Shares of Medical Properties Trust (NYSE: MPW) rallied 35.8% in February, according to data provided by S&P Global Market Intelligence. The hospital-focused real estate investment trust (REIT) rebounded after crashing in January. The main driver was reporting progress on its asset sale plan last month.

Medical Properties Trust stumbled into 2024. The healthcare REIT disclosed in early January that its top tenant, Steward Health Care, wasn't able to resume making full rental payments due to liquidity issues. That caused concerns that the REIT might need to cut its dividend again.

The company had much more positive news to report in February when it released its fourth-quarter and full-year results for 2023. The highlight was that it accelerated its divestiture strategy, which will boost its liquidity by $480 million. Medical Properties Trust sold five hospitals back to Prime Healthcare for $350 million. It also sold its remaining non-operated interest in a tenant and two under-leased hospitals for another $17 million. On top of that, it sold its syndicated term loan investment in Median for $115 million. These sales are part of a plan to generate at least $2 billion of incremental liquidity this year to address upcoming debt maturities.

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Source Fool.com