James Kevin Hanna, Senior Vice President, Controller and Chief Accounting Officer at Belief Medical Properties Inc . (NYSE:), not too long ago bought 11,641 shares of the corporate’s widespread inventory. The transaction, which passed off on December 26, was executed at a worth of $3.72 per share, for a complete of $43,304. Following this sale, Hanna retains possession of 366,913 shares of the corporate. In response to a footnote within the submitting, the sale was a part of Hanna’s year-end tax planning, with the intention of probably repurchasing the shares, relying on market situations and compliance with legal guidelines and insurance policies. of the corporate in power. InvestPro The evaluation signifies that the inventory is buying and selling at a low price-to-book a number of of 0.42, with further data obtainable in Professional Analysis’s full report overlaying MPW amongst greater than 1,400 U.S. shares.
Individually, Medical Properties Belief reported a number of necessary developments. The corporate reported a GAAP web lack of $1.34 per share for the third quarter of 2024, whereas its normalized funds from operations got here in at $0.16 per share. In a strategic transfer, Medical Properties Belief has entered right into a definitive settlement with Astrana Well being for a transaction valued at roughly $745 million, together with the sale of the vast majority of Prospect’s managed care platform.
The corporate expects to generate roughly $200 million in money proceeds after settling debt and different liabilities, with the vast majority of money proceeds anticipated within the first half of 2025. Truist Securities has revised its worth goal on shares of Medical Properties Belief at $4.00, now holding a score on the inventory, and highlighting vital maturities and a excessive price of capital.
Medical Properties Belief additionally settled a defamation lawsuit with Viceroy Analysis, though particulars of the settlement weren’t disclosed. These latest developments come in opposition to a backdrop of disappointing capital allocation and danger administration practices throughout the firm, in addition to a big quantity of debt coming due. Buyers ought to carefully monitor the progress of the not too long ago transferred Steward Hospitals and the way successfully administration can recapitalize the corporate.
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