MEDICAL PROPERTIES TRUST, INC. (NYSE:MPW) Files An 8-K Results of Operations and Financial ConditionItem 2.02.
On February8, 2018, Medical Properties Trust, Inc. issued a press release announcing its financial results for the quarter and year ended December31, 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 three non-GAAP financial measures in the attached press release for the quarter and year ended December31, 2017: 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 $71.9million, or $0.19 per diluted share for the quarter ended December31, 2017, compared to $43.0million, or $0.13 per diluted share for the quarter ended December31, 2016. For the year ended December31, 2017, net income was $289.8million, or $0.82 per diluted share compared to $225.0million, or $0.86 per diluted share for the year ended December31, 2016. In the attached press release, the Company disclosed Funds from operations of $107.7million and $408.5million for the quarter and year ended December31, 2017, respectively, and Normalized funds from operations of $134.8million and $474.9million for the quarter and year ended December31, 2017, respectively. Adjusted funds from operations were disclosed in the press release as $112.5million and $407.9million for the quarter and year ended December31, 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. | Financial Statements and Exhibits. |
(d) Exhibits.
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MEDICAL PROPERTIES TRUST INC ExhibitEX-99.1 2 d451489dex991.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.
