Why Medical Properties Trust Stock Skyrocketed 30% in September

Shares of Medical Properties Trust (NYSE: MPW) leaped 30% in September, according to data provided by S&P Global Market Intelligence. The catalyst was a deal to take control of its real estate from its troubled leading tenant, Steward Health Care. The arrangement enabled the real estate investment trust (REIT) to lease several of those properties to new tenants.Medical Properties Trust reached a global settlement agreement with bankrupt tenant Steward last month. The deal enabled the healthcare REIT to take control of 23 hospitals previously operated by Steward, severing its relationship with the company. The agreement allowed Medical Properties Trust to immediately transition the operations of 15 of those properties to four new tenants.The REIT won't collect any rent on those facilities this year, giving the new tenants time to ramp up their operations. Rents will commence in the first quarter of next year, reach 50% of the contract rate by year-end, and continue gradually escalating until the fourth quarter of 2026 when they'll fully stabilize.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool