Core Insights - Medical Properties Trust (NYSE: MPW) has faced significant challenges, including bankruptcies of two major tenants, which adversely affected rental income during a period of rising interest rates, complicating debt refinancing efforts [1][4] - The company has successfully improved its tenant base and financial profile, leading to a 12% increase in its dividend, raising the yield to 7%, significantly higher than the S&P 500's 1.2% [2][6] - The REIT has taken proactive measures, such as selling properties to reduce debt, replacing bankrupt tenants with financially stable operators, and securing new financing, which has bolstered its financial standing [4][6] Financial Adjustments - Medical Properties Trust reduced its dividend from $0.29 to $0.08 per share in previous years to conserve cash for debt repayment [5] - The REIT has raised several billion dollars in new capital over the past year, which has strengthened its financial profile and allowed for a dividend increase to $0.09 per share [6] Tenant and Rental Income Developments - The REIT has replaced bankrupt tenants with new operators, who are gradually increasing rental payments, with a group of five tenants expected to stabilize at $160 million in annualized rent by the end of 2026 [7][8] - The new tenants began paying rent at a low initial rate, which will escalate quarterly, reaching 50% of the fully stabilized rate by the end of this year [7]