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Medical Properties Trust, Inc. Reports 27% Increase In Normalized FFO Per Share During 2012

Stocks in this article: MPW

Medical Properties Trust, Inc. (the “Company”) (NYSE: MPW) today announced financial and operating results for the fourth quarter and year ended December 31, 2012.

FOURTH QUARTER AND RECENT HIGHLIGHTS

  • Achieved fourth quarter Normalized Funds from Operations (“FFO”) per diluted share of $0.25, an increase of 32% over 2011’s $0.19 per diluted share;
  • For the full-year 2012, the Company’s $0.90 Normalized FFO per share represented a 27% increase over the $0.71 per share in 2011;
  • Exceeded $800 million in investments and commitments during 2012, including more than $168 million in the fourth quarter of 2012;
  • Sold two properties in the fourth quarter, realizing gains of more than $9.0 million and reflecting an unlevered internal rate of return of 15%;
  • Paid 2012 fourth quarter cash dividend of $0.20 per share, resulting in a dividend payout ratio of a very well-covered 80% of Normalized FFO;
  • Based on expected opportunities to acquire new assets at cash returns that are immediately accretive, the Company has estimated that Normalized FFO per share in 2013 will be $1.10.

Included in the financial tables accompanying this press release is information about the Company’s assets and liabilities, net income and reconciliations of net income to FFO and AFFO, all on a comparable basis to 2011 periods.

“In 2012 we achieved a number of important milestones, increasing assets beyond the $2 billion mark, driving revenue to more than $200 million and increasing Normalized FFO per share by 27% through immediately accretive acquisitions,” said Edward K. Aldag, Jr., Chairman, President and CEO of Medical Properties Trust. “We achieved these accomplishments with our strongest acquisition year in history with more than $800 million in investment and commitments, which yield an average first-year return of 10.3%. With a strong acquisition pipeline and favorable capital markets conditions, we expect to make additional accretive acquisitions to drive further increases in Normalized FFO per share in 2013.”

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