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Dividend Growth with 60% Upside

Trinity Industries (TRN) – Stock Summary

The stock pays a modest dividend yield of 1.07% but it has significant dividend growth potential in the coming years.  The Company has a 5 year average dividend growth rate of 13.40% with dividend growth of 36.36% in the last year.   The dividend will continue to grow as the EPS growth for next year is projected to be 27.23%.  EPS growth in the last quarter was 59.49% compared to the same quarter from a year earlier.  The stock has an equity summary score of 9.9 out of 10 for a VERY BULLISH outlook among analysts.  The stock is reasonable priced with a price to sales ratio of 1.07.

The stock is projected to have earnings of $5.92 in 2014.  Based on a PE of 15, the stock has a 12-month price target of $89, an increase of nearly 60% in the next year.

Trinity Industries, Inc. has declared a quarterly dividend of $0.15 per share on its $1.00 par value common stock. The quarterly cash dividend, representing Trinity’s 199th consecutively paid dividend, is payable January 31, 2014 to stockholders of record on January 15, 2014.

Recent Earnings

Trinity Industries, Inc. announced earnings results for the third quarter ended September 30, 2013, including the following significant highlights:

  • Record quarterly earnings per share of $1.26, a 58% increase year-over-year
  • Anticipates fourth quarter earnings per common diluted share of between $1.24 and $1.34 and raises full year 2013 earnings guidance to between $4.55 and $4.65
  • Rail Group receives orders for 5,610 new railcars during the third quarter resulting in a backlog of 40,050 units with a value of $5.1 billion
  • Structural wind towers business receives orders with a value of $442 million, extending production visibility through 2015
  • Company repurchases approximately 540,000 shares of its common stock during the quarter at a cost of $23.9 million
  • Available liquidity at the end of the third quarter of approximately $1.2 billion

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Trinity Industries, Inc. reported net income attributable to Trinity stockholders of $99.6 million, or $1.26 per common diluted share, for the third quarter ended September 30, 2013. Net income for the same quarter of 2012 was $63.2 million, or $0.80 per common diluted share.

New Developments

Trinity Industries Inc. announced on 1/10/2014 that it  has acquired the assets of WesMor Cryogenic Companies through a newly formed subsidiary.  WesMor specializes in the manufacturing, repair, and rehabilitation of cryogenic containers that store and transport LNG and other industrial gases with initial expected annual revenues of approximately $25 million. The transaction includes the acquisition of a manufacturing facility in La Porte, Texas, and three service facilities located in La Porte; Slidell, Louisiana; and Port Washington, Ohio.

Recently, equipment finance company Element Financial Corporation (ELEEF) announced that it has entered into a strategic alliance agreement with Dallas-based Trinity Industries, Inc. (TRN) , a railcar manufacturer and lessor, to provide lease financing for up to US$2 billion worth of railcars over the next two years.  Under the terms of the Agreement, Element will be presented with “preferred opportunities” to enter into lease financings for a diversified fleet of railcars, including new railcars to be manufactured by Trinity , existing railcars from Trinity’s lease fleet as well as secondary market purchases.

Trinity Industries, Inc. recently announced that its subsidiary, Trinity Railcar Repair, Inc., has acquired the assets of Seaboard Railcar Repair (“Seaboard”). Seaboard provides a full range of services for both tank and freight railcars ranging from standard maintenance and program modifications to specialized cleaning, blasting, lining, painting, inspection and testing. The transaction includes the acquisition of two maintenance facilities located in Oklahoma and North Carolina with access to a number of major railroad interchanges. The assets and results of operations of this acquisition will be reflected in the Rail Group for financial reporting purposes.

Trinity Industries, Inc., headquartered in Dallas, Texas, is a diversified industrial company that owns a variety of market-leading businesses which provide products and services to the industrial, energy, transportation, and construction sectors. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group.

Ameriprise offers a Total Yield Stock Play with a Growing Dividend

While income investors constantly seek out stocks with growing dividend yields, they can also benefit from share buybacks.  The share buybacks present an opportunity for investors to get capital gains in addition to current income.  Currently, 80% of S&P 500 companies are buying back shares. Combine this with dividend yield and you can get a total yield of greater than 10% in 2014.  We are presenting a series of stocks worth a look.

Ameriprise Financial (NYSE: AMP) has a projected share buyback yield of 14% and a current dividend yield of 1.95%.  This provides investor a potential for a total yield of 15.95%.  The stock has an equity summary score of 7.9 out of 10 for a BULLISH outlook.  The stock has a 12 month price target of $104.

Ameriprise has a one-year dividend growth of 48%.  The dividend has grown from $0.35 in Q3 2012 to the current $0.52 in Q3 2013.  The 5-year average annual dividend growth rate is 25%.  AMP has a current dividend payout ratio of 36%.

Second-quarter 2013 net operating revenues were up 9%, year to year, on a 14% increase in management and advice fees and a 4% decline in net investment income.  Assets under management and administration of $703 billion were up 7% from a year earlier, helped by market appreciation.  We expect at least modest single digit annual revenue growth in 2013 and 2014, on a sustained pickup in asset inflows.  We think the Annuities segment will continue to be under pressure from the low interest rate environment in the near term, and that Annuities and Protection segment revenues will be relatively stable over the next two years, holding back the company’s overall revenue growth rate.

Balancing fund underperformance and outflows, particularly in International equities, slower-than-expected margin improvement, and AMP’s commitment to return capital to shareholders, we believe the shares are appropriately valued. We have a positive view of AMP’s focus on the growing market of affluent households.  We believe AMP is well positioned for long-term growth due to its shift toward the less capital-intensive and higher growth potential businesses of retirement planning advice and asset management, as well as a more international focus. Also, further economies of scale should be realized as integration of Columbia Management was nearly completed in 2012.

More Special Dividends this Week

Primus Telecommunications Group, Incorporated (PTGI), a leading international wholesale service provider to fixed and mobile network operators worldwide, announced today that its Board of Directors has approved a special cash dividend of $8.50 per share on all issued and outstanding PTGi common stock. The special cash dividend will be paid on August 27, 2013 to holders of record of PTGi common stock as of August 20, 2013.

The dividend creates a current yield of 70%.  The special dividend comes after disappointing earnings.

PTGI shares are down market trading as it reports Q1 revenue of $51.3 million, down from $59.8 million a year prior. Net loss was $3.2 million, or $0.23 per share, compared to $6.9 million, or $0.50 per share.

I would PASS on the PTGI special dividend based on the poor EPS report.

Nature’s Sunshine Products, Inc. (NATR), a leading natural health and wellness company engaged in the manufacture and direct selling of nutritional and personal care products, today reported its consolidated financial results for the second quarter, and declared a special one-time cash dividend of $1.50 per share, a regular quarterly cash dividend of $0.10 per share and a $10 million share repurchase program.

The combined $1.60 in dividends creates a current yield of 8.55%.  The dividend is payable on August 29, 2013 to shareholders of record as of the close of business on August 19, 2013. The amount of the cash dividends is expected to be approximately $25.6 million. In addition, the Board of Directors authorized a $10 million share repurchase program to be implemented over two years.

The special one-time cash dividend and share repurchase program is due to the Company’s strong cash flow and its record high quarter-end cash balance of $87.3 million, and the Board’s commitment to return capital to shareholders and its confidence in the long-term growth prospects of the Company’s business.

The stock trades at a PE ratio of 14 and a price to sales ratio of 0.78.

NATR has an equity summary score of 7.4 out of 10 for a Bullish outlook.

Here is a Nice Dividend Capture for July

For investors looking to book a solid dividend, Himax Technology (NASDAQ: HIMX) is the place to be in July.  Himax Technology has a current dividend yield of 4.78%.  On June 17, 2013 the board of directors approved a dividend of $0.25 per share.  The dividend is payable on July 31, 2013 to shareholders of record on July 19, 2013.

The stock has recently pulled back to $5.22 and presents a nice dividend capture strategy as HIMX pays an annual dividend.  Himax has an equity summary score of 9.8 out of 10 for a VERY Bullish outlook.  The stock has a 12-month price target of $8.40.  The stock is up 188% in the past year.

HIMX is growing solidly, and has shown this by beating Q1 earnings estimates, despite the fact that last quarter was the slow quarter for most Asian companies.  Himax also expanded its profit margin by 5%. This stock’s growth should only continue with the massive amount of news catalysts on the horizon.

Himax recently announced the closing of the previously announced underwritten offering by selling shareholder Innolux Corporation (“Innolux”) of 25,399,753 American Depositary Shares (“ADSs”), including 3,313,011 ADSs sold pursuant to the underwriters’ over-allotment option. The underwriters have exercised in full their over-allotment option to purchase the 3,313,011 ADSs. Immediately following the closing, Innolux has ceased to be the Company’s shareholder. The Company did not sell any ADSs in the offering and did not receive any proceeds from the offering. Innolux’s sale of the ADSs will not result in dilution of the Company’s outstanding shares.

Himax Technologies, Inc. (HIMX) is a fabless semiconductor solution provider dedicated to display imaging processing technologies. Himax’s main products include display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and many other consumer electronics devices.  Additionally, Himax designs and provides controllers for touch sensor displays, LCOS micro-displays used in palm-size projectors and head-mounted displays, LED driver ICs, power management ICs, scaler products for monitors and projectors, tailor-made video processing IC solutions and silicon IPs. The Company also offers digital camera solutions, including CMOS image sensors and wafer level optics, which are used in a wide variety of applications such as mobile phone, tablet, laptop, TV, PC camera, automobile, security and medical devices. Headquartered in Tainan, Taiwan, the Company has offices in Hsinchu and Taipei, Taiwan and in China, Korea, Japan and the US.

Investors can find High Yield here

For investors looking for high yield without the risk of rising interest rates, AllianceBerstein Holdings (AB) is definitely worth a look.  The stock has a nice 6.62% dividend yield that has increased 64% in the past year.  AB has an equity summary score of 9.8 out of 10 for a Very Bullish rating.

First Call consensus has EPS increasing 23% in 2013 and 13% in 2014.  Analysts have a 12-month price target of $28.

AllianceBernstein’s  first-quarter profit rose 44% as demand from institutional investors helped the money manager book its second-straight quarter of inflows.

Assets under management stood at $443.2 billion at the end of the quarter, up from $430 billion at the end of 2012 and $419.1 billion a year earlier. Market gains added $10.6 billion while the firm also drew a net $2.6 billion in investor cash.

Institutional demand accounted for the bulk of the inflow, contributing a net $3.3 billion and helping to offset a modest outflow from the firm’s private- client business.

“Momentum continued to build in our institutions channel, where gross sales nearly doubled year-over-year,” Chief Executive Peter Kraus said.

AllianceBernstein reported a profit of $38.5 million, or 38 cents a unit, versus a year-earlier profit of $26.7 million, or 26 cents a unit.  Net revenue rose 4% to $709.1 million. Analysts expected earnings of 35 cents a unit on $684 million in revenue.

Total net revenues were up 4%, year to year, in the first quarter, driven by base investment management fees and easy comparisons.  We expect revenues to be up in the mid- to high single digits in 2013 and 2014 given easier comparisons and contraction of equity assets to the point where fixed income inflows are able to offset equity outflows.

The company has made progress in improving efficiency from cost-cutting efforts and has recently seen an encouraging turnaround in asset flows, but there is still work to do to improve equity fund performance.

This Lodging Stock is a Stable Growth and Income Play

RLJ Lodging Trust (RLJ) is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels.  The Company’s portfolio consists of 145 hotels in 21 states and theDistrict of Columbia, with a total of more than 21,600 rooms.  RLJ is a great growth and income stock as it is projected to increase EPS by 19% in 2013 while paying a steady 3.6% dividend yield.

The Company recently announced that it acquired the historicHumble Oil Buildingcomplex in downtownHouston, for a purchase price of$79.5 million, or approximately$151,000per key based on a combined forward room count of 528 keys.

The Humble Oil Buildingis a three-tower complex that occupies an entire city block in downtownHouston. The complex consists of an 82-unit apartment tower that will be converted to a 166-room SpringHill Suites and two existing hotels, the existing 191-roomCourtyard Houston Downtown Convention Center(“the Courtyard”) and the 171-roomResidence Inn Houston Downtown Convention Center(“the Residence Inn”). The purchase price represents a forward capitalization rate of approximately 10.1% for the Courtyard and 9.5% for theResidence Innbased on each hotel’s projected 2013 net operating income and applicable purchase price allocation. The Company purchased this portfolio of assets with its revolving credit facility.

“Our ability to execute this off-market transaction required the expertise, experience, and relationships that are unique to RLJ,” commentedThomas J. Baltimore, Jr., President and Chief Executive Officer. “Acquiring theHumble Oil Buildingcomplex represents a value-add opportunity. Both existing hotels have notable upside potential and our extensive experience managing complex renovations will enable us to deliver another conversion property that will help drive economies of scale.”

Adjusted FFO for the three months ended December 31, 2012, increased $13.4 million to $50.7 million, representing a 35.9% increase over the comparable period in 2011. For the twelve months ended December 31, 2012, Adjusted FFO increased $43.5 million to $185.6 million, representing a 30.6% increase over the comparable period in 2011. Adjusted FFO per diluted share and unit for the three and twelve months ended December 31, 2012, was $0.48 and $1.74, respectively, based on the Company’s diluted weighted-average shares and units outstanding of 106.8 million and 106.6 million for each period, respectively.

Net income attributable to common shareholders for the three months ended December 31, 2012, was $13.7 million, compared to a loss of $1.3 million in the comparable period in 2011. For the twelve months ended December 31, 2012, net income attributable to common shareholders was$41.3 million, compared to$11.3 million for the comparable period in 2011.

First Call consensus has the company producing $2.08 in EPS in 2013 which is a 19% increase from the prior year.  EPS are projected to be $2.34 in 2014 which is a nice 12% increase from 2013.  First Call Analyst currently have a buy rating with a 2.0 rating.  RLJ has an equity summary score of 7.2 out of 10 for a Bullish outlook.  The stock is currently trading near $22.50, 10.8 times 2013 EPS and 9.6 times 2014 EPS.

This Stocks offers a 4% Yield and 13% Upside

AbbVie (ABBV) is a global research-based pharmaceuticals business that emerged as a separate entity following its spin-off from Abbott Laboratories at the start of 2013.  AbbVie is worth a look for the growth and income investors as it has a 4.2% dividend yield and a price target with 13% upside potential.

AbbVie’s most important product is Humira, an injectable biologic TNF (tumor necrosis factor) blocker treatment for rheumatoid arthritis (RA) and similar conditions, with sales of $9.3 billion in 2012, up from $7.9 billion in 2011.We estimate that Humira accounts for more than half of the global prescription pharmaceuticals market for rheumatoid arthritis. Besides moderate to severe RA in adults, Humira is also approved for eight other uses, including juvenile idiopathic arthritis, plaque psoriasis, psoriatic arthritis, ankylosing spondylitis, ulcerative colitis, Crohn’s disease in adults, juvenile Crohn’s disease and axial spondyloarthritis.

AbbVie’s strategic objectives include expanding Humira’s sales through greater penetration of emerging markets, increased emphasis on earlier diagnosis of autoimmune patients, and new indications. ABBV also plans to advance its R&D pipeline through internal development or through collaborations and licensing agreements. From 2013 through 2016, the company plans to launch five significant new products. The company also plans to maximize efficiency by streamlining the supply chain and optimizing residual value when products near the end of exclusivity.

In January 2013, ABT said that global sales of branded drugs that now belong to ABBV rose 7.4% to$5.14 billionin Q4, topping the$4.8 billionestimate of Wells Fargo analysts. Sales of Humira, ABBV’s leading product, increased 23% to$2.68 billion, about$200 millionabove Wells Fargo’s estimate.

The company estimated 2013 adjusted earnings at $3.03 to $3.13 a share, while analysts polled by Thomson Reuters expect $3.08 a share. Abbott had previously said fourth-quarter sales of Humira jumped 23% to $2.68 billion.  AbbVie said it expects the drug’s sales to increase by a low double-digit percentage in 2013.  The company also said it plans to initiate several Phase III programs this year, including atrasentan for diabetic kidney disease and ABT-199 in chronic lymphocytic leukemia.

The stock is reasonably priced with a current PE of 11.6 compared to an industry PE of 19.7.  AbbVie has a 12-month target price of $43 applies a modest premium to peers P/E of 13.4X to our $3.20 EPS estimate for 2014. The $1.60 annual dividend presently yields 4.2%.We think ABBV’s $7.2 billion cash position enables it to do accretive acquisitions and stock repurchases.  ABBV has an equity summary score of 9.9 out of 10 for a Very Bullish outlook.

The board of directors of AbbVie declared a quarterly cash dividend and also authorized a share repurchase program of up to $1.5 billion of the Company’s outstanding common stock.  The cash dividend of $0.40 per share is payable May 15, 2013 to stockholders of record at the close of business on April 15, 2013.  AbbVie was named to the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.  AbbVie was included as a result of the Index’s change in its treatment of spin-off companies.

Icahn Enterprises Increases Annual Dividend by 185% – 5.86% Dividend Yield

Icahn Enterprises L.P. (NYSE: IEP) announced that the Board of Directors of its general partner has approved a modification to the Company’s distribution policy to provide for an increase in the annual distribution from $1.40, comprised of $0.40 in cash and $1.00 in depositary units, to $4.00 per depositary unit, payable in either cash or additional depositary units, at the election of each depositary unit holder.

The Board of Directors of the general partner has declared a quarterly distribution for the first quarter of 2013 in the amount of$1.00, which will be paid on or aboutApril 15, 2013to depositary unit holders of record at the close of business onFebruary 21, 2013. Depositary unit holders will have untilMarch 14, 2013to make an election to receive either cash or additional depositary units; if a holder does not make an election, it will automatically be deemed to have elected to receive the dividend in cash. Depositary unit holders who elect to receive additional depositary units will receive units valued at the volume weighted average trading price of the units on NASDAQ during the 20 consecutive trading days immediately following the election deadline. No fractional depositary units will be issued pursuant to the dividend payment.

The new annual dividend will result in a dividend yield of 5.86% at the stock’s current price.  Icahn Enterprises is up 55% over the past 52 weeks. Icahn Enterprises L.P. (NYSE: IEP) has an equity summary score of 10 out of 10 for a VERY Bullish outlook.

Carl C. Icahn, the Chairman of Icahn Enterprises and the holder of approximately 93% of the outstanding depositary units, is known for his investor activist actions to increase the profit of companies that he buys large share positions in to sell when the value increases.  For those investors wanting to follow Icahn, it is best to purchase IEP rather than to buy into the stocks he invests in.

Mr. Icahn stated: “I’m very proud of the performance of Icahn Enterprises. Since Icahn Enterprises adopted an activist philosophy, the trading price of Icahn Enterprises’ depositary units has risen from $7.625 on December 31, 1999 to $59.95 on February 8, 2013, the last trading day before this announcement – an increase of approximately 817%, which translates to an annualized return of approximately 18% for those who owned the stock through that period (including reinvestment of distributions into additional depositary units and taking into account in-kind distributions of depositary units). Comparatively, the S&P 500, Dow Jones Industrial and Russell 2000 indices increased only approximately 32%, 66% and 116%, respectively, over the same period, which translates to an annualized return of only approximately 2%, 4% and 6%, respectively (including reinvestment of distributions into those indices).

Over the last few years, we have had substantial earnings and cash flow. We believe that our strategy will continue to produce strong results in 2013 and into the future, and that belief is reflected in the Board’s decision to increase our quarterly distribution. We believe that the strong cash flow and asset coverage from our operating subsidiaries will allow us to maintain a strong balance sheet and ample liquidity. We have provided unit holders with a choice between taking distributions in cash or in additional depositary units so that those who wish to increase their participation in the future of our business may do so.”

Best Income Stocks for 2013 – Domtar Corporation (UFS)

Domtar Corporation (NYSE: UFS) engages in the design, manufacture, marketing, and distribution of fiber-based products in North America.  The forestry industry is coming through a painful period marked by low-cost competition from emerging markets and the collapse of the U.S. housing industry.  However, the industry is rebounding as more companies are back on the growth track. One income stock to watch is Domtar Corporation (NYSE: UFS) as it offers a great total return in 2013.

Domtar made the Goldman Sachs “Best Income Stocks” list for 2013.  In a recent note, Goldman Sachs Group Inc. pointed out a number of stocks that could provide some easy money for investors by virtue of what the Wall Street bank calls a “social contract” — a combination of earnings appreciation due to expected share buybacks along with dividend yields.  It could be easy money, provided shares remain stable or rise, for investors looking for as close to a guarantee as equities can offer.

Paper miller Domtar Corp. (UFS) is high on the total yield list with 15.6% due to a potential 13.5% earnings accretion from share buybacks and 2.1% from dividends.  Upside on the mid-$80 stock is roughly 3%.

Domtar has an equity summary score of 8.1 out of 10 for a Bullish outlook.  First Call Analyst consensus have a BUY recommendation with a 2.1 rating.

Under its stock repurchase program, Domtar repurchased, during the 3rd quarter, 578,328 shares of common stock at an average price of $75.42 per share.  Since the inception of the program, Domtar repurchased 8,135,157 shares of common stock at an average price of $80.53. At the end of the quarter, Domtar had$345 million remaining under this program.

Domtar has a current dividend yield of 2.16%.  The dividend was increased 28.6% in the past year with the most recent increase in Q2 2012.

Domtar Corporation  reported net earnings of $66 million ($1.84 per share) for the third quarter of 2012 compared to net earnings of $59 million ($1.61 per share) for the second quarter of 2012 and net earnings of $117 million ($2.95 per share) for the third quarter of 2011. Sales for the third quarter of 2012 amounted to $1.4 billion.

Excluding extraordinary items, the Company had earnings before items1 of $67 million ($1.87 per share) for the third quarter of 2012 compared to earnings before items1 of $59 million ($1.61 per share) for the second quarter of 2012 and earnings before items1 of $123 million ($3.10 per share) for the third quarter of 2011.

When compared to the second quarter of 2012, paper shipments increased 0.9% and pulp shipments increased 12.8%.

Domtar is projected to increase EPS by 12.8% to $7.38 in 2013 and 19% to $8.84 in 2014.  With a PE of 12, the 2013 price target is $88.56.

We believe Domtar’s focus will continue to be on improving its cost structure, rationalizing its assets to match supply with demand, maximizing its free cash flow generation, and seeking acquisitions that reduce earnings volatility.  Domtar has made solid progress on debt reduction, and we expect it to use its strong cash flows to accelerate share repurchases.

Company Profile:

Domtar is the largest integrated marketer of uncoated freesheet paper in North America with recognized brands such as Cougar®, Lynx® Opaque Ultra, Husky® Opaque Offset, First Choice® and Domtar EarthChoice®.  Domtar is a leading marketer and producer of a complete line of incontinence care products marketed primarily under the Attends® brand name.  Domtar owns and operates Ariva®, an extensive network of strategically located paper and printing supplies distribution facilities.

This Healthcare REIT will Grow EPS 20% in 2013

Medical Properties Trust, Inc.’s (NYSE: MPW) continued successful execution of its growth and investment strategies have driven the Company’s strong results.  Since 2010, MPW has made hospital investments totaling more than $1.0 billion with average returns of more than 10%.  MPW has rewarded shareholders with a current dividend yield of 6.81%.

Medical Properties Trust, Inc. operates as a real estate investment trust (REIT) in the United States.  It acquires, develops, and invests in healthcare facilities; and leases healthcare facilities to healthcare operating companies and healthcare providers.

Third quarter 2012 total revenues increased 55% to $53.7 million compared with $34.6 millionfor the third quarter of 2011. Normalized FFO for the quarter increased 71% to $33.4 millioncompared with $19.5 million in the third quarter of 2011. Per share Normalized FFO increased 39% to $0.25 per diluted share during the 2012 third quarter, compared with $0.18 per diluted share in the third quarter of 2011. The FFO dividend payout ratio for the third quarter of 2012 was 80%, an 11% improvement compared with the second quarter of 2012.

Net income for the third quarter of 2012 was $31.5 million (or $0.23 per diluted share) compared with net income of $0.4 million (or $0.00 per diluted share) during the third quarter of 2011.

For the nine months ended September 30, 2012 normalized FFO was $85.5 million (or $0.65per diluted share) compared with $57.5 million (or $0.52 per diluted share) in the corresponding period in 2011. Revenue for the nine months ended September 30, 2012 was$145 million compared to $102 million in the corresponding period in 2011. Net income for the first nine months of 2012 was $61.3 million compared with $13.8 million in 2011.

Based upon its expected 2012 performance and placement of its properties under construction into service, MPW expects to enter 2013 with a Normalized FFO run rate of approximately $1.08 per diluted share. This does not include the impact of any potential 2013 acquisitions or financing activities.  This is an increase of 22.81% next year compared to 2012.

MPW has an equity summary score of 8.6 out of 10 for a Bullish outlook.  Based on a PE of 14, MPW has a 12-month price target of $15.

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