Zacks Investment Research upgraded shares of Medical Properties Trust (NYSE:MPW) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $24.00 price target on the real estate investment trust’s stock.
According to Zacks, “Medical Properties Trust, Inc. is a self-advised real estate investment trust formed to capitalize on the changing trends in healthcare delivery by acquiring and developing net-leased healthcare facilities. MPT’s financing model allows hospitals and other healthcare facilities to unlock the value of their underlying real estate in order to fund facility improvements, technology upgrades, staff additions and new construction. Facilities include acute care hospitals, inpatient rehabilitation hospitals, long-term acute care hospitals, and other medical and surgical facilities. “
Several other brokerages have also weighed in on MPW. Deutsche Bank Aktiengesellschaft upgraded Medical Properties Trust from a hold rating to a buy rating and set a $24.00 price objective for the company in a report on Tuesday, December 15th. TheStreet lowered Medical Properties Trust from a b rating to a c+ rating in a report on Thursday, February 4th. Barclays upped their price objective on Medical Properties Trust from $23.00 to $25.00 and gave the company an overweight rating in a report on Monday, February 8th. KeyCorp boosted their target price on Medical Properties Trust from $22.00 to $24.00 and gave the stock an overweight rating in a research report on Thursday, January 21st. Finally, Truist lowered Medical Properties Trust from a buy rating to a hold rating and boosted their target price for the stock from $21.00 to $22.00 in a research report on Friday, January 22nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Medical Properties Trust has an average rating of Buy and an average target price of $22.89.
Medical Properties Trust (NYSE:MPW) last announced its quarterly earnings data on Thursday, February 4th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.21). The firm had revenue of $333.80 million during the quarter, compared to analyst estimates of $332.44 million. Medical Properties Trust had a net margin of 38.50% and a return on equity of 6.60%. The company’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. Equities research analysts predict that Medical Properties Trust will post 1.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 8th. Investors of record on Thursday, March 18th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.14%. This is a positive change from Medical Properties Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, March 17th. Medical Properties Trust’s payout ratio is presently 86.15%.
In other Medical Properties Trust news, CAO James Kevin Hanna sold 33,000 shares of the company’s stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $21.32, for a total value of $703,560.00. Following the transaction, the chief accounting officer now directly owns 69,679 shares of the company’s stock, valued at approximately $1,485,556.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Edward K. Aldag, Jr. sold 710,000 shares of the company’s stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $21.21, for a total value of $15,059,100.00. Following the completion of the transaction, the chief executive officer now directly owns 3,251,167 shares in the company, valued at $68,957,252.07. The disclosure for this sale can be found here. Insiders have sold 993,000 shares of company stock worth $21,385,160 over the last three months. 1.18% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Fieldpoint Private Securities LLC acquired a new position in Medical Properties Trust in the 4th quarter worth about $26,000. AdvisorNet Financial Inc increased its position in Medical Properties Trust by 80.0% in the 4th quarter. AdvisorNet Financial Inc now owns 1,197 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 532 shares during the last quarter. DB Wealth Management Group LLC acquired a new position in shares of Medical Properties Trust during the 4th quarter valued at about $30,000. Liberty Wealth Management LLC bought a new position in shares of Medical Properties Trust in the 4th quarter valued at approximately $32,000. Finally, Key Financial Inc acquired a new stake in Medical Properties Trust in the 4th quarter worth approximately $35,000. 80.17% of the stock is currently owned by institutional investors.
About Medical Properties Trust
Medical Properties Trust, Inc is a self-advised real estate investment trust, which engages in the investment, acquisition, and development of net-leased healthcare facilities. Its property portfolio includes rehabilitation hospitals; long-term acute care hospitals; ambulatory surgery centers; hospitals for women and children; regional and community hospitals; medical office buildings; and other single-discipline facilities.
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