Medical Properties Trust, Inc. MPT
Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. From its inception in Birmingham, Alabama, the Company has grown to become one of the world's largest owners of hospital real estate with 378 facilities and approximately 38,000 licensed beds in nine countries and across three continents as of March 31, 2026. MPT's financing model facilitates acquisitions and recapitalizations, and allows operators of hospitals to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations.
Snapshot
Reported FFO / Normalized FFO / leverage are from the Q1 2026 earnings release (filed 2026-04-30) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-18 | 2026-06-18 | 2026-07-16 | 2026-05-28 | $0.09 | Quarterly |
| 2026-03-12 | 2026-03-12 | 2026-04-09 | 2026-02-12 | $0.09 | Quarterly |
| 2025-12-11 | 2025-12-11 | 2026-01-08 | 2025-11-17 | $0.09 | Quarterly |
| 2025-09-11 | 2025-09-11 | 2025-10-09 | 2025-08-14 | $0.08 | Quarterly |
| 2025-06-18 | 2025-06-18 | 2025-07-17 | 2025-05-29 | $0.08 | Quarterly |
| 2025-03-10 | 2025-03-10 | 2025-04-10 | 2025-02-13 | $0.08 | Quarterly |
| 2024-12-12 | 2024-12-12 | 2025-01-09 | 2024-11-21 | $0.08 | Quarterly |
| 2024-09-09 | 2024-09-09 | 2024-10-10 | 2024-08-22 | $0.08 | Quarterly |
| 2024-06-10 | 2024-06-10 | 2024-07-09 | 2024-05-30 | $0.15 | Quarterly |
| 2024-04-19 | 2024-04-22 | 2024-05-01 | 2024-04-12 | $0.15 | Quarterly |
| 2023-12-06 | 2023-12-07 | 2024-01-11 | 2023-11-09 | $0.15 | Quarterly |
| 2023-09-13 | 2023-09-14 | 2023-10-12 | 2023-08-21 | $0.15 | Quarterly |
| 2023-06-14 | 2023-06-15 | 2023-07-13 | 2023-04-27 | $0.29 | Quarterly |
| 2023-03-15 | 2023-03-16 | 2023-04-13 | 2023-02-16 | $0.29 | Quarterly |
| 2022-12-07 | 2022-12-08 | 2023-01-12 | 2022-11-10 | $0.29 | Quarterly |
| 2022-09-14 | 2022-09-15 | 2022-10-13 | 2022-08-18 | $0.29 | Quarterly |
| 2022-06-15 | 2022-06-16 | 2022-07-14 | 2022-05-26 | $0.29 | Quarterly |
| 2022-03-16 | 2022-03-17 | 2022-04-14 | 2022-02-17 | $0.29 | Quarterly |
| 2021-12-08 | 2021-12-09 | 2022-01-13 | 2021-11-11 | $0.28 | Quarterly |
| 2021-09-15 | 2021-09-16 | 2021-10-14 | 2021-08-19 | $0.28 | Quarterly |
| 2021-06-16 | 2021-06-17 | 2021-07-08 | 2021-05-26 | $0.28 | Quarterly |
| 2021-03-17 | 2021-03-18 | 2021-04-08 | 2021-02-18 | $0.28 | Quarterly |
| 2020-12-09 | 2020-12-10 | 2021-01-07 | 2020-11-12 | $0.27 | Quarterly |
| 2020-09-09 | 2020-09-10 | 2020-10-08 | 2020-08-13 | $0.27 | Quarterly |
Coverage (payout of operating cash flow): 93.74%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $972.02M | $-277.05M | $272.82M | $545.86M | $230.77M |
| 2024 | $995.55M | $-2.41B | $453.75M | $-1.49B | $245.48M |
| 2023 | $871.80M | $-556.48M | $616.13M | $340.24M | $505.79M |
| 2022 | $1.54B | $902.60M | $345.58M | $1.67B | $739.01M |
| 2021 | $1.54B | $656.02M | $333.78M | $1.46B | $811.66M |
| 2020 | $1.25B | $431.45M | $275.95M | $1.10B | $617.64M |
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.