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Net-lease REIT that owns hospital buildings and leases them back to hospital operators nationwide and abroad.
Net-lease REIT that owns hospital buildings and leases them back to hospital operators nationwide and abroad.
Collects rent under long-term leases in which the hospital operator pays property costs, so income is only as reliable as the operators' ability to pay. A small number of operators have supplied a large share of rent, and the 2024 bankruptcy of Steward Health Care, a major tenant, forced it to re-lease or sell hospitals.
Moat: none (switching costs). Tenant financial health drives rent collection; recent operator bankruptcies (Steward) exposed the model's fragility.
Headquarters: Birmingham, Alabama, US · Founded: 2003 · Employees: 121
Size Medical Properties Trust (MPT) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $1.08B, the 2198th largest of 3,117 United States companies the cockpit tracks. Shares closed at $1.81 on 6 Nov 2026.
Performance Over six months the shares fell 65.0%, against -13.3% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 10.5% over the last twelve months (peer median +1.2%); the operating margin is 58.3% (peer median 43.8%).
Valuation It trades at 0.23× book value against a peer median of 0.80× (cheapest of 21).
Price implies The share price implies a return on equity of about 5.2%; Medical Properties Trust delivers 5.3%, so the price asks less than the business earns today.
Short interest Short interest is 25.0% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.03B | $972M | $996M | $872M | $1.54B |
| Revenue growth | — | -2% | +14% | -43% | — |
| Gross profit | $713M | $670M | $521M | $227M | $1.16B |
| EBITDA | $878M | $658M | $285M | $685M | $1.34B |
| Net income | $248M | -$278M | -$2.41B | -$558M | $901M |
| Free cash flow | n/a | $231M | $245M | $506M | $739M |
| Capital expenditure | n/a | $216M | $262M | $529M | $1.54B |
| Total debt | $9.26B | $9.77B | $8.93B | $10.2B | $10.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Medical Properties Trust MPT | $1.08B | -65% | +11% | 5% | 0.23× | 5.2% |
| Ventas VTR | $47.9B | +2% | +22% | 2% | 2.97× | 20.2% |
| Healthpeak Properties DOC | $14.3B | +4% | +9% | 5% | 1.78× | 15.1% |
| Omega Healthcare Investors OHI | $14.6B | +2% | +14% | 14% | 2.66× | 15.3% |
| Welltower WELL | $180B | +15% | +39% | 4% | 3.69× | 24.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MPT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -43.3% | -0.6% | lowest of 21 |
| 6-month return | -65.0% | -13.3% | lowest of 21 |
| Return on equity | 5.3% | 6.3% | 7th lowest of 20 |
| Price / book | 0.23× | 0.80× | cheapest of 21 |
| Trailing P/E | 4.4× | 13.4× | 2nd cheapest of 17 |
| ROE the price implies | 5.2% | 5.7% | 8th least demanding of 21 |
| ROE delivered | 5.3% | 6.3% | 7th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Medical Properties Trust MPT | United States | $1.08B | -65% | +11% | 5% | 0.23× | 5.2% | 5.3% |
| Growthpoint Properties Australia GOZ.AX | Australia | $1.09B | -2% | 0% | 4% | 0.69× | 8.7% | 3.9% |
| Easterly Government Properties DEA | United States | $1.06B | -4% | +11% | 1% | 0.82× | 8.6% | 1.0% |
| NTT UD REIT Investment 8956.T | Japan | $1.06B | -16% | +14% | 6% | 1.15× | 4.8% | 6.1% |
| TOKYU REIT 8957.T | Japan | $1.10B | -6% | +10% | 9% | 1.37× | 5.2% | 8.6% |
| Altareit AREIT.PA | France | $1.06B | -9% | -20% | -5% | 1.38× | 7.7% | -5.4% |
| Heiwa Real Estate REIT 8966.T | Japan | $1.06B | -15% | +24% | 8% | 1.15× | 5.5% | 8.4% |
| Waypoint REIT WPR.AX | Australia | $1.05B | -2% | -1% | 7% | 0.80× | 8.8% | 6.8% |
| Storage King SKG.AX | Australia | $1.05B | -17% | 0% | 7% | 0.64× | 7.8% | 6.5% |
| National Healthcare Properties NHP | United States | $1.11B | +8% | -1% | -5% | 1.05× | 16.3% | -5.3% |
| SK REIT 395400.KS | South Korea | $1.04B | -30% | +15% | 6% | 0.73× | 4.8% | 5.7% |
| Ladder Capital LADR | United States | $1.12B | -13% | +2% | 7% | 0.77× | 8.3% | 6.7% |
| Japan Excellent 8987.T | Japan | $1.04B | -13% | -18% | 6% | 1.09× | 4.6% | 6.0% |
| CapitaLand India Trust CY6U.SI | Singapore | $1.03B | -15% | -2% | 16% | 0.71× | 5.0% | 15.7% |
| Cpi Fim OPG.WA | Poland | $1.00B | -16% | -35% | 11% | 0.58× | 5.9% | 11.1% |
| Fortune Real Estate Investment Trust 0778.HK | Hong Kong | $1.19B | -11% | -9% | 0% | 0.37× | 4.5% | -0.3% |
| Ho Bee Land H13.SI | Singapore | $978M | -13% | +5% | 3% | 0.33× | 2.6% | 2.7% |
| Centerspace CSR | United States | $963M | -15% | +15% | 12% | 1.21× | 10.3% | 11.7% |
| Wereldhave WHA.AS | Netherlands | $956M | -15% | +10% | 6% | 0.79× | 6.0% | 6.3% |
| Ntt Dc REIT NTDU.SI | Singapore | $955M | -9% | -8% | n/a | 0.80× | 3.1% | n/a |
| Daiwa Securities Living Investment 8986.T | Japan | $1.22B | -25% | +42% | 7% | 1.02× | 5.4% | 7.1% |