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Medical Properties Trust Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 9, 2011 03:25PM
Medical Properties Trust Inc. (MPW) filed Quarterly Report for the period ended 2011-09-30.
Highlight of Business Operations:Refer to our 2010 Annual Report on Form 10-K, as amended, along with our subsequently filed Form 10-Qs in 2011, for a discussion of our critical accounting policies, which include revenue recognition, investment in real estate, purchase price allocation, loans, losses from rent receivables, stock-based compensation, exchangeable senior notes, and our accounting policy on consolidation. During the three months ended September 30, 2011, there were no material changes to these policies.
Base rents for the 2011 third quarter increased 31.3% versus the prior year as a result of the additional rent generated from annual escalation provisions in our leases and incremental revenue from the properties acquired in late 2010 and 2011. Straight-line rent is higher than the prior year primarily due to the $2.5 million and $0.2 million write-off/reserve of straight-line rent receivables associated with our Monroe and Cleveland facility, respectively, in 2010. Interest from loans is lower than the prior year due to the repayment of the $43 million mortgage loan on the Centinela property in 2010.
Stocks Discussed: MPW,