Medical Properties Trust (MPW) has reported 26.10 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $43.04 million, or $0.13 a share in the quarter, compared with $58.24 million, or $0.24 a share for the same period last year. Revenue during the quarter grew 16.52 percent to $153.28 million from $131.55 million in the previous year period.
Cost of revenue dropped 5.41 percent or $0.06 million during the quarter to $1.12 million. Gross margin for the quarter expanded 17 basis points over the previous year period to 99.27 percent.
Total expenses were $80.56 million for the quarter, up 117.84 percent or $43.58 million from year-ago period. Operating margin for the quarter contracted 2444 basis points over the previous year period to 47.44 percent.
Operating income for the quarter was $72.72 million, compared with $94.56 million in the previous year period.
Revenue from real estate activities during the quarter increased 23.70 percent or $21.07 million to $109.99 million.
Income from operating leases during the quarter dropped 8.22 percent or $1.53 million to $17.13 million.
Revenue from other real estate activities during the quarter was $92.86 million, up 32.18 percent or $22.61 million from year-ago period.
Other income during the quarter was $28.74 million, down 16.12 percent or $5.52 million from year-ago period.
"In 2016 and through the early days of 2017, MPT achieved all of the operational goals we set early in the year," said Edward K. Aldag, Jr., MPTs chairman, president and chief executive officer. "We successfully and profitably repositioned our portfolio by capturing sizable gains from asset sales in the first half and allocating capital to compelling new opportunities in the second half. The approximate $800 million in asset sales, and our solid execution in the capital markets, helped to significantly strengthen our balance sheet, reduce leverage, improve liquidity, and position the company for long-term growth.
Net receivables were at $174.56 million as on Dec. 31, 2016, up 35.22 percent or $45.46 million from year-ago.
Investments stood at $5,701.24 million as on Dec. 31, 2016, up 28.86 percent or $1,276.89 million from year-ago.
Total assets grew 14.43 percent or $809.19 million to $6,418.54 million on Dec. 31, 2016. On the other hand, total liabilities were at $3,165.31 million as on Dec. 31, 2016, down 9.62 percent or $336.78 million from year-ago.
Return on assets moved down 41 basis points to 1.27 percent in the quarter. At the same time, return on equity moved down 144 basis points to 1.32 percent in the quarter.
Debt comes down
Total debt was at $2,909.34 million as on Dec. 31, 2016, down 12.44 percent or $413.20 million from year-ago. Shareholders equity stood at $3,253.23 million as on Dec. 31, 2016, up 54.38 percent or $1,145.96 million from year-ago. As a result, debt to equity ratio went down 68 basis points to 0.89 percent in the quarter. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
