Medical Properties Trust gets NYSE notice over delayed quarterly report filing
Medical Properties Trust received a New York Stock Exchange notice on May 16, 2024, because it has not yet filed its Form 10-Q for the period ended March 31, 2024. The company attributes the delay to added impairment reviews after tenant Steward Health Care System filed for voluntary bankruptcy, and says the notice has no immediate effect on its listing. Shareholders face the risk that the NYSE could start delisting procedures if the filing is not completed within the allowed period.
- The quarterly report was not filed by its prescribed due date, after Steward Health Care System's voluntary bankruptcy petition, filed four days before that date, required additional impairment procedures.
- The NYSE notice, received May 16, 2024, cites non-compliance with Section 802.01E, which requires timely filing of periodic reports.
- The company has six months from May 15, 2024 to regain compliance, with a possible additional six-month extension at the NYSE's discretion.
- PricewaterhouseCoopers LLP needs more time to complete its interim review, and the NYSE may begin delisting procedures earlier if it deems circumstances warrant.