Medical Properties: 47% Dividend Cut, What Now

Richard Drury Medical Properties Trust (NYSE:MPW) reported second-quarter funds from operations of $0.23 per-share that met expectations, but the hospital REIT also agreed as part of its credit facility negotiations to limit the dividend to $0.08 per-share quarterly going forward. Since the REIT paid $0.15 per-share as recently as July, investor are headed for a 47% dividend cut. While the dividend cut was not the greatest news, the hospital REIT did make considerable progress in tems of selling assets (and ...