$MPT

MEDICAL PROPERTIES TRUST INC

CIK:0001287865|SEC Filings

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net (loss) income	$ (2,288)	$ (98,068)	$ 30,819	$ (216,084)
Other comprehensive income (loss):
Unrealized loss on interest rate hedges, net of tax	0	(193)	0	(4,208)
Foreign currency translation gain (loss)	11,262	210,781	(33,251)	304,248
Total comprehensive income (loss)	8,974	112,520	(2,432)	83,956
Comprehensive income attributable to non-controlling interests	(307)	(289)	(587)	(548)
Comprehensive income (loss) attributable to MPT Operating Partnership partners	8,667	112,231	(3,019)	83,408
MPT Operating Partnership, L.P. [Member]
Net (loss) income	(2,288)	(98,068)	30,819	(216,084)
Other comprehensive income (loss):
Unrealized loss on interest rate hedges, net of tax	0	(193)	0	(4,208)
Foreign currency translation gain (loss)	11,262	210,781	(33,251)	304,248
Total comprehensive income (loss)	8,974	112,520	(2,432)	83,956
Comprehensive income attributable to non-controlling interests	(307)	(289)	(587)	(548)
Comprehensive income (loss) attributable to MPT Operating Partnership partners	$ 8,667	$ 112,231	$ (3,019)	$ 83,408

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income (loss)	$ 30,819	$ (216,084)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	146,973	133,669
Amortization of deferred financing costs and debt discount	13,548	12,502
Straight-line rent revenue from operating and finance leases	(70,285)	(82,758)
Stock / Unit-based compensation expense	5,434	18,522
Gain on sale of real estate	(5,672)	(13,271)
Real estate and other impairment charges, net	36,435	81,479
Debt refinancing and unutilized financing costs	0	3,615
Tax rate changes and other	(45,155)	1,121
Non-cash fair value adjustments	5,474	156,843
Other adjustments	(9,334)	(26,722)
Changes in:
Interest and rent receivables	711	4,565
Other assets	(2,281)	(3,301)
Accounts payable and accrued expenses	(56,671)	(11,878)
Deferred revenue	(1,811)	(6,171)
Net cash provided by operating activities	48,185	52,131
Investing activities
Cash paid for acquisitions and other related investments	(29,322)	(102,329)
Net proceeds from sale of real estate	18,900	47,918
Proceeds received from repayment of loans receivable	62,895	3,000
Investment in loans receivable	(146,001)	(52,435)
Construction in progress and other	(20,188)	(40,623)
Capital additions and other investments, net	(45,388)	(17,265)
Net cash used for investing activities	(159,104)	(161,734)
Financing activities
Proceeds from term debt	0	2,512,970
Payments of term debt	0	(2,252,731)
Revolving credit facility, net	85,000	156,530
Dividends / Distribution paid	(109,606)	(96,548)
Lease deposits and other obligations to tenants	3,919	1,970
Offering costs	(176)	(101)
Stock / Unit vesting - satisfaction of tax withholdings	(2,776)	(745)
Repurchase of common stock / unit	(6,123)	0
Payment of debt refinancing and deferred financing costs and other financing activities	(1,766)	(49,822)
Net cash (used for) provided by financing activities	(31,528)	271,523
(Decrease) increase in cash, cash equivalents, and restricted cash for period	(142,447)	161,920
Effect of exchange rate changes	(2,120)	15,815
Cash, cash equivalents, and restricted cash at beginning of period	543,995	335,173
Cash, cash equivalents, and restricted cash at end of period	399,428	512,908
Interest paid	279,508	220,281
Supplemental schedule of non-cash investing activities:
Real estate and other assets provided in property exchange	158,706	0
Real estate acquired in property exchange	165,500	0
Supplemental schedule of non-cash financing activities:
Dividends / Distributions declared, unpaid	54,182	48,292
Cash, cash equivalents, and restricted cash are comprised of the following:
Cash and cash equivalents at beginning of period	540,859	332,335
Restricted cash, included in Other assets at beginning of period	$ 3,136	$ 2,838
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
Cash, cash equivalents, and restricted cash at beginning of period	$ 543,995	$ 335,173
Cash and cash equivalents at end of period	396,558	509,828
Restricted cash, included in Other assets at end of period	$ 2,870	$ 3,080
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
Cash, cash equivalents, and restricted cash at end of period	$ 399,428	$ 512,908
MPT Operating Partnership, L.P. [Member]
Operating activities
Net income (loss)	30,819	(216,084)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	146,973	133,669
Amortization of deferred financing costs and debt discount	13,548	12,502
Straight-line rent revenue and other	(70,285)	(82,758)
Stock / Unit-based compensation expense	5,434	18,522
Gain on sale of real estate	(5,672)	(13,271)
Real estate and other impairment charges, net	36,435	81,479
Debt refinancing and unutilized financing costs	0	3,615
Tax rate changes and other	(45,155)	1,121
Non-cash fair value adjustments	5,474	156,843
Other adjustments	(9,334)	(26,722)
Changes in:
Interest and rent receivables	711	4,565
Other assets	(2,281)	(3,301)
Accounts payable and accrued expenses	(56,671)	(11,878)
Deferred revenue	(1,811)	(6,171)
Net cash provided by operating activities	48,185	52,131
Investing activities
Cash paid for acquisitions and other related investments	(29,322)	(102,329)
Net proceeds from sale of real estate	18,900	47,918
Proceeds received from repayment of loans receivable	62,895	3,000
Investment in loans receivable	(146,001)	(52,435)
Construction in progress and other	(20,188)	(40,623)
Capital additions and other investments, net	(45,388)	(17,265)
Net cash used for investing activities	(159,104)	(161,734)
Financing activities
Proceeds from term debt	0	2,512,970
Payments of term debt	0	(2,252,731)
Revolving credit facility, net	85,000	156,530
Dividends / Distribution paid	(109,606)	(96,548)
Lease deposits and other obligations to tenants	3,919	1,970
Offering costs	(176)	(101)
Stock / Unit vesting - satisfaction of tax withholdings	(2,776)	(745)
Repurchase of common stock / unit	(6,123)	0
Payment of debt refinancing and deferred financing costs and other financing activities	(1,766)	(49,822)
Net cash (used for) provided by financing activities	(31,528)	271,523
(Decrease) increase in cash, cash equivalents, and restricted cash for period	(142,447)	161,920
Effect of exchange rate changes	(2,120)	15,815
Cash, cash equivalents, and restricted cash at beginning of period	543,995	335,173
Cash, cash equivalents, and restricted cash at end of period	399,428	512,908
Interest paid	279,508	220,281
Supplemental schedule of non-cash investing activities:
Real estate and other assets provided in property exchange	158,706	0
Real estate acquired in property exchange	165,500	0
Supplemental schedule of non-cash financing activities:
Dividends / Distributions declared, unpaid	54,182	48,292
Cash, cash equivalents, and restricted cash are comprised of the following:
Cash and cash equivalents at beginning of period	540,859	332,335
Restricted cash, included in Other assets at beginning of period	$ 3,136	$ 2,838
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
Cash, cash equivalents, and restricted cash at beginning of period	$ 543,995	$ 335,173
Cash and cash equivalents at end of period	396,558	509,828
Restricted cash, included in Other assets at end of period	$ 2,870	$ 3,080
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
Cash, cash equivalents, and restricted cash at end of period	$ 399,428	$ 512,908

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Real estate assets
Land, buildings and improvements, intangible lease assets, and other	$ 12,147,484	$ 12,205,687
Investment in financing leases	382,986	421,684
Mortgage loans	131,157	123,651
Gross investment in real estate assets	12,661,627	12,751,022
Accumulated depreciation and amortization	(1,747,295)	(1,663,056)
Net investment in real estate assets	10,914,332	11,087,966
Cash and cash equivalents	396,558	540,859
Interest and rent receivables	18,391	19,210
Straight-line rent receivables	927,465	881,452
Investments in unconsolidated real estate joint ventures	1,371,657	1,399,777
Investments in unconsolidated operating entities	313,703	322,179
Other loans	286,510	186,292
Other assets	519,124	564,040
Total Assets	14,747,740	15,001,775
Liabilities
Debt, net	9,704,996	9,697,835
Accounts payable and accrued expenses	430,084	549,105
Deferred revenue	17,052	19,289
Obligations to tenants and other lease liabilities	95,705	128,297
Total Liabilities	10,247,837	10,394,526
Equity / Capital
Preferred stock, $0.001 par value. Authorized 10,000 shares; no shares outstanding
Common stock, $0.001 par value. Authorized 750,000 shares; issued and outstanding - 597,715 shares at June 30, 2026 and 597,008 shares at December 31, 2025	597	597
Additional paid-in capital	8,577,506	8,573,396
Retained deficit	(4,214,216)	(4,136,011)
Accumulated other comprehensive income	134,962	168,213
Total Medical Properties Trust, Inc. Stockholders' Equity (MPT Operating Partnership, L.P. capital)	4,498,849	4,606,195
Non-controlling interests	1,054	1,054
Total Equity / Capital	4,499,903	4,607,249
Total Liabilities and Equity / Capital	14,747,740	15,001,775
MPT Operating Partnership, L.P. [Member]
Real estate assets
Land, buildings and improvements, intangible lease assets, and other	12,147,484	12,205,687
Investment in financing leases	382,986	421,684
Mortgage loans	131,157	123,651
Gross investment in real estate assets	12,661,627	12,751,022
Accumulated depreciation and amortization	(1,747,295)	(1,663,056)
Net investment in real estate assets	10,914,332	11,087,966
Cash and cash equivalents	396,558	540,859
Interest and rent receivables	18,391	19,210
Straight-line rent receivables	927,465	881,452
Investments in unconsolidated real estate joint ventures	1,371,657	1,399,777
Investments in unconsolidated operating entities	313,703	322,179
Other loans	286,510	186,292
Other assets	519,124	564,040
Total Assets	14,747,740	15,001,775
Liabilities
Debt, net	9,704,996	9,697,835
Accounts payable and accrued expenses	375,512	493,364
Deferred revenue	17,052	19,289
Obligations to tenants and other lease liabilities	95,705	128,297
Payable due to Medical Properties Trust, Inc.	54,182	55,351
Total Liabilities	10,247,447	10,394,136
Equity / Capital
General Partner - issued and outstanding - 5,970 units at June 30, 2026 and 5,972 units at December 31, 2025	43,716	44,457
Limited Partners - issued and outstanding - 590,816 units at June 30, 2026 and 591,036 units at December 31, 2025	4,320,561	4,393,915
Accumulated other comprehensive income	134,962	168,213
Total Medical Properties Trust, Inc. Stockholders' Equity (MPT Operating Partnership, L.P. capital)	4,499,239	4,606,585
Non-controlling interests	1,054	1,054
Total Equity / Capital	4,500,293	4,607,639
Total Liabilities and Equity / Capital	$ 14,747,740	$ 15,001,775