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Posts Tagged ‘hospital investments’

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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