Medical Properties Trust, Inc (MPW) has reported 17.34 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $67.97 million, or $0.21 a share in the quarter, compared with $57.93 million, or $0.24 a share for the same period last year. Revenue during the quarter grew 15.85 percent to $156.40 million from $135 million in the previous year period.
Cost of revenue surged 47.39 percent or $0.43 million during the quarter to $1.33 million. Gross margin for the quarter contracted 18 basis points over the previous year period to 99.15 percent.
Total expenses were $44.87 million for the quarter, up 38.27 percent or $12.42 million from year-ago period. Operating margin for the quarter contracted 465 basis points over the previous year period to 71.31 percent.
Operating income for the quarter was $111.53 million, compared with $102.55 million in the previous year period.
Revenue from real estate activities during the quarter increased 23.26 percent or $21.63 million to $114.64 million.
Income from operating leases during the quarter dropped 5.65 percent or $1.07 million to $17.88 million.
Revenue from other real estate activities during the quarter was $96.76 million, up 30.65 percent or $22.70 million from year-ago period.
Other income during the quarter was $28.98 million, down 14.20 percent or $4.80 million from year-ago period.
In addition to its outstanding results of operations and investment activities, the Company described its outlook for near-term accretive acquisitions. “With our successful equity offering last week, we are positioned to substantially increase our acquisition activity beyond our prior guidance of $1.0 billion in 2017,” said Edward K. Aldag, Jr., MPT’s Chairman, President and Chief Executive Officer. “We have already closed and committed to close on almost $450 million of our initial 2017 estimates in very high quality hospital assets, and our sector-leading balance sheet strength gives us capacity to add as much as another $1.5 billion while maintaining our very low leverage target of 5.5 times net debt to EBITDA.”
Receivables remain almost stable
Net receivables stood at $191.79 million as on Mar. 31, 2017. Investments stood at $5,669.73 million as on Mar. 31, 2017.
Total assets stood at $6,780.73million as on Mar. 31, 2017. On the other hand, total liabilities were at $3,524.16 million as on Mar. 31, 2017.
Return on assets was at 1.57 percent in the quarter. At the same time, return on equity was at 2.09 percent in the quarter.
Total debt was at $3,277.99 million as on Mar. 31, 2017. Shareholders equity was at $3,256.57 million as on Mar. 31, 2017. Meanwhile, debt to equity ratio was at 1.01 percent in the quarter.
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