Why Medical Properties Trust Stock Is Climbing Higher Today

Medical Properties Trust, Inc. MPW shares are trading higher after the company announced an agreement to sell its Healthscope Portfolio.

What Happened: On Wednesday, Medical Properties Trust announced a definitive agreement to sell its Australian real estate investments operated by Healthscope. The properties would be sold to affiliates of HMC Capital, an Australia-based alternative asset manager focused on real estate strategies.

MPT expects the transaction to be completed during the second half of 2023, pending regulatory approval. Total cash proceeds from the deal would equal AUD$1.2 billion ($818 million), enough to fully prepay the term loan used to fund the 2019 acquisition of 11 hospitals leased to Healthscope.

"The sale of this portfolio demonstrates the breadth and resilience of demand for hospital infrastructure assets," said Edward K. Aldag, Jr., Chairman, President and Chief Executive Officer.

Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. From its inception in Birmingham, Alabama, the Company has grown to become one of the world's largest owners of hospital real estate with 444 facilities and approximately 44,000 licensed beds in ten countries and across four continents.

According to data from Benzinga Pro, Medical Properties Trust shares were up 5.14%, trading at $8.09 at the time of publication. The stock has a 52-week high of $21.63 and a 52-week low of $7.10.