Medical Properties Trust Stock Plummeted Today -- Is It a Buy for 2024?
Medical Properties Trust (NYSE: MPW) stock cratered Friday. The real estate investment trust's (REIT's) unit price ended the day down 29%, according to data from S&P Global Market Intelligence.
News hit today that Medical Properties was taking steps to collect unpaid rent from its tenant Steward Health Care System. Steward is the company's largest tenant, and indications that payment issues are ongoing suggest that the REIT's business could see major destabilization.
Steward has seen its financial condition deteriorate significantly, and it reported to Medical Properties Trust that its access to funds had been "negatively impacted by significant changes to vendors' payment terms." Due to the hospital operator's worsening financial position, MPT is uncertain whether Steward will make payments on rent that's already due, make good on its roughly 22-year extended lease term, and deliver loan payments on time.
Source Fool.com
Medical Properties Trust Stock
With 4 Buy predictions and 4 Sell predictions the community is currently undecided on Medical Properties Trust.
A slightly negative potential of -8.88% at a current price of 4.39 € for Medical Properties Trust is the result of a target price of 4 €.
