Introduction
Founded in 2003 in Birmingham, Alabama, Medical Properties Trust, Inc. (NYSE:MPW) has made a name for itself as the top hospital-focused REIT, by focusing on a segment of the market that is itself facing some headwinds, given the changing face of healthcare consumption. As healthcare costs have risen dramatically over the years, far exceeding most other inflation measures (thanks in part to surging demand from an aging population), inpatient care has increasingly been replaced by outpatient solutions, spelling a boom market for MOB's (medical office buildings), but a consolidation in inpatient care