Medical Properties Trust, Inc. (MPT) reported a net loss of $118.3 million, or $0.20 per share, for the first quarter of 2025, a significant improvement compared to a net loss of $875.6 million, or $1.46 per share, in the same period of 2024. The reduction in net loss is attributed to a decrease in impairment charges, which were $76 million in the first quarter of 2025 compared to $693 million in the prior year, primarily related to the company's investments in Steward and the international joint venture. Total revenues for the quarter were $223.8 million, down 18% from $271.3 million in the previous year, largely due to property sales and lower income from financing leases.
The company's total assets increased to $14.85 billion as of March 31, 2025, up from $14.29 billion at the end of 2024. This growth was driven by an increase in real estate assets, which rose to $12.65 billion from $12.47 billion. MPT's cash and cash equivalents also saw a significant increase, reaching $673.5 million compared to $332.3 million at the end of the previous year. However, total liabilities also increased to $10.09 billion from $9.46 billion, primarily due to higher debt levels, which rose to $9.47 billion from $8.85 billion.
In terms of operational developments, MPT completed the sale of two facilities and an ancillary facility for approximately $20 million during the first quarter, resulting in a gain of $8.1 million. The company also funded about $39 million to Steward Health Care System to gain control over certain real estate assets. MPT's portfolio consisted of 393 properties leased or loaned to 53 operators across the U.S., Europe, and South America, with ongoing development projects in Texas and Massachusetts.
Looking ahead, MPT's management expressed cautious optimism regarding its ability to navigate the challenges posed by the ongoing bankruptcy proceedings of some tenants, including Prospect. The company has taken steps to re-tenant or sell properties previously leased to Steward and is actively working with new operators to stabilize its revenue streams. MPT's liquidity position remains strong, with approximately $1.3 billion available as of May 7, 2025, which is expected to support its short-term liquidity requirements and potential future investments.
About MEDICAL PROPERTIES TRUST INC
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