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Medical Properties Trust, Inc.
Staff Correspondent · February 19, 2026
Medical Properties Trust, Inc. (NYSE: MPT), one of the world’s largest owners of hospital real estate, reported a return to profitability for the fourth quarter of 2025, driven by the nearly complete resolution of its exposure to the bankruptcy of a major tenant.
The Birmingham-based real estate investment trust (REIT) posted net income of $17 million, or $0.03 per diluted share, for the quarter ended Dec. 31, 2025. This marks a significant recovery from a net loss of $413 million, or $0.69 per share, in the same period a year earlier. For the full year 2025, the company reported a net loss of $277 million, or $0.46 per share.
Prospect Bankruptcy Resolution: MPT announced it has “almost entirely resolved” its exposure to Prospect Medical Holdings’ court restructuring process. The company entered into a new 15-year lease for six California hospitals previously operated by Prospect, which is expected to generate $45 million in annual cash rent by December 2026.
Vibra Healthcare Restructuring: The company completed a restructuring with Vibra Healthcare, resulting in a new 20-year master lease and a one-time $18 million rent payment for past obligations recognized in Q4.
Normalized FFO: Normalized Funds from Operations (NFFO) for the quarter was $107 million, or $0.18 per share, consistent with the fourth quarter of 2024.
Portfolio Strength: Total assets stood at approximately $15 billion as of year-end, encompassing 384 properties across nine countries.
