)
Medical Properties Trust (MPW) investor relations material
Medical Properties Trust Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net loss for Q2 2025 was $98.4 million ($0.16 per share), a significant improvement from a $320.6 million loss ($0.54 per share) in Q2 2024, mainly due to lower impairment charges and fair value adjustments compared to the prior year.
Normalized FFO for Q2 2025 was $81.4 million ($0.14 per diluted share), down year-over-year due to lower revenues from asset sales and higher interest expense from refinancing.
Portfolio at June 30, 2025, consisted of 392 properties and 39,000 licensed beds across nine countries, with total assets of $15.2 billion.
Focuses on net-leased hospital facilities, enabling operators to unlock real estate value for operational investments.
Second quarter saw strong operational and financial performance, with new tenants ramping up rent payments and stabilized assets contributing steady cash flow.
Financial highlights
Q2 2025 total revenues were $240.4 million, down from $266.6 million in Q2 2024, mainly from lost rent due to property sales and the absence of Steward and Prospect rent.
Net loss attributable to common stockholders was $98.4 million for Q2 2025, compared to $320.6 million loss in Q2 2024.
Normalized FFO per diluted share was $0.14 for Q2 2025, compared to $0.23 in Q2 2024.
Net impairments and fair market value adjustments totaled approximately $111 million, mainly related to asset sales and bankruptcy transactions.
Cash rent from new operators increased from $3.4 million in Q1 to $11 million in Q2, expected to reach $17 million in Q3.
Outlook and guidance
Management expects annualized pro rata cash rent to exceed $1 billion by Q4 2026, with new operators expected to reach $160 million annualized rent by October 2026.
No material new real estate investments are anticipated in the near term; focus remains on liquidity, re-tenanting, and asset sales.
U.S. Medicaid funding changes (OBBBA) and ACA work requirements are expected to increase demand for innovative capital solutions.
Further increases in cash rents anticipated to positively impact bottom line as interest expense stabilizes.
Forward-looking statements highlight risks related to tenant restructurings, asset sales, leverage, and regulatory changes.
Next Medical Properties Trust earnings date
Next Medical Properties Trust earnings date
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)