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Medical Properties Trust Q1 Normalized FFO Rises

Medical Properties Trust Inc. (MPW) reported that its first-quarter normalized funds from operations rose to $244 million or $0.42 per share from $191 million or $0.37 per share in the year earlier period.

Net income for the first quarter ended March 31, 2021 was $164 million or $0.28 per diluted share compared to $81 million or $0.15 per share in the year earlier period.

Total revenues for the quarter were $362.77 million up from $294.13 million in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share and revenues of $343.87 million for the first-quarter. Analysts' estimates typically exclude special items.

Medical Properties Trust expects an annual run-rate of $1.14 to $1.18 per share for net income and $1.72 to $1.76 per share for NFFO. Analysts expect annual earnings of $1.23 per share.

Medical Properties Trust expects to replace the 800 million pounds priory real estate loan with sale-leaseback transactions involving 35 properties by the end of the second quarter, at which time the company will begin to recognize a GAAP investment yield of 8.6%.

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