Medical Properties Trust Stock Surges on Positive News

Medical Properties Trust stock surged 18.8% after announcing the sale of its interests in five Utah hospitals to a joint venture for $886 million, generating a total of $1.1 billion in cash proceeds. The company plans to use the funds to reduce debt, including payment of a $300 million Australian term loan due this year and repayment of borrowings. This move follows recent asset divestments in California and New Jersey, as well as a deal by its largest tenant, Steward Health Care, to divest its physician network. Investors are optimistic about the company's efforts to improve its financial position and the potential for long-term value.