MPW - Here's Why Medical Properties Trust Stock Slumped 12% in the 1st Half of 2024
2024-07-15 10:15:00 ET
Shares of Medical Properties Trust (NYSE: MPW) declined by 12.2% in the first half of 2024, according to data from S&P Global Market Intelligence . Tenant issues and the impacts of higher interest rates continued to plague the real estate investment trust (REIT). On a more positive note, the hospital owner did take several positive steps to address those issues this year.
Here's a look back at all the news of note for the healthcare REIT in the first half of 2024 and whether it can rebound in the back half of the year.
This year started on a sour note for Medical Properties Trust. The REIT revealed in early January that its top tenant, Steward Health Care, couldn't resume making full rental payments as planned even after selling a noncore business in the fourth quarter. The hospital operator continued to face financial difficulties. As a result, the REIT agreed to defer more rent and planned to work with Steward on a long-term solution.
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Here's Why Medical Properties Trust Stock Slumped 12% in the 1st Half of 2024