Medical Properties Trust, Inc. (MPT) Stock

Medical Properties Trust, Inc. (MPT) is a Real Estate stock trading at $4.12 (as of 2026-08-21), with a market capitalization of $2.46B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Medical Properties Trust, Inc. is a self-advised real estate investment trust. It engages in the investment, acquisition, and development of net-leased healthcare facilities. Its property portfolio includes rehabilitation hospitals, long-term acute care hospitals, ambulatory surgery centers, hospitals for women and children, regional and community hospitals, medical office buildings, and other single-discipline facilities. The company was founded by Edward K. Aldag Jr., R. Steven Hamner, Emmett E. McLean, and William Gilliard McKenzie in 2003 and is headquartered in Birmingham, AL.

Understand Medical Properties Trust, Inc.: how it makes money

Medical Properties Trust owns and invests in net-leased healthcare facilities, and it makes money primarily through collecting rent (and in some cases related interest) from healthcare operators under leasing arrangements.

Profitability is driven by how consistently the company collects contracted healthcare rents and how lease terms, including the inflation-based rent escalator and cash collections performance under health services agreements, translate into rent revenue.

Revenue by segment (latest quarter)
GenAcute	$0.2B
BehavHlth	$0.1B
InptRehab	$0.0B
LTACH	$0.0B
ER_Urg	$0.0B

Business quality (Weak): The model is straightforward to describe, but near-term results can hinge on tenant cash collections and the pace of rent ramping under health services agreements, which makes operating metrics important.

Bull case

Strong collection and rent expectations for new tenants: Scheduled Rents Collected (New Tenants) is 96.0 percent, and Scheduled Cash Collections Percentage (New Tenants) is 96.0 percent.
Contract terms that can support revenue growth: The Weighted Average Inflation-Based Rent Escalator for Stabilized Tenants is 2.3 percent.
Tenant management activity: Re-tenanting of Steward Hospitals is 17.0 (count), with 53.0 operators (count) across the portfolio.

Bear case

Cash collections under health services agreements are not complete: Health Services Agreement Cash Collections Percentage is 82.0 percent, indicating some variability in cash collection performance tied to the agreement structure.
Profitability appears modest relative to the business scale: Operating margin is 0.1 percent (period 2026-03-31), so operating leverage may be limited if collections or costs change.
Rent ramp timing can affect collections: Health Services Agreement Rent Ramp Percentage and Monthly Rent as a Percentage of Fully Stabilized Rent (Health Services Agreement) are both 75.0 percent, which can imply partial stabilization during periods.

Valuation — source: SEC EDGAR (first-party)
Price	$4.12
Market Cap	$2.46B
EV / EBITDA	1250.9
Price / Book	0.54
Price / Sales	2.58
DCF Value (model)	$7.71
DCF Upside vs Price	87.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$972.02M
Net Margin	-28.5%
Revenue Growth (YoY)	-2.4%
EPS Growth (YoY)	-88.6%

Valuation vs Sector & Industry
Sector P/E (Real Estate)	27.2
Industry P/E (Trading)	35.3

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($348.63M)
Institutional Holders Tracked	10

Company
Sector	Real Estate
Industry	Trading
CEO	Edward K. Aldag Jr.
Employees	118
Country	US
IPO Date	2007-12-28

Related Companies (Business model: Equity REIT (Real Estate Investment Trust); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.