Medical Properties Trust (MPW) stock surged 5.87% in pre-market trading on Thursday after the company reported better-than-expected Q4 results.
The healthcare real estate investment trust reported a normalized funds from operations (NFFO) of $0.18 per share for the fourth quarter, beating analysts' estimates of $0.11 per share. Despite incurring impairment charges and fair value adjustments related to Prospect Medical Group and PHP Holdings, the company's NFFO increased by 49.4% year-over-year, aided by higher rent and financing lease income.
Medical Properties Trust also announced the completion of a $2.5 billion senior secured notes offering, which will allow the company to repay all debt maturities until October 2026. Additionally, the company secured an extension of its line of credit with its banking group, providing access to approximately $1.4 billion in combined cash and credit availability.