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You may wish to research that FDA approval part.
Yes, it’s a move up. 1 to 3 is an acknowledgement of a accepted medical use. And thru that can be dispensed by prescription. However, we still need the FDA {as discussed here before and what I think will be the biggest hurtle} approval. Currently and as reported, marijuana that’s available in state markets is unlikely to meet the agency’s standards for widespread approval. Think policy, procedure, regulation, product testing and on and on to conform. Ways to go on that. You also mentioned up listing, currently does not qualify , would need to become de-scheduled, currently still illegal FED wise under Sch 3.
Yes I read a report that the DEA may have their release soon. I believe if c positive, they will then move to the 60 day discuss/comment period. Way past due.
nothing going on till the gov. makes a few moves is all.
Yes, but it's the same out look they been giving for a while now.
"The Company's financial operating results and accumulated deficit, besides other factors, raise substantial doubt about the Company's ability to continue as a going concern. The Company will continue to pursue the actions outlined above, as well as work towards increasing revenue and operating cash flows to meet its future liquidity requirements. However, there can be no assurance that the Company will be successful in any capital-raising efforts that it may undertake, and the failure of the Company to raise additional capital could adversely affect its future operations and viability
Yes it was. Got pushed pretty good by the shorts and option players.
Still waiting for the powers that be to take some action. Hard to believe were in 2024 still waiting on what should have been pushed thru in 2022.
Peaked over 5 today. Div coming up. PR earning coming up. CC coming up.
Thats a good breakdown. Still waiting on the gov to kick it in gear.
Well, I don’t know the reason. But your right, about noon time it started to fade. All the weed stocks followed suit. MSOS was the one that triggered my watch. But TCNNF and others I have quicky triggered as well. In looking at the 1 min and 10 min scales for the day, TCNNF rose in the last, we’ll call it 10 min on 276k in shares. Somebody wanted in at the end of the day besides me. Didn’t buy a whole lot, I didn’t add on the FL ballot passage so I took the opportunity. But it doesn’t matter a lot, this is not going to be the low for the year, by the same token we haven’t seen the high yet either.
Going to add a little at the end here today. We'll see
I agree, it certainly looks better on the weekly. And you are also correct to see how it all plays.
We'll have to see how that double top plays. That would be IMO.
A little more color on that . From the sec filing. -- MEDICAL PROPERTIES TRUST PROVIDES UPDATE ON STEWARD HEALTH CARE
Birmingham, AL – January 4, 2024 – Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced plans to accelerate its efforts to recover uncollected rents and outstanding loan obligations from Steward Health Care System (“Steward”) and related processes designed to significantly reduce its exposure to Steward.
As disclosed in the Company’s third quarter 2023 Form 10-Q, Steward delayed paying a portion of its September and October rent to MPT. Despite its obtaining additional working capital financing and selling its non-core laboratory business in the fourth quarter of 2023, Steward recently informed MPT that its liquidity has been negatively impacted by significant changes to vendors’ payment terms. As a result, Steward has continued to make partial monthly rent payments, and total unpaid rent under its consolidated master lease with MPT is approximately $50 million as of December 31, 2023 (exclusive of approximately $50 million that was previously deferred and not currently payable related to the Norwood Hospital, which is under reconstruction).
MPT has engaged Alvarez & Marsal Securities, LLC (“A&M”) as its financial advisor and KTBS Law, LLP and Baker, Donelson, Bearman, Caldwell & Berkowitz, PC as legal advisors to advise the Company on its options to enable the recovery of uncollected rent and outstanding loans. MPT’s management team and advisors have worked closely with Steward and its own advisors to develop an action plan which, if successful, is designed to strengthen Steward’s liquidity and restore its balance sheet, optimize MPT’s ability to recover unpaid rent, and ultimately reduce MPT’s exposure to Steward.
As part of this plan, Steward is pursuing several strategic transactions, including the potential sale or re-tenanting of certain hospital operations as well as the divestiture of non-core operations. Further, Steward has committed to seeking a third-party capital partner for its managed care business, net proceeds from which will be used in part to repay all outstanding obligations to MPT. Steward has also intensified measures to improve collections and overall governance, including establishment of a transformation committee comprised of newly appointed independent directors and submission of periodic cash activity and asset sale progress reports to MPT and its ABL lenders.
To protect the value of MPT’s assets and hospital operations while Steward executes on its strategic plan, MPT has agreed to fund a new $60 million bridge loan secured by all MPT’s existing collateral plus new second liens on Steward’s managed care business, subordinate only to Steward’s ABL lenders. A portion of MPT’s existing approximately $215 million of transaction-specific and working capital loans to Steward will now also be secured by these same second liens on the managed care platform. The Company has also consented to the deferral of unpaid rent under the consolidated master lease as of December 31, 2023, as well as a limited and tapering deferral of approximately $55 million of 2024 rents, until the earlier of June 30, 2024 or the completion of anticipated asset sales. Partial cash rent payments are expected to recommence in February, including approximately $9 million in the first quarter and approximately $44 million in the second quarter of 2024.
There can be no assurance that Steward will successfully execute its plans or that the Company will recover all of its deferred rent and loans outstanding to Steward. As a result, MPT cannot be assured that Steward will make all scheduled lease payments throughout the remaining approximate 22-year fully extended term of its master lease. Accordingly, pursuant to generally accepted accounting principles, the Company expects to record a non-cash charge in the fourth quarter of 2023 to write off consolidated straight-line rent receivables of approximately $225 million, its approximately $25 million share of straight-line rent receivables related to the unconsolidated Massachusetts partnership and consolidated unpaid rent receivables of approximately $100 million (which includes the previously referenced $50 million related to the Norwood development). Furthermore, MPT routinely evaluates for indications of impairments to its real estate and other investments, including those related to Steward. Such evaluations are ongoing as of December 31, 2023, and no assurances can be provided that further impairment of real estate and non-real estate assets will not be taken with MPT’s fourth quarter 2023 reporting.
Importantly, MPT’s non-Steward portfolio continues to generate robust revenue as demonstrated in the table below, which separates Steward’s third quarter 2023 GAAP revenue from the remainder of the Company’s portfolio:
and a follow up -- As announced in early January, MPT has worked with Steward to develop an action plan designed to strengthen Steward’s liquidity and restore its balance sheet, optimize MPT’s ability to recover unpaid rent and ultimately reduce MPT’s exposure to Steward. MPT and certain of Steward’s asset backed lenders are negotiating a new bridge facility whereby it is expected, but there is no assurance, that each party will fund an initial $37.5 million to Steward, based on its achievement of certain milestones previously established in January. MPT has already funded $20 million of such amount. Any subsequent loan fundings would be contingent on Steward achieving further significant milestones that optimize the amount and timing of recoveries for MPT and Steward’s ABL lenders.
The dividend has not been ruled out. The company stated the board will get together some time this month and make that decision.
If they do manage to sell some meaningful property, several for that matter and soon, they could break the stranglehold the shorts have on this one. The 1st qt will come to an end in a couple of weeks. When that qt filing comes out, I suspect another heavy write down / write off, due to some of the tenants not being able to fully pay in the first qt
The dividend has not paid so far in the 1st qt. There was a mention by the company that they are hoping to sell some of their proprieties and then the board will meet to decide
I hope they do, as a REIT goes most people invest because of that dividend.
There is currently 196 million shares short. Roughly 1/3 of all shares.
The debt load on this company is $10 billion. They have 1 billion 58 million due in 2024. 1.8 billion due in 2025. 3.5 billion due in 2026. 1.8 billion due in 2027.
They have total revenue in 2023 of 871 million. However, after expenses they managed to lose 556 million for the year.
This likely means they will be forced to sell even more of their properties to pay off the some /all of that debt load.
All numbers taken from the 10K
The latest report -yearend 4th qt report from Feb.
Here is how Medical Properties performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Interest and other income: -$53.45 million versus $26.31 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -228.2% change.
Revenues- Income from financing leases: $19.41 million versus $18.76 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -60.3% change.
Revenues- Rent billed: $78.42 million compared to the $187.14 million average estimate based on three analysts. The reported number represents a change of -66.2% year over year.
Revenues- Straight-line rent: -$166.77 million versus the two-analyst average estimate of -$63.78 million. The reported number represents a year-over-year change of -387.3%.
Net Earnings Per Share (Diluted): -$1.11 versus the five-analyst average estimate of -$0.43.
A little more color on what you listed. -- Cannabis stocks spike as VP Kamala Harris urges immediate rescheduling
Mar. 15, 2024 2:58 PM ETCuraleaf Holdings, Inc. (CURLF) Stock, AYRWF Stock, ACRHF Stock, TCNNF Stock, CURA:CA StockCGC, ACB, OGI, MJ, CRON, TSNDF, MMNFF, GTBIF, TLRY, CRLBF, YOLO, SNDL, CNBS, MSOS, FLGCBy: Dulan Lokuwithana, SA News Editor120 Comments
Marijuana stocks, led by U.S. Multi-State Operators, gained on Friday after Vice President Kamala Harris urged the Drug Enforcement Administration (DEA) to immediately reschedule cannabis to a lower-risk category, indicating the U.S. government’s latest attempt to back the move.
During a meeting with cannabis pardon recipients at the White House on Friday, Harris said it was “absurd” and “patently unfair” that cannabis is classified in the Schedule I category alongside heroin under the Controlled Substances Act (CSA).
“I cannot emphasize enough that they need to get to it as quickly as possible,” Marijuana Moment reported, quoting Harris, who was referring to the ongoing DEA review on cannabis scheduling.
“This issue is stark when one considers the fact that on the schedule currently, marijuana is considered as dangerous as heroin," Haris noted.
"Marijuana is considered as dangerous as heroin and more dangerous than fentanyl,” she said, adding, “Which is absurd. Not to mention patently unfair.”
U.S. MSOs Curaleaf Holdings (OTCPK:CURLF), Ayr Wellness (OTCQX:AYRWF), Acreage Holdings (OTCQX:ACRHF), Trulieve Cannabis (OTCQX:TCNNF), and Cresco Labs (OTCQX:CRLBF), along with industry benchmark AdvisorShares Pure US Cannabis (MSOS), traded higher as she delivered the remarks.
Other cannabis stocks that indicate strong gains include MedMen Enterprises (OTC:MMNFF), Green Thumb Industries (OTCQX:GTBIF), TerrAscend (OTCQX:TSNDF), and Flora Growth (FLGC).
Canadian Licensed Producers, Canopy Growth (CGC), Tilray (TLRY), Cronos (CRON), Aurora Cannabis (ACB), SNDL Inc. (SNDL), and OrganiGram Holdings (OGI) are also in the green.
Cannabis ETFs: AdvisorShares Pure Cannabis ETF (YOLO), ETFMG Alternative Harvest ETF (MJ), and Amplify Seymour Cannabis ETF (CNBS)
Harris is the latest member of the Biden administration to offer support for cannabis rescheduling. At a congressional hearing on Thursday, Health and Human Services (HHS) Secretary Xavier Becerra defended his department’s recommendation to reschedule marijuana in August.
FYI _ 40F report from the 13th -
https://www.sec.gov/ixviewer-plus/ix.xhtml?doc=/Archives/edgar/data/0001847462/000110465924033746/ayr-20231231x40f.htm
FYI - MIAMI, March 15, 2024 /CNW/ - Mercer Park CB, L.P. has filed an early warning report related to its ownership interests and those of Jonathan Sandelman, the Executive Chair of Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) ("AYR" or the "Company"), a leading vertically integrated U.S. multi-state cannabis operator. https://finance.yahoo.com/news/mercer-park-cb-l-p-021300679.html
This may provide the management a little get up and go. From the SEC filings - On March 8, 2024 (the “Grant Date”), the Compensation Committee (the “Committee”) of the Board of Directors of Medical Properties Trust, Inc. (the “Company”) granted performance-based restricted stock unit awards (the “Awards”) to Edward K. Aldag, Jr. and R. Steven Hamner, the Company’s Chief Executive Officer and Chief Financial Officer, respectively, covering an aggregate of 2,700,000 restricted stock units (the “RSUs”) at the target level of achievement. The RSUs may be settled only in cash and the cash payment will be calculated based on the average closing price of the Company’s common stock on the five trading days ending on the vesting date. The Awards were granted under the Company’s Amended and Restated 2019 Equity Incentive Plan (the “2019 Plan”) and will be eligible to vest only if the Company’s share price reaches certain appreciation hurdles, as follows:
Stock Price Hurdle
Percentage of Target RSUs Earned
$7.00 (67% increase above the Grant
Date stock price)
100%
$8.50 (103% increase above the Grant
Date stock price)
200%
$10.00 (139% increase above the Grant
Date stock price)
300%
The purpose of the Awards is to motivate and retain these key executives to help execute the Company’s strategic business plan and restore shareholder value. In determining the appropriateness of granting, and the structure of, the Awards, the Committee was advised by its independent compensation consultant.
The actual number of RSUs to be earned pursuant to the Awards will be determined based on the trailing 20-trading day average closing price of the Company’s common stock during the four-year period ending on December 31, 2027 (the “Performance Period”). Earned RSUs will become vested on the earlier of equal quarterly installments over the first year from the date the RSUs are earned or the date that the Committee makes a determination of achievement of the performance metrics following the end of the four-year Performance Period, subject to the grantee’s continued employment through such date.
A copy of the form of award agreement for the Awards is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing description of the terms of the Awards is qualified in its entirety by reference to the full text of such form of award agreement.
I think you meant 52 a share as the high. Going to take alot of work to get to 200. Part of which would have to be going to the big board. Anyway
Yes, it was a very nice day. I agree on the roundtable
Well, yeah, sums it up pretty well. It’s tough trying to make investments based on what the government will do/ allow. Even more so on a FED illegal product. Still holding smaller amounts on 5 in this sector, but I won’t be adding until I have clarity on what will be. Yes, the markets have been humming since Nov. But they do look like they need a break on the overall. Mar/Apr are always troublesome for me anyway.
I hear what you are saying. Not much going on. Safer appears to be off the table for now. Sch 1 to Sch 3 is coming at some point but it will require a 60-day comment period and then more delay while they sort it out. IMO be careful on the DEA report, make sure you understand the EXACT wording and what it means. Still holding smaller amounts in 5 companies in this sector. And I have put aside enough to buy 10 times what I hold. It’s just an equity play and we’ll play it as it comes.
Well, added some more near the close. Hoping for some good info in the next SEC filing.
I am a little disappointed that even with the tax ruling they still could not turn a profit.
Not a lot of staying power today. Need some follow thru good news items to get to the next level.
The numbers were as good as can be expected at this stage. Still likely a long way to go.
A lot of the same talk. Still it's something. In that write up "The 2018 version was set to expire at the end of last year, but it was extended under a bill President Joe Biden signed". That is correct, the question is are they going to extend again?