Medical Properties Resumes Control of its Real Estate From Steward

Zacks09-13

Medical Properties Trust, Inc. MPW — also known as MPT — recently announced that it reached an agreement with Steward Health Care System, its secured lenders and the Unsecured Creditors Committee. ...

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MPW — also known as MPT — recently announced that it reached an agreement with Steward Health Care System, its secured lenders and the Unsecured Creditors Committee.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/medical-properties-resumes-control-real-173100099.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Medical Properties Resumes Control of its Real Estate From Steward</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMedical Properties Resumes Control of its Real Estate From Steward\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-13 01:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/medical-properties-resumes-control-real-173100099.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Medical Properties Trust, Inc. MPW — also known as MPT — recently announced that it reached an agreement with Steward Health Care System, its secured lenders and the Unsecured Creditors Committee.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/medical-properties-resumes-control-real-173100099.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4225","symbol_name":"医疗保健房地产信托","start_time":0,"source_url":"https://finance.yahoo.com/news/medical-properties-resumes-control-real-173100099.html","article_id":"2467780969","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/rVApETWEsM5902MnSJcT7A--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/9fbd184faf399044b3daf708db81da25"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467780969","pubTimestamp":1726162260,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Medical Properties Trust, Inc. MPW — also known as MPT — recently announced that it reached an agreement with Steward Health Care System, its secured lenders and the Unsecured Creditors Committee.This agreement reinstates MPT’s control over its real estate and terminates its relationship with Steward. It also enables the immediate transition of operations at 15 hospitals in the country. The settlement agreement comprises 23 hospitals that were formerly operated by Steward.The company has also collaborated with state regulators to establish structured transition plans aimed at preventing hospital closures, protecting jobs and ensuring the continuity of care for patients.The Bankruptcy Court has set a hearing date on Sept. 17 to review and approve a final order that confirms the settlement. Additionally, the agreement is subject to the successful completion of Steward’s sales to the new operators and the necessary approvals from applica","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4225":"医疗保健房地产信托","BK4588":"碎股","BK4203":"医疗保健房地产投资信托","SBRA":"Sabra Healthcare REIT","MPW":"Medical Properties Trust","BK4585":"ETF&股票定投概念","CTRE":"CareTrust REIT Inc."},"translate_title":"Medical Properties从Steward手中恢复对其房地产的控制权","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CTRE":1,"MPW":1,"SBRA":1},"content_text":"Medical Properties Trust, Inc. MPW — also known as MPT — recently announced that it reached an agreement with Steward Health Care System, its secured lenders and the Unsecured Creditors Committee.\nThis agreement reinstates MPT’s control over its real estate and terminates its relationship with Steward. It also enables the immediate transition of operations at 15 hospitals in the country. The settlement agreement comprises 23 hospitals that were formerly operated by Steward.\nThe company has also collaborated with state regulators to establish structured transition plans aimed at preventing hospital closures, protecting jobs and ensuring the continuity of care for patients.\nNew Lease Agreement With Tenants\nMedical Properties has secured new lease agreements with four tenants to operate 15 hospitals. Healthcare Systems of America will operate through five hospitals in Southeast Florida, two in East Texas and one in Louisiana. Honor Health will take over the operations of three hospitals in Arizona. Quorum Health will assume control of two hospitals in West Texas, and Insight Health will operate through two hospitals in Ohio.Commencing from Sept. 11, 2024, these replacement tenants will be entitled to the operating revenue and will bear the responsibility for the expenses of the hospitals they manage on an interim basis for Steward until the purchase agreements regarding the operations can be finalized with Steward.\nBased on the new lease agreements, MPT anticipates receiving nearly $160 million in total annualized cash rental payments on this portfolio’s approximate lease base of $2 billion upon reaching stabilization in the fourth quarter of 2026. This represents approximately 95% of the cash rent Steward would have owed for the same assets during that period. Moreover, the weighted average initial lease term is approximately 18 years.\nThe company will waive cash rent payments for all 15 properties for the remainder of 2024 in order to expedite the re-tenanting process and minimize any disruption to patient care. It is anticipated that cash rent payments will start in the first quarter of 2025, reaching approximately 50% of the total fully stabilized rent by the conclusion of 2025 and achieving complete stabilization by the fourth quarter of 2026.\nSettlement Agreement\nIn accordance with the terms of the agreement, MPT agreed to sell three Florida hospitals to Orlando Health. A significant portion of the proceeds of that sale will be transferred to Steward. Consequently, Steward and its other stakeholders have relinquished all rights to any proceeds from future transactions related to any other hospitals that remain in the portfolio as of Sept. 11, 2024.\nHearing to Confirm Settlement\nThe Bankruptcy Court has set a hearing date on Sept. 17 to review and approve a final order that confirms the settlement. Additionally, the agreement is subject to the successful completion of Steward’s sales to the new operators and the necessary approvals from applicable state and local regulatory bodies.\nMPW’s Transaction Conclusion\nThe replacement of Steward enhances the company’s ability to safeguard the essential operations of these facilities, thereby aiding their communities and preserving the value of its real estate for the benefit of shareholders.\nOver the past six months, shares of this Zacks Rank #3 (Hold) company have gained 23.1% compared with the industry’s growth of 13.3%.\nImage Source: Zacks Investment Research\nStocks to Consider\nSome better-ranked stocks from the healthcare REIT sector are CareTrust REIT CTRE and Sabra Healthcare REIT SBRA, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nThe Zacks Consensus Estimate for CareTrust’s 2024 FFO per share stands at $1.48, indicating an increase of 5% from the year-ago reported figure.\nThe Zacks Consensus Estimate for Sabra’s 2024 FFO per share is pinned at $1.41, suggesting year-over-year growth of 6%.\nNote: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSabra Healthcare REIT, Inc. (SBRA) : Free Stock Analysis Report\nMedical Properties Trust, Inc. (MPW) : Free Stock Analysis Report\nCareTrust REIT, Inc. (CTRE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2467780969"}