Medical Properties Trust Q1 Normalized FFO Rises

(RTTNews) - Medical Properties Trust Inc. (MPW) reported that its normalized FFO for the first quarter increased 27% to $105.9 million compared with $83.5 million in the first quarter of 2016. Per share Normalized FFO decreased 6% to $0.33 per diluted share in the first quarter compared with $0.35 per share in the first quarter of 2016 due to the Company's successful deleveraging in 2016 that represented almost $800 million in asset sales and a well-received upsized equity offering of 57.5 million shares of common stock in September 2016, in conjunction with the acquisition of nine Steward hospitals.

Net income attributable to MPT common stockholders for the first quarter of 2017 was $68.0 million or $0.21 per diluted share, compared to $57.9 million or $0.24 per share in the first quarter of 2016. Certain items in the first quarter included $13.6 million in charges related to debt refinancing activities; a $7.4 million gain on the sale of a hospital, and $3.7 million of acquisitions and other transaction costs.

First quarter 2017 total revenues increased 16% to $156.4 million compared with $135.0 million for the first quarter of 2016.