Medical Properties Trust Q1 revenue beats on rent ramp-up

Overview

• U.S. hospital REIT's Q1 revenue beat analyst expectations

• Normalized FFO per share was flat yr/yr at $0.14

• Company sold two facilities and acquired one in Europe, as previously disclosed

Outlook

• Company expects to begin collecting cash rent from NOR in California in Q2 2026

• Medical Properties Trust anticipates annualized cash rent of at least $1 bln by year-end

Result Drivers

• RENT RAMP-UP - Co said rent payments at recently transitioned hospitals in Florida, Louisiana and Texas continued to increase, supporting results

• HSA RENT INCREASE - HSA's contractual rent rose to 75% of fully stabilized rent as of March 2026

• PORTFOLIO STABILITY - Co said strong EBITDARM coverage at general acute care properties and increased EBITDARM in post-acute portfolio supported results

Company press release: ID:nBw2qMdR8a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy."

• Wall Street's median 12-month price target for Medical Properties Trust Inc is $5.00, about 2.5% below its April 29 closing price of $5.13

• The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 40 three months ago

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