Why Medical Properties Trust Stock Tumbled 16.9% During the First Half of 2023
Shares of Medical Properties Trust (NYSE: MPW) tumbled 16.9% during the first half of 2023, according to data provided by S&P Global Market Intelligence. This real estate investment trust (REIT) significantly underperformed the S 500, which rallied 15.9% during the period. The decline pushed the REIT's dividend yield up near 12%.
The healthcare REIT has been under a lot of pressure over the past year and a half. It has faced multiple headwinds, including rising interest rates, tenant issues, and questions about its financial practices.
Several of Medical Properties Trust's tenants are facing financial troubles following the pandemic. The REIT has been supporting them through this rough patch. For example, to help Pipeline Health successfully emerge from bankruptcy in January, Medical Properties Trust agreed to defer $5.6 million of this year's rent (about 30% of the total) into 2024.
Source Fool.com
