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Medical Properties Trust faces NYSE non-compliance notice

Published 2024-05-16, 10:48 a/m

BIRMINGHAM - Medical Properties Trust, Inc. (NYSE: NYSE:MPW), a self-advised real estate investment trust, has received a notice of non-compliance from the New York Stock Exchange (NYSE) due to a delay in filing its quarterly financial report, the company disclosed Thursday.

The delay stems from additional review procedures required after Steward Health Care System LLC, a tenant of the trust, filed for voluntary bankruptcy just days before the report's due date. Medical Properties Trust's independent accounting firm, PricewaterhouseCoopers LLP, has indicated that more time is needed to complete its review of the quarterly report for the period ended March 31, 2024.

The NYSE notice, received on May 16, 2024, does not immediately affect the listing of the company's common stock. The trust has a six-month grace period, until November 15, 2024, to file the report and regain compliance with NYSE's listing standards. The exchange may extend this period by an additional six months if necessary.

Medical Properties Trust, founded in 2003, has grown to become one of the world's largest owners of hospital real estate, boasting 436 facilities and approximately 43,000 licensed beds across nine countries as of March 31, 2024. The company's financing model allows hospital operators to leverage their real estate assets for improvements and investments.

This announcement is based on a press release statement from Medical Properties Trust, Inc.

InvestingPro Insights

Amid the recent news of compliance issues faced by Medical Properties Trust, Inc. (NYSE: MPW), investors are keenly observing the company's financial health and market performance. According to real-time data from InvestingPro, Medical Properties Trust currently has a market capitalization of approximately $3.25 billion. Despite the challenges, the company has showcased a significant return over the last week, with a 15.57% price total return, and an even more impressive 20.95% return in the last month. These figures suggest a strong short-term performance for the stock.

InvestingPro Tips for MPW highlight a high shareholder yield and a consistent history of dividend payments, with the company maintaining these payments for 20 consecutive years. The current dividend yield stands at a notable 11.07%, which could be attractive for income-seeking investors. Moreover, analysts are optimistic about MPW's financial prospects, expecting net income and sales growth in the current year.

While the trust's price-to-earnings (P/E) ratio is negative, indicating that it was not profitable over the last twelve months, the robust gross profit margin of 95.13% suggests efficient cost management relative to revenue. Investors may also find reassurance in the company's liquidity, with liquid assets surpassing short-term obligations.

For those considering a deeper analysis of MPW, InvestingPro offers additional insights and metrics. There are currently 14 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/MPW. For a more comprehensive understanding of Medical Properties Trust's investment potential, interested parties can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, allowing them to leverage the full suite of InvestingPro features.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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