Why Medical Properties Trust Stock Crushed the Market Today
For numerous valid reasons, Medical Properties Trust (NYSE: MPW) has generally been an unpopular stock this year. You wouldn't know that from the real estate investment trust's (REIT) performance on Thursday, though, as its price rose by more than 5% on news of a big divestment. That performance easily topped that of the S 500, which increased by 1.6% on the day.
Just after market hours on Wednesday, Medical Properties Trust announced that it had finalized the sale of 11 of its properties. These are located in Colorado and have been purchased by University of Colorado Health for $86 million.
For its money, University of Colorado Health is receiving 11 freestanding-healthcare properties in the western state. These include primary and urgent care facilities, among other structures. The properties' development was funded by Medical Properties Trust between 2015 and 2017 for Adeptus Health. Following that company's Chapter 11 bankruptcy filing, University of Colorado Health began leasing the facilities.
Source Fool.com
