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Medical Properties (MPW) Stock Jumps 5.7%: Will It Continue to Soar?
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Medical Properties (MPW - Free Report) shares ended the last trading session 5.7% higher at $10.98. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 30.9% loss over the past four weeks.
The increased optimism in the stock comes after the company’s board of directors authorized the repurchase of up to $500 million of its outstanding common stock before October 2023.
Additionally, on Oct 6, 2022, MPW announced that it entered into definitive agreements to dispose of three Connecticut hospitals to Prospect Medical Holdings, the current lessee, for around $457 million. MPW intends to utilize the proceeds from the sale to reduce debt and to fund the select acquisition and other investment opportunities.
This health care real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.45 per share in its upcoming report, which represents a year-over-year change of +2.3%. Revenues are expected to be $390.93 million, up 0% 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 marginally 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 belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Healthpeak , closed the last trading session 2.7% higher at $22.20. Over the past month, PEAK has returned -21.5%.
For Healthpeak, the consensus FFO per share estimate for the upcoming report has changed +0.4% over the past month to $0.43. This represents a change of +7.5% from what the company reported a year ago. Healthpeak currently has a Zacks Rank of #3 (Hold).
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Medical Properties (MPW) Stock Jumps 5.7%: Will It Continue to Soar?
Medical Properties (MPW - Free Report) shares ended the last trading session 5.7% higher at $10.98. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 30.9% loss over the past four weeks.
The increased optimism in the stock comes after the company’s board of directors authorized the repurchase of up to $500 million of its outstanding common stock before October 2023.
Additionally, on Oct 6, 2022, MPW announced that it entered into definitive agreements to dispose of three Connecticut hospitals to Prospect Medical Holdings, the current lessee, for around $457 million. MPW intends to utilize the proceeds from the sale to reduce debt and to fund the select acquisition and other investment opportunities.
This health care real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.45 per share in its upcoming report, which represents a year-over-year change of +2.3%. Revenues are expected to be $390.93 million, up 0% 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 marginally 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 belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Healthpeak , closed the last trading session 2.7% higher at $22.20. Over the past month, PEAK has returned -21.5%.
For Healthpeak, the consensus FFO per share estimate for the upcoming report has changed +0.4% over the past month to $0.43. This represents a change of +7.5% from what the company reported a year ago. Healthpeak currently has a Zacks Rank of #3 (Hold).