2024-04-22 17:24:21 ET
Summary
- Medical Properties Trust has finally declared its delayed dividend distribution, offering a substantial 13.6% dividend yield.
- MPW's dividend yield is 180% higher than its peer group median, with the REIT trading at an incredibly cheap 3x multiple to its annualized 2023 fourth-quarter FFO.
- MPW has raised $1.6 billion in funds since the start of 2024 as the pending sale of Steward Health Care's physician network to UnitedHealth is set to derisk its financials.
Medical Properties Trust ( MPW ) finally declared its long-delayed dividend distribution, announcing a $0.15 per share distribution to now be paid on May 1. The prior absence of a first-quarter distribution had formed a point of angst for some shareholders and was the focal point of my last article on the ticker. MPW's dividend annualized at $0.60 per share means a substantial 13.6% dividend yield, a near-historic high, even as the REIT continues to make significant progress in enhancing its liquidity base to increase balance sheet depth and address upcoming debt maturities. MPW at its current price of $4.42 per share is a buy....
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Medical Properties Trust: Dividend Declared, 13.6% Yield, Undervalued At 3x FFO (Rating Upgrade)