Medical Properties Trust, Inc. (NYSE: MPT), one of the world’s largest owners of hospital real estate, reported a return to profitability for the fourth quarter of 2025, driven by the nearly complete resolution of its exposure to the bankruptcy of a major tenant.
The Birmingham-based real estate investment trust (REIT) posted net income of $17 million, or $0.03 per diluted share, for the quarter ended Dec. 31, 2025. This marks a significant recovery from a net loss of $413 million, or $0.69 per share, in the same period a year earlier. For the full year 2025, the company reported a net loss of $277 million, or $0.46 per share.
Prospect Bankruptcy Resolution: MPT announced it has “almost entirely resolved” its exposure to Prospect Medical Holdings’ court restructuring process. The company entered into a new 15-year lease for six California hospitals previously operated by Prospect, which is expected to generate $45 million in annual cash rent by December 2026.
Vibra Healthcare Restructuring: The company completed a restructuring with Vibra Healthcare, resulting in a new 20-year master lease and a one-time $18 million rent payment for past obligations recognized in Q4.
Normalized FFO: Normalized Funds from Operations (NFFO) for the quarter was $107 million, or $0.18 per share, consistent with the fourth quarter of 2024.
Portfolio Strength: Total assets stood at approximately $15 billion as of year-end, encompassing 384 properties across nine countries.
Medical Properties Trust maintained a robust liquidity position with roughly $14.9 million in cash and cash equivalents at year-end. The company repurchased approximately 4.5 million shares for $23.4 million during the quarter and declared a quarterly dividend of $0.09 per share in February 2026.
Medical Properties Trust’ recently transitioned portfolio continuing to ramp cash rents as expected and Prospect’s bankruptcy process largely behind us. MPT is squarely focused on continuing to strengthen its balance sheet. The company is targeting pro forma annualized cash rent of at least $1 billion by the end of 2026.
The post Medical Properties Trust Returns to Profitability in Q4, Resolves Majority of Prospect Restructuring first appeared on AlphaStreet News.
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