Medical Properties Trust (MPW) stock plunges, here's why
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Medical Properties Trust Provides Update on Steward Health Care
January 4, 2024 4:47 PM ESTBIRMINGHAM, Ala.--(BUSINESS WIRE)-- Medical Properties Trust, Inc. (the Company or MPT) (NYSE: MPW) today announced plans to accelerate its efforts to recover uncollected rents and outstanding loan obligations from Steward Health Care System (Steward) and related processes designed to significantly reduce its exposure to Steward.
As disclosed in the Companys third quarter 2023 Form 10-Q, Steward delayed paying a portion of its September and October rent to MPT. Despite its obtaining additional working capital financing and selling its non-core laboratory business in the fourth quarter of 2023, Steward recently informed MPT that its liquidity... More
