2023-04-09 22:08:10 ET
Summary
- Medical Properties offers a dividend yield that is 790 basis points higher than peer REIT Healthcare Realty. This has been driven by common shares down 62% over the last year.
- This dichotomy is fundamentally driven by angst around a potential Medical Properties dividend cut, with Healthcare Realty's yield also being driven higher in recent months.
- Healthcare Realty presents a less contentious choice with a portfolio primarily built from medical office buildings versus Medical Properties' focus acute care facilities let out on triple net leases.
- Whilst Healthcare Realty is trading broadly in line with its book value, a large discount to book has opened up for Medical Properties.
For further details see:
Medical Properties Trust Vs. Healthcare Realty: One Has A 14.3% Yield That I'm Buying