The real estate investment trust, which specializes in leasing facilities to hospital operators, saw its stock climb 13% to $6.08 during mid-day trading. The rally marks a continued recovery for the REIT, which has seen its share price rise 43% over the last six months as it works to stabilize its portfolio.
In section Market Quotes
Medical Properties Trust Shares Surge on Q4 Profit Swing
Shares of Medical Properties Trust jumped Thursday after the healthcare real estate giant reported a return to profitability and revenue growth that significantly outpaced Wall Street expectations for the fourth quarter.
Outperforming Market Expectations
Financial results for the period showed a net profit of $17.3 million, or 3 cents per share. This performance marks a sharp reversal from the $413.8 million loss recorded in the prior-year quarter. Total revenue reached $270.3 million, up from $231.8 million a year earlier, according to the company's earnings report.The figures comfortably cleared hurdles set by institutional investors. Analysts polled by FactSet had projected revenue of $240.4 million and normalized funds from operations (FFO) of 15 cents per share. Medical Properties Trust ultimately delivered a normalized FFO of 18 cents per share, maintaining consistency with its performance from the same period last year.
Comments (0)
No comments yet. Be the first!