BIRMINGHAM, AL—Hooper Rosa Handley, Senior Vice President of Operations at Medical Properties Trust Inc . (NYSE:MPW), recently sold 3,000 shares of the company's common stock. The transaction, which took place on December 23, 2024, was executed at a price of $3.67 per share, amounting to a total value of $11,010. The sale occurred as MPW shares, currently trading at $3.76, show signs of being undervalued according to InvestingPro analysis, with the stock in oversold territory and offering an 8.5% dividend yield.
Following this sale, Handley retains ownership of 356,600 shares in the real estate investment trust, representing a stake in the $2.26 billion market cap company. The transaction was disclosed in a filing with the Securities and Exchange Commission, signed by W. Zachary Riddle under power of attorney on December 26, 2024. InvestingPro identifies several additional key metrics and insights for MPW, available in the comprehensive Pro Research Report covering 1,400+ US equities.
In other recent news, Medical (TASE:PMCN) Properties Trust reported significant developments, starting with its financial performance. The company reported a GAAP net loss of $1.34 per share for the third quarter of 2024, and its normalized funds from operations stood at $0.16 per share. The company also highlighted asset sales totaling around $2.9 billion year-to-date, aimed at enhancing liquidity and financial flexibility.
Medical Properties Trust has entered into a definitive agreement with Astrana Health for a deal valued at about $745 million, which includes the sale of the majority of Prospect's managed care platform. The company expects to net around $200 million in cash proceeds after settling debts and other liabilities, with the majority of the cash proceeds anticipated in the first half of 2025.
Truist Securities revised its price target on shares of Medical Properties Trust to $4.00, a decrease from the previous target of $6.00. The firm has decided to maintain a Hold rating on the stock, following observations of underwhelming capital allocation and risk management practices at the company.
In addition, Medical Properties Trust announced a settlement agreement with Viceroy Research, concluding a defamation lawsuit. The specifics of the agreement remain undisclosed. The company is also facing a substantial amount of maturing debt, with $4.4 billion in unsecured notes at 3.7% interest due between 2025-2027, and an additional $3.5 billion at 3.8% interest slated for maturation between 2028-2031. These recent developments are crucial for investors to consider in their evaluation of the company's future prospects.
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