Why Medical Properties Trust Stock Got Socked Today
While large-scale insider sales don't necessarily mean a publicly traded company's management is abandoning ship, they generally don't inspire investor confidence. News of such a divestment hit Medical Properties Trust (NYSE: MPW) on Thursday, and the resulting sell-off saw the shares lose slightly more than 4% of their value.
A regulatory document filed after market close on Wednesday revealed that Medical Properties Trust director Michael Stewart sold 32,780 shares of its common stock. The price was $5.46 per share, and the sale left Stewart with 221,245 shares remaining in his portfolio.
That isn't a massive chunk of the company's more than 600 million shares currently outstanding, but for any individual it's a meaningful stake. That goes double for Stewart, as he's a director at the specialty real estate investment trust (REIT).
Source Fool.com
