs and impairments related to Steward, while also announcing progress in its capital allocation strategy through asset divestiture agreements.
Key Takeaways
Medical Properties Trust, Inc. reported a net loss of $664 million, or $1.11 per share, for the fourth quarter of 2023. This includes $772 million in non-recurring write-offs and impairments, primarily related to Steward. Normalized Funds from Operations (NFFO) was $0.36 per share. The company is focused on accelerating its capital allocation strategy, targeting $2 billion of incremental liquidity in 2024 through asset divestitures.
Reported a net loss of $1.11 per share for Q4 2023, which includes $1.29 per share in non-recurring write-offs and impairments, primarily related to Steward.
Normalized Funds from Operations (NFFO) was $0.36 per share for Q4 2023, including $0.12 per share of revenue from Steward recognized prior to moving to cash basis accounting.
Entered into agreements to divest five hospitals to Prime Healthcare for $350 million and sell a noncontrolling interest in South Carolina hospitals for $17 million.
Executed the sale of its syndicated term loan investment in MEDIAN for approximately $115 million.
Medical Properties Trust
Medical Properties Trust
Medical Properties Trust Revenue by Segment
Revenue by Segment
Rent Billed Revenue
CapyFin.comStraight-line Rent Revenue
CapyFin.comIncome from Financing Leases Revenue
CapyFin.comInterest and Other Income Revenue
CapyFin.com Forward Guidance
Due to uncertainty regarding its hospitals leased to Steward and the timing of liquidity transactions, the Company is not providing an estimate of full-year 2024 net income or normalized funds from operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income