logo
Share SHARE
FONT-SIZE Plus   Neg

Medical Properties Trust Q1 Normalized FFO Increases, But Misses View

Real estate investment trust Medical Properties Trust, Inc, (MPW) Friday reported an increase in first-quarter normalized funds from operations, or FFO, but below analysts' expectations. The company's net income and revenues for the period registered a growth compared to last year.

For the three month period, the company reported normalized FFO of $34.8 million or $0.25 per share, compared with $22.5 million or $0.18 per share during corresponding quarter last year. On average, ten analysts polled by Thomson Reuters expected $0.26 per share for the quarter. Analysts' estimates typically exclude one-time items.

The company recorded net income of $26.2 million or $0.18 per share, compared with $10.6 million or $0.08 per share for the same quarter last year.

The firm generated revenues of $58.4 million, a 42 percent increase from $41.3 million reported last year. The Street expected the company to record revenues of $59.4 million for the quarter.

The Company expects to realize a gain on sale of property of approximately $2.1 million in the second quarter of 2013. The Company continues to believe that acquisition volume and timing, along with current capital market conditions, will generate Normalized FFO per share of $1.10. Analyst expect the company to report $1.10 per share for the year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Poultry giant Sanderson Farms has blamed the national anthem protests in National Football League for its lower sales for the fourth-quarter and full year. Sanderson Farms, which is one of the biggest chicken providers in the US, said that NFL protests involving players taking a knee during the national... Amazon would reportedly sell Google's Chromecast streaming adapter for this Christmas. The online retailer giant has banned the product from its site for the last two years and has presumably settle the issues. Though the product is not available for sale, it has listed 4K-capable Chromecast Ultra adapter. Europe's no-frills airline Ryanair recognized pilot union for a smooth holiday season ahead. The airline had a discussion with its pilots union in Britain, Germany, Italy, Spain, Ireland, Portugal to iron out the issues. The pilots working for Ryanair have been enjoying different status and many of them were reportedly not in the rolls as full timers.
comments powered by Disqus
Follow RTT