Medical Properties Trust: Shares Deserve To Trade Far Higher If Economic Conditions Clear Up

  • Despite recent operational challenges and tenant issues, MPW shares remain deeply undervalued, trading at a significant discount to book value. Management is optimistic about future rent growth and asset re-tenanting, projecting $1 billion in annualized cash rent by end of 2026. Risks remain high due to leverage and ongoing legal and tenant uncertainties, justifying some discount but not to the current extreme.