# Medical Properties Trust, Inc. (MPT)

> Source: Nexqual · https://nexqual.com/MPT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Medical Properties Trust, Inc. (MPT), nexqual.com/MPT" · informational, not investment advice.

**Price:** USD 2.71 (+3.04% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 2.63 · day 2.61–2.73 · 52w 2.61–6.47 · market cap $1.62B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.02B, net income -$30.2M (-3.0% margin) (SEC filings).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $10K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.75 on a 1–5 scale) (8 analysts), mean target USD 5.13 (range 4.25–7).
- Total return with dividends: 1Y -42.1% vs S&P 500 +14.9%; 5Y -79.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0, revenue estimate $263M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.54B | $1.54B | $872M | $996M | $972M | $1.02B |
| Gross profit | $1.44B | $1.38B | $762M | $921M | $882M | — |
| Net income | $656M | $903M | -$556M | -$2.41B | -$277M | -$30.2M |
| EPS (diluted) | $1.11 | $1.50 | -$0.93 | -$4.02 | -$0.46 | — |
| Gross margin | 93.4% | 89.1% | 87.4% | 92.6% | 90.7% | — |
| Net margin | 42.5% | 58.5% | -63.8% | -242.1% | -28.5% | -3.0% |
| Revenue growth | +23.6% | -0.1% | -43.5% | +14.2% | -2.4% | — |
| Cash + short-term investments | $459M | $236M | $250M | $332M | $541M | — |
| Total debt | $11.3B | $10.3B | $10.1B | $8.85B | $9.70B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.6x · EV/Sales 10.7x · P/B 0.4x · Earnings yield -1.87% · Net debt $9.31B · EV $10.9B

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $10K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-20 | Hanna James Kevin | Senior VP, Controller & CAO | 2,300 | $10K | 4.15 | Too little history (no open-market trades in 2023) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.75 on a 1–5 scale), 8 analysts; mean target USD 5.13 (low 4.25, high 7).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-01 | Wells Fargo | Target lowered | Underweight | $5 → $3.8 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -42.1% | -79.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -42.2% | -27.3% |
| Volatility (annualized) | 37.7% | 50.8% |
| Max drawdown | -53.6% (Feb 2026→Oct 2026) | -84.5% (Jan 2022→Jan 2024) |

## Peers (REIT - Healthcare Facilities)
DHC (Diversified Healthcare Trust) USD 7.87 +2.34% · LTC (LTC Properties, Inc.) USD 43.33 +2.70% · NHI (National Health Investors, Inc.) USD 66.96 +3.14% · UHT (Universal Health Realty Income ) USD 37.81 +2.41% · SBRA (Sabra Health Care REIT, Inc.) USD 19.6 +3.70% · XRN (Chiron Real Estate Inc.) USD 30.16 +4.61%

## More
Full page: https://nexqual.com/MPT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in MPT's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1287865/000119312526073587/mpt-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Prospect Medical Holdings | "Over the next twelve months, we expect our monthly rent and interest receipts to increase with our contractually required annual escalations, from the ramp up of cash rents from certain of the tenants that last year repl…" |
| Partner | Steward Healthcare | "In 2024, we recognized $1.8 billion of real estate and other impairment charges and negative fair value adjustments, primarily associated with our investments in Steward, Prospect, and the international joint venture." |
| Partner | NOR Healthcare Systems | "the ability of our tenants, operators, and borrowers (including those of our joint ventures) to satisfy their obligations under their respective contractual arrangements with us, including tenants (like Healthcare System…" |
| Partner | Lifepoint Health | "During 2025, we completed construction, and began recording rental income, on three projects totaling approximately $46.5 million, two of which are leased to Lifepoint Behavioral and the other to Surgery Partners." |

## Company outlook (8-K filed 2026-08-10)

- "During the quarter, the Company advanced an additional $50 million for working capital purposes to HSA, of which $20 million has been repaid and an additional $20 million is expected to be repaid in August."
- "FFO, reflecting the assumption that real estate asset values rise or fall with market conditions, principally adjusts for the effects of GAAP depreciation and amortization of real estate assets, which assumes that the value of real estate diminishes predictably over time."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.00 | $0.04 | -100.0% | $262.5M | 1 |
| Next quarter (ends 2026-12-31) | $0.00 | $0.04 | -100.0% | $264.0M | 1 |
| Current fiscal year (ends 2026-12-31) | $0.10 | $0.13 | -16.7% | $1.04B | 2 |
| Next fiscal year (ends 2027-12-31) | $0.05 | $0.15 | -65.9% | $1.08B | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-10-30 (includes earnings 2026-10-29): ±15.4%; last 8 reports averaged ±8.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 123.4% | ±15.4% |
| 2026-11-06 | 14 | 107.2% | ±17.8% |
| 2026-11-13 | 21 | 90.5% | ±18.2% |
| 2026-11-20 | 28 | 85.3% | ±19.5% |
| 2026-11-27 | 35 | 75.9% | ±19.3% |
| 2026-12-18 | 56 | 64.3% | ±21.2% |
| 2027-01-15 | 84 | 68.5% | ±25.8% |
| 2027-03-19 | 147 | 59.9% | ±29.7% |