This Ultra-High-Yielding Dividend Stock's Troubles Continue
Medical Properties Trust (NYSE: MPW) can't seem to catch a break. The real estate investment trust (REIT) focused on hospitals has battled a barrage of headwinds over the past couple of years, with rising interest rates and tenant issues weighing on its balance sheet and cash flow. The company has worked hard to address those issues, including selling assets to shore up its financial foundation and assisting tenants while they work to improve their finances.
Unfortunately, the steps the healthcare REIT has taken to help top tenant Steward Health Care aren't working as well as hoped. As a result, Steward hasn't been paying all the rent it owes the REIT. That's leading Medical Properties Trust to take more actions to help its tenants while also aiming to reduce its exposure to that company in the future.
Medical Properties Trust spent much of last year working with Prospect Medical Holdings to help that tenant through a rough patch so it could resume paying rent. In September, Prospect finally started making partial rental payments on hospitals in California that it leases from the REIT. It's on track to resume full rental payments on those facilities in March.
Source Fool.com
