Zacks Investment Research upgraded shares of Medical Properties Trust (NYSE:MPW) from a hold rating to a buy rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has $24.00 price target on the real estate investment trust’s stock.
According to Zacks, “Medical Properties Trust, Inc. is a self-advised real estate investment trust formed to capitalize on the changing trends in healthcare delivery by acquiring and developing net-leased healthcare facilities. MPT’s financing model allows hospitals and other healthcare facilities to unlock the value of their underlying real estate in order to fund facility improvements, technology upgrades, staff additions and new construction. Facilities include acute care hospitals, inpatient rehabilitation hospitals, long-term acute care hospitals, and other medical and surgical facilities. “
MPW has been the topic of a number of other reports. KeyCorp increased their price objective on shares of Medical Properties Trust from $22.00 to $24.00 and gave the company an overweight rating in a research report on Thursday, January 21st. Barclays increased their target price on shares of Medical Properties Trust from $23.00 to $25.00 and gave the company an overweight rating in a research report on Monday, February 8th. TheStreet downgraded shares of Medical Properties Trust from a b rating to a c+ rating in a research report on Thursday, February 4th. Finally, Truist downgraded shares of Medical Properties Trust from a buy rating to a hold rating and increased their target price for the company from $21.00 to $22.00 in a research report on Friday, January 22nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $22.89.
Medical Properties Trust (NYSE:MPW) last announced its quarterly earnings data on Thursday, February 4th. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.21). Medical Properties Trust had a net margin of 38.50% and a return on equity of 6.60%. The firm had revenue of $333.80 million during the quarter, compared to analysts’ expectations of $332.44 million. During the same period in the prior year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities research analysts anticipate that Medical Properties Trust will post 1.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 8th. Investors of record on Thursday, March 18th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 17th. This represents a $1.12 dividend on an annualized basis and a yield of 5.11%. This is a boost from Medical Properties Trust’s previous quarterly dividend of $0.27. Medical Properties Trust’s dividend payout ratio is currently 86.15%.
In related news, CEO Edward K. Aldag, Jr. sold 710,000 shares of the stock in a transaction on Tuesday, March 30th. The shares were sold at an average price of $21.21, for a total transaction of $15,059,100.00. Following the completion of the sale, the chief executive officer now owns 3,251,167 shares in the company, valued at approximately $68,957,252.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO R Steven Hamner sold 250,000 shares of the stock in a transaction on Wednesday, February 24th. The stock was sold at an average price of $22.49, for a total transaction of $5,622,500.00. Following the sale, the chief financial officer now owns 1,792,688 shares of the company’s stock, valued at approximately $40,317,553.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 993,000 shares of company stock valued at $21,385,160. 1.18% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in MPW. Fieldpoint Private Securities LLC acquired a new stake in shares of Medical Properties Trust in the 4th quarter worth $26,000. AdvisorNet Financial Inc lifted its stake in shares of Medical Properties Trust by 80.0% in the 4th quarter. AdvisorNet Financial Inc now owns 1,197 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 532 shares during the period. DB Wealth Management Group LLC acquired a new stake in shares of Medical Properties Trust in the fourth quarter valued at about $30,000. Liberty Wealth Management LLC acquired a new stake in shares of Medical Properties Trust in the fourth quarter valued at about $32,000. Finally, Key Financial Inc acquired a new stake in shares of Medical Properties Trust in the fourth quarter valued at about $35,000. Institutional investors own 80.17% of the company’s stock.
Medical Properties Trust Company Profile
Medical Properties Trust, Inc is a self-advised real estate investment trust, which engages in the investment, acquisition, and development of net-leased healthcare facilities. Its property portfolio includes rehabilitation hospitals; long-term acute care hospitals; ambulatory surgery centers; hospitals for women and children; regional and community hospitals; medical office buildings; and other single-discipline facilities.
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