Medical Properties Trust Takes Another Big Step to Improve Its Financial Health
Medical Properties Trust (NYSE: MPW) stock has been under tremendous pressure over the past year. Several headwinds have weighed on shares, including higher interest rates and financially challenged tenants. These issues have put pressure on its financial profile.
The company has been working to improve its financial health by selling hospitals to bolster its financial flexibility. It recently took another big step toward alleviating some of its financial pressure by agreeing to sell its Australian hospitals. Here's a closer look at that deal and what it might mean for the real estate investment trust's (REIT)'s 14.5%-yielding dividend.
After months of speculation, Medical Properties Trust revealed that it has agreed to unload its Australian real estate investments. It's selling the 11 hospital properties leased to Healthscope to affiliates of HMC Capital, including HeathCo Healthcare & Wellness REIT. It will receive about 1.2 billion Australian dollars ($800 million) in cash from the sale, which it expects will close in the second half of this year.
Source Fool.com
