Every material Form 8-K Medical Properties Trust has filed with the SEC since May 09, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Medical Properties Trust reported third-quarter 2026 net income of $202 million ($0.34 per share), compared with a net loss of $78 million a year earlier, including a $158 million gain on asset sales. Normalized funds from operations (NFFO) fell to $64 million ($0.11 per share) from $77 million, which the company said was partly due to tenant HSA not paying September rent. The company says asset sales and debt refinancing generated proceeds to reduce debt.
Net income of $202 million ($0.34 per share) versus a net loss of $78 million ($0.13 per share) in the year-earlier quarter.
NFFO of $64 million ($0.11 per share) versus $77 million ($0.13 per share); the company said HSA's unpaid September rent reduced NFFO by two cents.
Asset sales produced about $680 million in cash proceeds in the quarter; a private offering of about $2.4 billion of secured notes was completed, with a $70 million gain on debt refinancing.
The company continues to expect portfolio cash rents in excess of $1.0 billion in 2027; a $0.09 quarterly dividend was paid in October 2026.
On August 10, 2026, MPT's operating partnership closed a private placement and private exchange issuing $2.4 billion of 9.25% senior secured notes due February 15, 2032. The company said proceeds will fund the full redemption of its 2026 senior notes and a partial redemption of its 2027 senior notes, and the exchange refinanced about $1.5 billion of unsecured notes maturing from 2027 to 2031.
$2.4 billion aggregate principal of 9.25% senior secured notes due February 15, 2032, issued August 10, 2026
Proceeds to fully redeem 2026 senior notes and partly redeem 2027 senior notes; private exchange refinanced about $1.5 billion of 2027–2031 unsecured notes
Interest paid semi-annually on June 15 and December 15, starting December 15, 2026; holders may require repurchase at 101% upon a change of control
Medical Properties Trust reported a smaller second-quarter 2026 net loss than a year earlier, with total revenues and normalized FFO both higher. The company also announced a $2.4 billion private placement and exchange of 9.25% senior secured notes due 2032, which it says is expected to close imminently and will repay 2026 notes and about half of its 2027 notes.
Q2 2026 net loss of $3 million ($0.01 per share), compared with a net loss of $98 million ($0.16 per share) in Q2 2025
Normalized FFO of $92 million ($0.15 per share), up from $81 million ($0.14 per share) a year earlier
Total revenues of $259.3 million for Q2 2026, compared with $240.4 million in Q2 2025
$2.4 billion of new 9.25% senior secured notes due 2032; proceeds to repay 2026 notes and about 50% of 2027 notes
Medical Properties Trust reported first-quarter 2026 net income of $33 million ($0.05 per share), compared with a net loss of $118 million a year earlier. Normalized FFO was $82 million ($0.14 per share), roughly flat with $81 million a year earlier, and total revenues rose to $252 million from $224 million. The company said its hospital tenants are ramping rent payments and that it expects annualized cash rent of at least $1 billion by year-end.
Q1 2026 net income of $33 million ($0.05 per share) versus a net loss of $118 million ($0.20 per share) in Q1 2025
Normalized FFO of $82 million ($0.14 per share), compared with $81 million ($0.14 per share) a year earlier
Total revenues of $252 million, up from $224 million; sold two facilities for about $31 million in aggregate proceeds
Paid a regular quarterly dividend of $0.09 per share in April 2026
Medical Properties Trust reported fourth-quarter 2025 net income of $17 million ($0.03 per share), compared with a net loss of $413 million a year earlier. For full-year 2025 it reported a net loss of $277 million ($0.46 per share), an improvement from a $2.4 billion loss in 2024, but normalized funds from operations (NFFO) fell to $346 million ($0.58 per share) from $483 million ($0.80 per share). The results include a one-time $18 million rent payment from Vibra Healthcare, which was recorded on a cash basis.
Q4 2025 net income was $17 million ($0.03 per share) versus a net loss of $413 million ($0.69 per share) in Q4 2024; Q4 NFFO was $107 million ($0.18 per share), essentially flat with $108 million a year earlier
Full-year 2025 NFFO was $346 million ($0.58 per share) versus $483 million ($0.80 per share) in 2024; full-year net loss narrowed to $277 million from $2.4 billion
A new lease for six California hospitals formerly operated by Prospect Medical Holdings is scheduled to ramp up to $45 million of annual rent in December 2026
The company repurchased about 4.5 million shares for $23.4 million and declared a regular quarterly dividend of $0.09 per share in February 2026
Medical Properties Trust reported a third-quarter 2025 net loss of $78 million ($0.13 per share), much narrower than the $801 million loss a year earlier, while normalized funds from operations (NFFO) fell to $77 million ($0.13 per share) from $94 million ($0.16). The board also approved a stock repurchase program of up to $150 million, which the company is under no obligation to use.
Third-quarter total revenues were $237.5 million, up from $225.8 million a year earlier.
Third-quarter NFFO was $77 million ($0.13 per share), down from $94 million ($0.16 per share) in the 2024 period.
The net loss includes about $82 million in impairment charges, primarily related to Prospect Medical Group bankruptcy transactions.
On October 28, 2025, the board approved a repurchase program for up to $150 million of common stock.
Medical Properties Trust reported a second-quarter 2025 net loss of $98 million ($0.16 per share), smaller than the $321 million ($0.54 per share) loss a year earlier. Normalized funds from operations (NFFO) fell to $81 million ($0.14 per share) from $139 million ($0.23 per share), and total revenues declined to $240.4 million from $266.6 million, so shareholders see a smaller loss alongside weaker operating measures.
Net loss of $98 million ($0.16 per share) for Q2 2025 vs. $321 million ($0.54 per share) in Q2 2024; the quarter includes about $111 million ($0.18 per share) in impairment and fair market value adjustments.
NFFO of $81 million ($0.14 per share) vs. $139 million ($0.23 per share) a year earlier; total revenues were $240.4 million vs. $266.6 million.
Cash rental income from new tenants rose to $11.0 million from $3.4 million in Q1 2025; scheduled third-quarter cash collections approximate $17 million.
A regular quarterly dividend of $0.08 per share was paid in July 2025.
Medical Properties Trust reported a first-quarter 2025 net loss of $118 million, or $0.20 per share, down from $876 million, or $1.46 per share, a year earlier. The company said the narrower loss reflects lower impairment charges, while total revenue fell to $224 million from $271 million and normalized FFO fell to $81 million, or $0.14 per share, from $142 million, or $0.24 per share.
Net loss attributable to common stockholders was $118 million ($0.20 per share), versus $876 million ($1.46 per share) in the first quarter of 2024.
Total revenues were $224 million, compared with $271 million a year earlier.
Normalized FFO was $81 million ($0.14 per share), compared with $142 million ($0.24 per share) a year earlier.
Net loss includes about $73 million ($0.12 per share) in impairments and fair value adjustments tied to Prospect Medical Group and PHP Holdings; a $0.08 per share dividend was paid in April.
Medical Properties Trust reported a fourth-quarter 2024 net loss of $413 million ($0.69 per share) and a full-year net loss of $2.4 billion ($4.02 per share), including about $415 million of impairments and fair market value adjustments tied to Prospect Medical Group and PHP Holdings. Normalized FFO fell to $0.18 per share for the quarter from $0.36 a year earlier and to $0.80 for the year from $1.59. The company said a $2.5 billion senior secured notes offering addresses all debt maturities through 2026.
Q4 2024 net loss of $413 million ($0.69 per share) versus $664 million ($1.11 per share) in Q4 2023
Q4 2024 normalized FFO of $0.18 per share versus $0.36; full-year 2024 normalized FFO of $0.80 versus $1.59
Full-year 2024 net loss of $2.4 billion ($4.02 per share) versus $556 million ($0.93 per share) in 2023
Private offering of more than $2.5 billion of senior secured notes due 2032 at a blended coupon of 7.885%
On February 13, 2025, MPT's operating partnership closed $1.5 billion of 8.500% notes due 2032 and €1.0 billion of 7.000% notes due 2032, and the company amended its revolving credit and term loan agreement. The notes are secured by first-priority liens on equity of subsidiaries owning or ground leasing 169 properties, and the amendment extends the revolving facility's maturity to June 30, 2027 while removing several financial covenants and resetting the interest rate to SOFR plus 2.25%. The filing shows new secured debt ranking alongside the credit facility, which may affect how much collateral is available to unsecured creditors and shareholders.
$1.5 billion of 8.500% Senior Secured Notes due February 15, 2032 and €1.0 billion of 7.000% Senior Secured Notes due 2032 were issued under an indenture dated February 13, 2025.
Notes are secured by first-priority liens on equity of subsidiaries that own or ground lease 169 properties with 20 operators in the United States, United Kingdom and Germany.
Amendment No. 3 extends the revolving credit facility maturity to June 30, 2027, resets interest to SOFR plus 2.25% and sets a maximum secured leverage ratio of 40%.
Before February 15, 2028, up to 40% of each note series may be redeemed at 108.500% (dollar notes) or 107.000% (euro notes) using equity offering proceeds.
Medical Properties Trust reported a third quarter 2024 net loss attributable to common stockholders of $801 million, or $1.34 per share, versus net income of $117 million, or $0.19 per share, a year earlier. The loss reflects about $608 million of impairment charges, largely tied to Steward hospitals, while normalized funds from operations (NFFO) fell to $94 million, or $0.16 per share, from $226 million, or $0.38 per share.
Q3 2024 net loss of $801 million ($1.34 per share) vs. net income of $117 million ($0.19 per share) in Q3 2023
NFFO of $94 million ($0.16 per share) vs. $226 million ($0.38 per share) a year earlier
$425 million impairment of Steward working capital loans and $134 million reduction in the fair value of the PHP Holdings investment
Sold 18 freestanding emergency department facilities and one general acute hospital in Arizona and Colorado for about $246 million
Medical Properties Trust said a global settlement with Steward Health Care, approved on an interim basis by the bankruptcy court on September 11, 2024, terminated its master lease with Steward and ends its business relationship and investments in Steward affiliates once completed. The company expects new third-quarter 2024 charges, including about $430 million of impairments and about $120 million of amortization expense, following $470 million of impairments in the first quarter and $490 million in the second quarter. The filing also says more impairments are possible, particularly on vacant properties previously leased to Steward.
Master Lease I was deemed terminated, and 15 leased hospitals moved to new interim managers effective September 11, 2024; permanent transfers are targeted by October 1, 2024.
Expected third-quarter 2024 impairment of about $430 million on working capital and secured loans, plus a Space Coast Facilities real estate charge of $100 million to $200 million.
Expected about $120 million of amortization expense in the third quarter 2024 to fully amortize the terminated lease's intangibles.
Cash rent is not due for the rest of 2024 on the 15 properties; the company agreed to loans of up to about $80 million to the new operators.
Medical Properties Trust reported a second-quarter 2024 net loss of $321 million, or $0.54 per share, compared with a net loss of $42 million, or $0.07 per share, a year earlier. Normalized FFO fell to $139 million, or $0.23 per share, from $285 million, or $0.48 per share. The company also amended its credit agreement, which cuts the revolver to $1.28 billion and limits cash dividends to $0.08 per share per quarter through September 30, 2025.
Q2 net loss of $321 million ($0.54 per share) versus $42 million ($0.07 per share) a year earlier, including about $400 million in real estate gains and about $700 million in impairments and negative fair value adjustments
Normalized FFO of $139 million ($0.23 per share) versus $285 million ($0.48 per share) in the year-earlier quarter
Credit amendment dated August 6, 2024 cuts revolving commitments from $1.4 billion to $1.28 billion and limits cash dividends to $0.08 per share per quarter through September 30, 2025
Maximum total leverage ratio raised from 60% to 65%; minimum unsecured interest coverage ratio lowered from 1.75:1.00 to 1.45:1.00; borrowing spreads rise to 300 basis points during the covenant period
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.
Medical Properties Trust recorded about $470 million of additional impairment charges in the quarter ended March 31, 2024, after Steward Health Care System filed for Chapter 11 bankruptcy on May 6, 2024. The charges fully reserve its 9.9% equity stake in Steward and a $362 million loan to Steward affiliates, and the company said it cannot yet estimate the cash costs of pursuing recovery.
About $470 million of additional impairment charges recorded in the quarter ended March 31, 2024
The charges fully reserve the 9.9% equity interest in Steward and the $362 million loan due from Steward affiliates
The company believes its $346 million of non-real estate loans to Steward are fully recoverable based on an updated collateral analysis
Steward leases 28 facilities under a master lease totaling about $2.4 billion; the company cannot estimate future recovery costs and warns of possible further impairments
Medical Properties Trust reported a first-quarter net loss of $736 million ($1.23 per share), compared with net income of $33 million a year earlier, driven by $693 million in impairments tied mainly to Steward Health Care. Normalized FFO fell to $142 million ($0.24 per share) from $222 million ($0.37), and the company approved $75 million in debtor-in-possession financing after Steward filed for Chapter 11, which matters to shareholders given the sharp drop in earnings and the impairment charges.
Net loss of $736 million ($1.23 per share) vs. net income of $33 million ($0.05 per share) a year earlier; impairments of $693 million included a full reserve on an approximately $360 million Steward loan.
Normalized FFO of $142 million ($0.24 per share) vs. $222 million ($0.37) a year earlier, primarily due to a significant decrease in Steward-related revenue.
MPT approved $75 million in debtor-in-possession financing for Steward after its Chapter 11 filing; the financing is subject to bankruptcy court approval.
Executed $1.6 billion in year-to-date liquidity transactions, 80% of the initial 2024 target, and now expects to exceed the $2.0 billion target.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Medical Properties Trust filing is on SEC EDGAR ↗. 8-K briefs of other companies →