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Medical Properties Trust (NYSE:MPW) edged down virtually 1% in after-hours buying and selling a report that the REIT’s largest tenant,Steward Health Care System, employed restructuring advisers.
Steward has engaged regulation agency Weil Gotshal & Manges and turnaround consulting agency AlixPartners to guage choices for its enterprise, in accordance to a WSJ report on Thursday, which cited folks accustomed to the matter.
Medical Properties Trust (MPW) plunged 29% on Jan. 5 after the REIT mentioned it had taken steps to get well uncollected rents from troubled tenant Steward Health Care System. MPW is making an attempt to cut back its publicity to Steward, which lately advised MPW that its liquidity has been adversely impacted by vital modifications to distributors’ cost phrases.
In a bid to enhance its liquidity and restore its stability sheet, Steward is pursuing a number of strategic transactions, together with the potential sale or re-tenanting of sure hospital operations in addition to the divestiture of non-core operations.
Medical Properties Trust (MPW) brief curiosity is 26%.