James Kevin Hanna, senior vice president, controller and chief accounting officer at Medical Properties Trust Inc . (NYSE:), recently sold 11,641 shares of the company’s common stock. The transaction, which took place on December 26, was executed at a price of $3.72 per share, for a total of $43,304. Following this sale, Hanna retains ownership of 366,913 shares of the company. According to a note in the filing, the sale was part of Hanna’s year-end tax planning, with the intention of potentially repurchasing shares, subject to market conditions and compliance with relevant laws and company policies. InvestingPro analysis shows the stock trading at a low price/book of 0.42, with additional insights available in a comprehensive Pro Research Report covering MPW among 1,400+ US stocks.
In other recent news, Medical Properties Trust reported several notable developments. The company reported a GAAP net loss of $1.34 per share for the third quarter of 2024, while its normalized funds from operations were $0.16 per share. In a strategic move, Medical Properties Trust entered into a definitive agreement with Astrana Health for a deal worth approximately $745 million, including the sale of a majority of Prospect’s managed care platform.
The company expects net cash proceeds of approximately $200 million after settling debt and other liabilities, with most of the cash proceeds expected in the first half of 2025. Truist Securities revised its price target on shares of Medical Properties Trust to $4.00, maintaining a Hold rating on the stock , highlighting significant maturities and the high cost of capital.
Medical Properties Trust also settled a defamation lawsuit with Viceroy Research, although details of the settlement remain undisclosed. These recent developments come amid poor capital allocation and risk management practices at the company, as well as a significant amount of maturing debt. Investors are expected to closely monitor the progress of the recently transferred Steward Hospitals and how effectively management can recapitalize the company.
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