Completed Previously Announced Transactions that Provided Approximately $680 Million in Asset Sale Proceeds and Significantly Extended Debt Maturities

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPT) today announced financial and operating results for the third quarter ended September 30, 2026, as well as certain events occurring subsequent to quarter end.

• Net income of $0.34 and Normalized Funds from Operations (“NFFO”) of $0.11 for the 2026 third quarter, all on a per share basis;
• Completed the previously announced private offering of approximately $2.4 billion of secured notes, the proceeds of which were used to repay existing debt, including the 2026 notes as well as approximately 50% of the 2027 notes, resulting in a gain of $70 million in the quarter;
• Completed the sales of certain assets which resulted in approximately $680 million in cash proceeds in the third quarter, representing an aggregate $158 million gain; and
• Paid a regular quarterly dividend of $0.09 per share in October 2026.

Edward K. Aldag, Jr., Chairman, President and Chief Executive Officer, said, “Our results this quarter demonstrate the decisive steps we have taken to strengthen our balance sheet and create greater flexibility to further reduce debt and pursue selective growth opportunities. As healthcare providers around the world seek new solutions to capital challenges, our business model is more important than ever and we are well positioned to create long-term value for our shareholders.

“We are closely monitoring operations at HSA as they navigate continued revenue cycle management challenges that precluded payment of September rent, reducing our NFFO by two cents during the quarter. HSA recently engaged a leading management services provider, Ovation Healthcare, to oversee operations across the portfolio and improve billings and collections.”

Included in the financial tables accompanying this press release is information about the Company’s assets and liabilities, operating results, and reconciliations of net income (loss) to NFFO, including per share amounts, all on a basis comparable to 2025 results.

PORTFOLIO UPDATE

MPT has total assets of approximately $14.4 billion, including $8.3 billion of general acute facilities, $2.4 billion of behavioral health facilities and $1.6 billion of post-acute facilities. As of September 30, 2026, MPT’s portfolio included 365 properties and approximately 37,000 licensed beds leased to or mortgaged by 52 hospital operating companies across the United States, as well as in the United Kingdom, Switzerland, Germany, Spain, Finland, Colombia, Italy and Portugal.

As previously disclosed, during the quarter, the Company sold its remaining interest in five hospitals in Utah for approximately $174 million. Additionally, the Company sold its interest in the real estate of two hospitals in Idaho to affiliates of Intermountain Health, an investment grade not-for-profit healthcare system, for approximately $371 million. The sales prices for each of these transactions significantly exceeded the Company’s original investments, again demonstrating the overall value of its portfolio of hospital real estate. Moreover, these and other recent transactions have provided $680 million in proceeds that are available for repayment of debt and other balance sheet improvement.

The Company continues to expect portfolio cash rents in excess of $1.0 billion in 2027, even after reduction of the rental income associated with assets sold in the third quarter. In addition, this estimate includes conservative assumptions about rental income associated with cash basis tenants, including HSA, which continues to be challenged by revenue collection and for whom the Company has recently provided additional working capital support during the quarter.

OPERATING RESULTS

Net income for the third quarter ended September 30, 2026 was $202 million ($0.34 per share), compared to a net loss of ($78 million) (($0.13) per share) in the year earlier period. NFFO for the third quarter ended September 30, 2026 was $64 million ($0.11 per share), compared to $77 million ($0.13 per share) in the year earlier period.

CONFERENCE CALL AND WEBCAST

The Company has scheduled a conference call and webcast for October 29, 2026, at 11:00 a.m. Eastern Time to present the Company’s financial and operating results for the quarter ended September 30, 2026. The dial-in numbers for the conference call are 833-461-5787 (Toll-Free) and 585-542-9983, and the Meeting ID is 336661409 to join the conference. The conference call and webcast replay will also be available via webcast in the Investor Relations section of the Company’s website, www.mpt.com. The webcast replay will be available for one year.

The Company’s supplemental information package for the current period will also be available on the Company’s website in the Investor Relations section.

The Company uses, and intends to continue to use, the Investor Relations page of its website, which can be found at www.mpt.com, as a means of disclosing material nonpublic information and complying with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations that may include material nonpublic information. Accordingly, investors should monitor the Investor Relations page, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

About Medical Properties Trust, Inc.

Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. From its inception in Birmingham, Alabama, the Company has grown to become one of the world’s largest owners of hospital real estate with 365 facilities and approximately 37,000 licensed beds in nine countries and across three continents as of September 30, 2026. MPT’s financing model facilitates acquisitions and recapitalizations, and allows operators of hospitals to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations. For more information, please visit the Company’s website at www.mpt.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “would”, “could”, “expect”, “intend”, “plan”, “estimate”, “target”, “anticipate”, “believe”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding our strategies, objectives, prospects, asset sales and the expected proceeds and gains therefrom, refinancings (including the timing of, and expected proceeds from, such refinancings), tenant arrangements (including master leases and lease restructurings, and the expected timing, anticipated rent and financial impact thereof), among others. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results or future events to differ materially from those expressed in or underlying such forward-looking statements, including, but not limited to: (i) the risk that projected rents may be lower than anticipated or realized later than expected; (ii) the risk that the timing, outcome and terms of the causes of action of Prospect Medical Holdings, Inc. (“Prospect”), which serve as collateral for debtor-in-possession and other fundings provided by MPT that remain outstanding, and of other recoveries in respect of the Company’s remaining Prospect investment, will not be consistent with those anticipated by the Company; (iii) our success in implementing our business strategy and our ability to identify, underwrite, finance, consummate and integrate acquisitions and investments; (iv) the risk that previously announced or contemplated property sales, loan repayments, and other capital recycling transactions do not occur as anticipated or at all; (v) the risk that MPT is not able to attain its leverage, liquidity and cost of capital objectives within a reasonable time period or at all; (vi) MPT’s ability to obtain or modify the terms of debt financing on attractive terms or at all, as a result of changes in interest rates and other factors, which may adversely impact our ability to pay down, refinance, restructure or extend our indebtedness, including extending our 2026 credit facility, as it becomes due, or pursue acquisition and development opportunities; (vii) the ability of our tenants, operators and borrowers to satisfy their obligations under their respective contractual arrangements with us; (viii) the ability of our tenants and operators to operate profitably and generate positive cash flow, remain solvent, comply with applicable laws, rules and regulations in the operation of our properties, to deliver high-quality services, to attract and retain qualified personnel and to attract patients; (ix) the risk that we are unable to monetize our investments in certain tenants at full value within a reasonable time period or at all; (x) the risk that the operations of our tenants will be negatively impacted by changes to Medicaid funding introduced by the OBBBA; (xi) the risks and uncertainties of litigation or other regulatory proceedings; and (xii) the impact of any governmental actions affecting our properties.

The risks described above are not exhaustive and additional factors could adversely affect our business and financial performance, including the risk factors discussed under the section captioned “Risk Factors” in our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, and as may be updated in our other filings with the SEC. Forward-looking statements are inherently uncertain and actual performance or outcomes may vary materially from any forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements as predictions of future events. We disclaim any responsibility to update such forward-looking statements, which speak only as of the date on which they were made.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261028521872/en/

Charles Lambert
Senior Vice President of Finance & Treasurer
Medical Properties Trust, Inc.
(205) 397-8897
clambert@mpt.com

Source: MPT