Birmingham, AL Hopper Rosa Handley, Senior Vice President of Operations at Trust Company for Medical Properties . (NYSE:), recently sold 3,000 shares of the company's common stock. The transaction, which occurred on December 23, 2024, was executed at a price of $3.67 per share, for a total value of $11,010. The sale occurred as MPW shares, currently trading at $3.76, show signs of being undervalued according to InvestingPro Analysis, with the stock oversold and offering a dividend yield of 8.5%.
Following this sale, Handley retains ownership of 356,600 shares in the real estate investment trust, representing a stake in the company with a market capitalization of $2.26 billion. The deal was disclosed in a filing with the Securities and Exchange Commission, signed by W. Zachary Riddell under Power of Attorney on December 26, 2024. InvestingPro identifies several additional key metrics and insights for MPW, available in Pro Research's comprehensive report covering 1,400 reports. + US stocks.
In other recent news, Medical Properties Trust reported important developments, starting with its financial performance. The company reported a GAAP net loss of $1.34 per share in the third quarter of 2024, and its normalized funds from operations were $0.16 per share. The company also highlighted asset sales totaling approximately US$2.9 billion year-to-date, with the aim of enhancing liquidity and financial flexibility.
Medical Properties Trust has entered into a definitive agreement with Astrana Health for a transaction valued at approximately $745 million, which includes the sale of the majority of Prospect's managed care platform. The company expects to achieve net cash proceeds of approximately $200 million after settling debt and other obligations, with the majority of cash proceeds expected in the first half of 2025.
Truist Securities revised its price target on Medical Properties Trust shares to $4.00, a decrease from the previous target of $6.00. The company decided to maintain a hold rating on the stock, following observations of disappointing capital allocation and risk management practices at the company.
Additionally, Medical Properties Trust announced a settlement agreement with Viceroy Research, concluding a defamation lawsuit. The details of the agreement are still not announced. The company also faces a significant amount of outstanding debt, with $4.4 billion of unsecured bonds at 3.7% due between 2025-2027, and an additional $3.5 billion at 3.8% due between 2028-2031. These recent developments are crucial for investors to take into account as they evaluate the company's future prospects.
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