2024-03-12 16:56:04 ET
Summary
- Medical Properties is yet to declare its first quarter dividend, sparking anxiety for its already beleaguered investors.
- The REIT generated fourth-quarter normalized funds from operations of $0.36 per share against a reduced $0.15 per share dividend distribution.
- Steward continues to draw liquidity from the REIT as management targets raising $2 billion of additional liquidity in 2024.
Medical Properties Trust ( MPW ) is yet to declare its first quarter dividend for 2024, this would usually have happened in the third week of February. I believe its delay likely reflects a level of Board anxiety around the still precarious state of the REIT's largest tenants, pending liquidity transactions, possibly the UnitedHealth ( UNH ) hack, and a level of uncertainty around the timeline of Fed rate cuts. The hospital owner has staged a remarkable rally from record lows at the start of the year on the back of what shareholders currently consider a safe double-digit yield. MPW last declared a quarterly cash dividend of $0.15 per share , kept unchanged sequentially from the previously reduced distribution and $0.60 per share annualized for a 14.3% dividend yield....
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Medical Properties Trust Needs To Maintain The Dividend Or Bears Will Takeover Again