Medical Properties Trust, Inc. Reports Third Quarter Results
https://www.bloomberg.com/press-releases/...rts-third-quarter-results * Net income of $0.25 and Normalized Funds from Operations (“NFFO”) of $0.41 in the third quarter, both on a per diluted share basis;
* Collection of materially all current rent and interest due from operators expected in fourth quarter with definitive agreements in place to collect, with interest, the 2% of 2020 rents previously deferred due to the COVID-19 pandemic; * Closed in early August on the acquisition of a MEDIAN inpatient rehab facility in Dahlen, Germany for €12.5 million; * Acquired BMI Woodlands Hospital in Darlington, United Kingdom in early August for £29.4 million; * Completed in mid-August an investment in Prime St. Francis Medical Center in Lynwood, CA for $300 million; * Sold approximately 7.0 million common shares since June 30, 2020 through the Company’s “at-the-market” program for net proceeds of approximately $129 million. Net income for the third quarter of 2020 was $131.1 million (or $0.25 per diluted share), compared to $89.8 million ($0.20 per diluted share) in the third quarter of 2019.
NFFO for the third quarter of 2020 was $220.7 million (or $0.41 per diluted share), compared to $147.5 million ($0.33 per diluted share) in the third quarter of 2019. Based on year-to-date transactions, along with an assumed capital structure that results in a net debt to EBITDA ratio of approximately 5.5 times, MPT expects an annual run-rate of $1.09 to $1.12 per diluted share for net income and $1.68 to $1.71 per diluted share for NFFO.
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