MEDICAL PROPERTIES TRUST, INC. (NYSE:MPW) Files An 8-K Results of Operations and Financial ConditionItem 2.02.
On August9, 2017, Medical Properties Trust, Inc. issued a press release announcing its financial results for the three and six months ended June30, 2017. A copy of the press release is attached as Exhibit99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Current Report on Form 8-K, including the information set forth in Exhibit99.1 and Exhibit 99.2 attached hereto, shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section or Sections11 and 12(a)(2) of the Securities Act of 1933, as amended. In addition, this information shall not be deemed incorporated by reference in any filing of Medical Properties Trust, Inc. with the Securities and Exchange Commission, except as expressly set forth by specific reference in any such filing.
The Company disclosed certain non-GAAP financial measures in the attached press release for the three and six months ended June30, 2017, including Funds from operations, Normalized funds from operations and Adjusted funds from operations. The most directly comparable GAAP financial measure to each of these non-GAAP financial measures is net income, which was $73.4million, or $0.21 per diluted share for the three months ended June30, 2017 compared to $53.7million, or $0.22 per diluted share for the three months ended June30, 2016. For the six months ended June30, 2017, net income was $141.4million, or $0.42 per diluted share compared to $111.7million, or $0.47 per diluted share for the six months ended June30, 2016. In the attached press release, the Company disclosed Funds from operations of $103.3million and $191.9million for the three and six months ended June30, 2017, respectively, and Normalized funds from operations of $113.6million and $219.6million for three and six months ended June30, 2017, respectively. Adjusted funds from operations were disclosed in the press release as $98.6million and $191.6million for the three and six months ended June30, 2017, respectively.
A reconciliation of the non-GAAP financial measures to net income as well as a statement disclosing the reasons why the Company’s management believes that presentation of these non-GAAP financial measures provides useful information to investors regarding the Company’s financial condition and results of operations are included in Exhibits 99.1 and 99.2.
| Item 2.02. | Submission of Matters to a Vote of Security Holders. |
At the 2017 Annual Meeting, the Company’s stockholders voted, among other matters, on an advisory basis, as to the frequency with which executive compensation will be subject to future advisory stockholder votes. As previously reported, the greatest number of votes was cast in favor of every “1 Year”.In accordance with the Board’s recommendation as set forth in the Company’s proxy statement for the Annual Meeting and consistent with the stated preference of the Company’s stockholders, the Company has determined that future advisory stockholder votes on executive compensation will be conducted on an annual basis, until the next advisory vote on this matter is held.
| Item 2.02. | Financial Statements and Exhibits. |
(d) Exhibits.
|
Exhibit Number |
Description |
| 99.1 | Press release dated August9, 2017 reporting financial results for the three and six months ended June30, 2017 |
| 99.2 | Medical Properties Trust, Inc. 2nd Quarter 2017 Supplemental Information |
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MEDICAL PROPERTIES TRUST INC ExhibitEX-99.1 2 d398381dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Contact: Tim Berryman Director – Investor Relations Medical Properties Trust,…To view the full exhibit click here
About MEDICAL PROPERTIES TRUST, INC. (NYSE:MPW)
Medical Properties Trust, Inc. is a self-advised real estate investment trust (REIT) focused on investing in and owning net-leased healthcare facilities. It conducts all of its business through MPT Operating Partnership, L.P. It acquires and develops healthcare facilities and leases the facilities to healthcare operating companies under long-term net leases. It also makes mortgage loans to healthcare operators collateralized by their real estate assets. The Company’s portfolio consists of 202 properties, which includes 179 facilities that the Company owns and 14 properties controlled in the form of mortgage loans. The properties are leased/mortgaged to 29 tenants located in 28 states, and Germany, United Kingdom, Italy, and Spain. Of the total portfolio, 9 facilities are under development. Its facilities consist of 64 general acute care hospitals, 69 inpatient rehabilitation hospitals, 23 long-term acute care hospitals, 43 free standing emergency rooms, and 3 medical office buildings.
