Medical Properties Trust rises after settlement with Steward Health

Medical Properties Trust

12/09/2024 11:50

** Shares of healthcare REIT Medical Properties Trust
 MPW.N  rise 3.7% to $5 premarket
    ** Co takes control of its real estate from hospital
operator Steward Health Care through a settlement agreement
    ** Steward filed for bankruptcy protection in May, but the
sale of some properties had been delayed by a dispute between
Steward and its landlords, MPW and Macquarie Asset Management
    ** MPW expects to receive aggregate annualized cash rental
payments of ~$160 mln on portfolio's ~$2 bln lease base upon
stabilization in Q4 2026
    ** Cash rent payments expected to commence in the Q1 2025,
MPW says
    ** Stock down 1.8% YTD, as of last close

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))