Medical Properties Trust, Inc. Publishes Inaugural Corporate Responsibility Report
April 28 2022 - 7:09PM
Business Wire
Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE:
MPW) today announced that it has published its inaugural Corporate
Responsibility Report. The report, which is located on the
Company’s website www.medicalpropertiestrust.com, is designed to
further acquaint MPT’s stakeholders with the various initiatives
the Company has adopted with respect to environmental, social and
governance matters. The report provides insight into MPT’s business
model and the underlying philosophy that guides our corporate
behavior in terms of how we view our responsibility to the
environment, our employees, communities, tenants and
shareholders.
“We are the second largest non-governmental owner of hospitals
in the world with 53 tenants now operating approximately 440
MPT-owned hospitals in 10 different countries,” said Edward K.
Aldag, Jr., MPT’s Chairman, President, and Chief Executive Officer.
“We are excited to tell our story in our inaugural Corporate
Responsibility Report about the environmental initiatives we are
working on and the actions we are taking to recruit and retain
outstanding employees. MPT was named one of the Best Places to Work
in Healthcare in 2021 by Modern Healthcare, a highly respected
healthcare publication, and we are very grateful for our
highly-motivated employees. We also take great pleasure in
describing in our report the various ways we give back to the
communities we live in and serve,” added Aldag.
Separately, the Company is clarifying its reconciliation to
include gains on sale of real estate of $0.75 per share. The
updated reconciliation table from net income to normalized funds
from operations per share is below.
MEDICAL PROPERTIES TRUST, INC.
AND SUBSIDIARIES
2022 Guidance Reconciliation
(Unaudited)
2022 Guidance - Per Share(1) Low High Net income
attributable to MPT common stockholders
$
1.85
$
1.89
Participating securities' share in earnings
-
-
Net income, less participating securities' share in earnings
$
1.85
$
1.89
Depreciation and amortization
0.68
0.68
Gain on sale of real estate and other, net
(0.75
)
(0.75
)
Funds from operations
$
1.78
$
1.82
Other adjustments
-
-
Normalized funds from operations
$
1.78
$
1.82
(1) The guidance is based on current expectations
and actual results or future events may differ materially from
those expressed in this table, which is a forward-looking statement
within the meaning of the federal securities laws. Please refer to
the forward-looking statement included in this press release and
our filings with the Securities and Exchange Commission for a
discussion of risk factors that affect our performance.
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, future expansion and development
activities, and expected financial performance. 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 economic,
political and social impact of, and uncertainty relating to, the
COVID-19 pandemic, including governmental assistance to hospitals
and healthcare providers, including certain of our tenants; (ii)
the ability of our tenants, operators and borrowers to satisfy
their obligations under their respective contractual arrangements
with us, especially as a result of the adverse economic impact of
the COVID-19 pandemic, and government regulation of hospitals and
healthcare providers in connection with same (as further detailed
in our Current Report on Form 8-K filed with the SEC on April 8,
2020); (iii) our expectations regarding annual guidance for net
income and NFFO per share; (iv) our success in implementing our
business strategy and our ability to identify, underwrite, finance,
consummate and integrate acquisitions and investments; (v) the
nature and extent of our current and future competition; (vi)
macroeconomic conditions, such as a disruption of or lack of access
to the capital markets, rising inflation or movements in currency
exchange rates; (vii) our ability to obtain debt financing on
attractive terms or at all, which may adversely impact our ability
to pursue acquisition and development opportunities and pay down,
refinance, restructure or extend our indebtedness as it becomes
due; (viii) increases in our borrowing costs as a result of changes
in interest rates and other factors, including the potential
phasing out of LIBOR; (ix) international, national and local
economic, real estate and other market conditions, which may
negatively impact, among other things, the financial condition of
our tenants, lenders and institutions that hold our cash balances,
and may expose us to increased risks of default by these parties;
(x) factors affecting the real estate industry generally or the
healthcare real estate industry in particular; (xi) our ability to
maintain our status as a REIT for federal and state income tax
purposes; (xii) federal and state healthcare and other regulatory
requirements, as well as those in the foreign jurisdictions where
we own properties; (xiii) the value of our real estate assets,
which may limit our ability to dispose of assets at attractive
prices or obtain or maintain equity or debt financing secured by
our properties or on an unsecured basis; (xiv) the ability of our
tenants and operators to comply with applicable laws, rules and
regulations in the operation of the our properties, to deliver
high-quality services, to attract and retain qualified personnel
and to attract patients; (xv) potential environmental contingencies
and other liabilities; (xvi) the risk that property sales, loan
repayments, and other capital recycling transactions do not occur;
(xvii) the accuracy of our methodologies and estimates regarding
environmental, social and governance ("ESG") metrics, goals and
targets, tenant willingness and ability to collaborate towards
reporting ESG metrics and meeting ESG goals and targets, and the
impact of governmental regulation on our ESG efforts; and (xviii)
the risk that the sale by Steward of its Utah operations to HCA
does not occur.
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 Annual Report on Form 10-K for the
year ended December 31, 2021 and as updated in our quarterly
reports on Form 10-Q. 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 to not 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220428006340/en/
Drew Babin, CFA, CMA Senior Managing Director of Corporate
Communications Medical Properties Trust, Inc. (646) 884-9809
dbabin@medicalpropertiestrust.com
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