After Crashing 80%, This Ultra-High-Yield Dividend Stock Is Finally Starting to Get Healthier
Medical Properties Trust (NYSE: MPW) has taken a beating over the past several quarters. Shares of the healthcare real estate investment trust (REIT) currently sit about 80% below their all-time high from early last year. Several factors have weighed on its stock price, including tenant issues and higher interest rates.
These headwinds caused a significant deterioration in the healthcare REIT's financial metrics. That forced the REIT to make several moves geared toward improving those numbers. They are finally paying off. While the company still has more work to do, its metrics are heading in the right direction.
Medical Properties Trust has faced two notable challenges. Several of its tenants have struggled financially in the aftermath of the pandemic. Surging costs and other issues weighed on their earnings. That impacted the ability of one key tenant to pay rent (Prospect Medical), while causing serious concerns about another leading tenant's ability to meet its financial obligations (Steward Health Care).
Source Fool.com
