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Crown Castle Inc. (CCI) - free report >>
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Medical Properties Trust Acquires Interests in 9 Hospitals
Medical Properties Trust Inc. (MPW - Free Report) , the Birmingham, AL-based real estate investment trust (“REIT”) has made the announcement of closing the earlier announced acquisition of property interests in nine acute care hospitals operated by the Boston-based Steward Health Care System LLC. It also acquired an equity interest in Steward for $1.25 billion. Per the deal, some members of Steward management and affiliates of New York-based private equity firm, Cerberus Capital Management have committed to acquire 10,344,828 common shares of the REIT.
Medical Properties Trust aims at capitalizing on the changing trends in healthcare delivery system through acquisition and development of net-leased healthcare facilities. The REIT funded the acquisitions through the proceeds generated from its recent 57.5 million public offering of common shares and from borrowings through its revolving credit facility.
Medical Properties Trust currently has a Zacks Rank #3 (Hold).
MEDICAL PPTYS Price
MEDICAL PPTYS Price | MEDICAL PPTYS Quote
Some better-ranked stocks in the same space include CorEnergy Infrastructure Trust, Inc. , Crown Castle International Corp. (CCI - Free Report) and Seritage Growth Properties (SRG - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Current-quarter estimates for both Crown Castle International and Seritage Growth Properties moved up over the past one month.
CorEnergy Infrastructure Trust’s current-quarter estimates remained stable over the last month.
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