10 Biggest Dividend Cuts and Suspensions of 2024

6. Medical Properties Trust, Inc. (NYSE:MPW)

Number of Hedge Fund Holders: 21

Medical Properties Trust, Inc. (NYSE:MPW) is an American real estate investment trust company that mainly invests in healthcare facilities subject to NNN leases. In August, the company reduced its dividend by 46.7% due to challenges involving its tenants, notably Steward Health, which filed for bankruptcy protection. The stock has declined by nearly 24% in 2024 so far.

Medical Properties Trust, Inc. (NYSE:MPW) disappointed investors with its third-quarter earnings performance. The company posted revenue of $225.8 million in Q3 2024, which fell by over 26.3% from the same period last year. However, at the end of the quarter, it holds total assets valued at around $15.2 billion, which include $9.4 billion in general acute care facilities, $2.5 billion in behavioral health facilities, and $1.7 billion in post-acute care facilities. As of September 30, 2024, the company’s portfolio comprised 402 properties with approximately 40,000 licensed beds, leased or mortgaged by 55 hospital operating companies.

In addition, following a recent global settlement and the dedicated efforts of its team, Medical Properties Trust, Inc. (NYSE:MPW) successfully re-tenanted 17 Steward hospitals across five states, ensuring uninterrupted patient care while restoring the associated annual cash flows. With Steward now removed from the portfolio, the company aims to highlight the strength and resilience of its diversified hospital real estate portfolio and underscore the critical role its business model plays in addressing the healthcare industry’s growing need for capital solutions.

Medical Properties Trust, Inc. (NYSE:MPW) offers a quarterly dividend of $0.08 per share and has a dividend yield of 8.29%, as of December 22.

Insider Monkey’s database of Q3 2024 indicated that 21 hedge funds held stakes in Medical Properties Trust, Inc. (NYSE:MPW), up from 19 in the previous quarter. With 6 million shares, worth over $35 million, Silver Point Capital was the company’s largest stakeholder in Q3.