James Kevin Hanna, Senior Vice President, Controller & Chief Accounting Officer at Medical Properties Trust Inc . (NYSE:), recently sold 11,641 shares of the company’s common stock. The transaction, which took place on December 26, was executed at a price of $3.72 per share, totaling $43,304. Following this sale, Hanna retains ownership of 366,913 shares in the company. According to a footnote in the filing, the sale was part of Hanna’s year-end tax planning, with an intention to potentially repurchase the shares, depending on market conditions and compliance with relevant laws and company policies. InvestingPro analysis indicates the stock is trading at a low Price/Book multiple of 0.42, with additional insights available in the comprehensive Pro Research Report covering MPW among 1,400+ US equities.
In other recent news, Medical Properties Trust has reported several significant developments. The company reported a GAAP net loss of $1.34 per share for the third quarter of 2024, while its normalized funds from operations stood at $0.16 per share. In a strategic move, Medical Properties Trust entered into a definitive agreement with Astrana Health for a deal valued at about $745 million, including the sale of the majority of Prospect’s managed care platform.
The company expects to net around $200 million in cash proceeds after settling debts and other liabilities, with the majority of the cash proceeds anticipated in the first half of 2025. Truist Securities revised its price target on shares of Medical Properties Trust to $4.00, maintaining a Hold rating on the stock, and highlighting significant maturities and a high cost of capital.
Medical Properties Trust has also settled a defamation lawsuit with Viceroy Research, though the specifics of the agreement remain undisclosed. These recent developments come amidst underwhelming capital allocation and risk management practices at the company, as well as a substantial amount of maturing debt. Investors are expected to closely monitor the progress of the recently transitioned Steward hospitals and how effectively management can recapitalize the company.
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