Medical Properties Trust Q3 Normalized FFO Rises

(RTTNews) - Medical Properties Trust Inc. (MPW) reported that its Normalized Funds from Operations for the third quarter of 2018 increased to $127.2 million compared with $120.6 million in the third quarter of 2017. Per share NFFO increased by 6.1% to $0.35 per share in the third quarter of 2018, compared with $0.33 per diluted share in the third quarter of 2017.

Net income for the third quarter of 2018 was $736.0 million or $2.00 per share, compared to $76.5 million or $0.21 per share in the third quarter of 2017. The change from 2017's third quarter primarily results from gains on sales of assets in 2018.

Total revenues for the quarter rose to $196.996 million from $176.580 million last year.

The company estimates that 2018 net income will approximate $2.76 per diluted share and that 2018 Normalized Funds from Operations will approximate $1.36 per share.

For 2019, the company expects net income to be in the range of $1.01 - $1.05 per share and 2019 Normalized Funds from Operations of $1.42 - $1.46 per share.