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Medical Properties (MPW) Moves 16.2% Higher: Will This Strength Last?
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Medical Properties (MPW - Free Report) shares soared 16.2% in the last trading session to close at $5.60. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to its recent announcement of reaching an agreement with Steward Health Care System, its secured lenders and the Unsecured Creditors Committee. This agreement reinstates MPW’s control over its real estate, terminates its relationship with Steward and also enables the immediate transition of operations at 15 hospitals in the country. The settlement agreement comprises 23 hospitals that were formerly operated by Steward.
This health care real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.21 per share in its upcoming report, which represents a year-over-year change of -44.7%. Revenues are expected to be $265.97 million, down 13.3% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Medical Properties, the consensus FFO per share estimate for the quarter has been revised 3.4% lower over the last 30 days to the current level. And a negative trend in FFO estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on MPW going forward to see if this recent jump can turn into more strength down the road.
Medical Properties is part of the Zacks REIT and Equity Trust - Other industry. Kilroy Realty (KRC - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $35.18. KRC has returned 5% in the past month.
For Kilroy Realty, the consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $1.04. This represents a change of -7.1% from what the company reported a year ago. Kilroy Realty currently has a Zacks Rank of #3 (Hold).
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Medical Properties (MPW) Moves 16.2% Higher: Will This Strength Last?
Medical Properties (MPW - Free Report) shares soared 16.2% in the last trading session to close at $5.60. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to its recent announcement of reaching an agreement with Steward Health Care System, its secured lenders and the Unsecured Creditors Committee. This agreement reinstates MPW’s control over its real estate, terminates its relationship with Steward and also enables the immediate transition of operations at 15 hospitals in the country. The settlement agreement comprises 23 hospitals that were formerly operated by Steward.
This health care real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.21 per share in its upcoming report, which represents a year-over-year change of -44.7%. Revenues are expected to be $265.97 million, down 13.3% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Medical Properties, the consensus FFO per share estimate for the quarter has been revised 3.4% lower over the last 30 days to the current level. And a negative trend in FFO estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on MPW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Medical Properties is part of the Zacks REIT and Equity Trust - Other industry. Kilroy Realty (KRC - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $35.18. KRC has returned 5% in the past month.
For Kilroy Realty, the consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $1.04. This represents a change of -7.1% from what the company reported a year ago. Kilroy Realty currently has a Zacks Rank of #3 (Hold).