Medical Properties Trust Q3 Results Top Estimates; Lifts FY22 Outlook
(RTTNews) - Medical Properties Trust, Inc. (MPW) reported Thursday that third-quarter net income attributable to stockholders increased to $221.79 million or $0.37 per share from $171.14 million or $0.29 per share prior-year quarter.
Normalized funds from operations or NFFO were $272.29 million or $0.45 per share, compared to $262.84 million or $0.44 per share in the year-ago quarter. Adjusted funds from operations were $0.36 per share, compared to $0.34 per share last year.
On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter decreased to $352.34 million from $390.78 million in the same quarter last year. Total adjusted revenues were $397.34 million. Analysts expected revenue of $391.58 million for the quarter.
Looking ahead to fiscal 2022, Medical Properties Trust raised its guidance for net income to a range of $1.99 to $2.01 per share from the prior range of $1.88 to $1.92 per share and NFFO to a range of $1.80 to $1.82 from the prior range of $1.78 to $1.82 per share. The Street is looking for earnings of $1.96 per share for the year.
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