Medical Properties Trust Inc. (MPT) reported a net loss attributable to common stockholders of $277 million, or $0.46 per diluted share, for the year ended December 31, 2025. This compares to a net loss of $2.41 billion, or $4.02 per diluted share, for the year ended December 31, 2024. Total revenues for 2025 were $972 million, a decrease of 2.4% from the $995.5 million reported in 2024. The decrease in revenue was primarily due to lower income from financing leases and interest income, partially offset by an increase in rent billed.
The company's financial performance in 2025 was significantly impacted by real estate and other impairment charges, net, which totaled $193.9 million, compared to $1.83 billion in 2024. Earnings from equity interests were $97.9 million in 2025, a substantial increase from the loss of $366.6 million in 2024. Interest expense increased to $510.4 million in 2025 from $417.8 million in 2024, reflecting higher interest rates and recent refinancing activities. The company declared dividends of $0.33 per common share in 2025, down from $0.46 per common share in 2024.
Strategic developments in 2025 included the refinancing of debt, clearing maturities through June 30, 2027, and the restructuring of the relationship with Vibra Healthcare. MPT also re-leased six California properties formerly operated by Prospect Medical Holdings to NOR Healthcare Systems. The company completed the sale of nine facilities for $121 million. Subsequent to year-end, MPT closed on the acquisition of one property in Germany for approximately €23 million and sold one property previously leased to Vibra for $12 million.
Key operational developments included the re-tenanting of former Steward Healthcare facilities and managing the bankruptcy proceedings of Prospect Medical Holdings. As of December 31, 2025, MPT's portfolio consisted of investments in 384 facilities with approximately 39,000 licensed beds across the U.S., Europe, and South America. The company's strategy focuses on leasing facilities to experienced healthcare operators under long-term net leases and selectively structuring investments as mortgage loans. MPT's outlook includes continued diversification of its portfolio and monitoring key performance indicators of its tenants to assess risk. The company expects to receive its remaining investment of $61 million in 2026 from Prospect.
About MEDICAL PROPERTIES TRUST INC
Medical Properties Trust, Inc. is a real estate investment trust specializing in acquiring, developing, and leasing healthcare facilities worldwide. Its portfolio includes hospitals, behavioral health, post-acute, and urgent care centers, leased primarily under long-term net agreements to healthcare operators. The company focuses on healthcare infrastructure, offering stable rental income, and invests across the U.S., Europe, and South America to serve diverse healthcare markets.
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