v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ 30,819 $ (216,084)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 146,973 133,669
Amortization of deferred financing costs and debt discount 13,548 12,502
Straight-line rent revenue from operating and finance leases (70,285) (82,758)
Stock / Unit-based compensation expense 5,434 18,522
Gain on sale of real estate (5,672) (13,271)
Real estate and other impairment charges, net 36,435 81,479
Debt refinancing and unutilized financing costs 0 3,615
Tax rate changes and other (45,155) 1,121
Non-cash fair value adjustments 5,474 156,843
Other adjustments (9,334) (26,722)
Changes in:    
Interest and rent receivables 711 4,565
Other assets (2,281) (3,301)
Accounts payable and accrued expenses (56,671) (11,878)
Deferred revenue (1,811) (6,171)
Net cash provided by operating activities 48,185 52,131
Investing activities    
Cash paid for acquisitions and other related investments (29,322) (102,329)
Net proceeds from sale of real estate 18,900 47,918
Proceeds received from repayment of loans receivable 62,895 3,000
Investment in loans receivable (146,001) (52,435)
Construction in progress and other (20,188) (40,623)
Capital additions and other investments, net (45,388) (17,265)
Net cash used for investing activities (159,104) (161,734)
Financing activities    
Proceeds from term debt 0 2,512,970
Payments of term debt 0 (2,252,731)
Revolving credit facility, net 85,000 156,530
Dividends / Distribution paid (109,606) (96,548)
Lease deposits and other obligations to tenants 3,919 1,970
Offering costs (176) (101)
Stock / Unit vesting - satisfaction of tax withholdings (2,776) (745)
Repurchase of common stock / unit (6,123) 0
Payment of debt refinancing and deferred financing costs and other financing activities (1,766) (49,822)
Net cash (used for) provided by financing activities (31,528) 271,523
(Decrease) increase in cash, cash equivalents, and restricted cash for period (142,447) 161,920
Effect of exchange rate changes (2,120) 15,815
Cash, cash equivalents, and restricted cash at beginning of period 543,995 335,173
Cash, cash equivalents, and restricted cash at end of period 399,428 512,908
Interest paid 279,508 220,281
Supplemental schedule of non-cash investing activities:    
Real estate and other assets provided in property exchange 158,706 0
Real estate acquired in property exchange 165,500 0
Supplemental schedule of non-cash financing activities:    
Dividends / Distributions declared, unpaid 54,182 48,292
Cash, cash equivalents, and restricted cash are comprised of the following:    
Cash and cash equivalents at beginning of period 540,859 332,335
Restricted cash, included in Other assets at beginning of period $ 3,136 $ 2,838
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets
Cash, cash equivalents, and restricted cash at beginning of period $ 543,995 $ 335,173
Cash and cash equivalents at end of period 396,558 509,828
Restricted cash, included in Other assets at end of period $ 2,870 $ 3,080
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets
Cash, cash equivalents, and restricted cash at end of period $ 399,428 $ 512,908
MPT Operating Partnership, L.P. [Member]    
Operating activities    
Net income (loss) 30,819 (216,084)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 146,973 133,669
Amortization of deferred financing costs and debt discount 13,548 12,502
Straight-line rent revenue and other (70,285) (82,758)
Stock / Unit-based compensation expense 5,434 18,522
Gain on sale of real estate (5,672) (13,271)
Real estate and other impairment charges, net 36,435 81,479
Debt refinancing and unutilized financing costs 0 3,615
Tax rate changes and other (45,155) 1,121
Non-cash fair value adjustments 5,474 156,843
Other adjustments (9,334) (26,722)
Changes in:    
Interest and rent receivables 711 4,565
Other assets (2,281) (3,301)
Accounts payable and accrued expenses (56,671) (11,878)
Deferred revenue (1,811) (6,171)
Net cash provided by operating activities 48,185 52,131
Investing activities    
Cash paid for acquisitions and other related investments (29,322) (102,329)
Net proceeds from sale of real estate 18,900 47,918
Proceeds received from repayment of loans receivable 62,895 3,000
Investment in loans receivable (146,001) (52,435)
Construction in progress and other (20,188) (40,623)
Capital additions and other investments, net (45,388) (17,265)
Net cash used for investing activities (159,104) (161,734)
Financing activities    
Proceeds from term debt 0 2,512,970
Payments of term debt 0 (2,252,731)
Revolving credit facility, net 85,000 156,530
Dividends / Distribution paid (109,606) (96,548)
Lease deposits and other obligations to tenants 3,919 1,970
Offering costs (176) (101)
Stock / Unit vesting - satisfaction of tax withholdings (2,776) (745)
Repurchase of common stock / unit (6,123) 0
Payment of debt refinancing and deferred financing costs and other financing activities (1,766) (49,822)
Net cash (used for) provided by financing activities (31,528) 271,523
(Decrease) increase in cash, cash equivalents, and restricted cash for period (142,447) 161,920
Effect of exchange rate changes (2,120) 15,815
Cash, cash equivalents, and restricted cash at beginning of period 543,995 335,173
Cash, cash equivalents, and restricted cash at end of period 399,428 512,908
Interest paid 279,508 220,281
Supplemental schedule of non-cash investing activities:    
Real estate and other assets provided in property exchange 158,706 0
Real estate acquired in property exchange 165,500 0
Supplemental schedule of non-cash financing activities:    
Dividends / Distributions declared, unpaid 54,182 48,292
Cash, cash equivalents, and restricted cash are comprised of the following:    
Cash and cash equivalents at beginning of period 540,859 332,335
Restricted cash, included in Other assets at beginning of period $ 3,136 $ 2,838
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets
Cash, cash equivalents, and restricted cash at beginning of period $ 543,995 $ 335,173
Cash and cash equivalents at end of period 396,558 509,828
Restricted cash, included in Other assets at end of period $ 2,870 $ 3,080
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets
Cash, cash equivalents, and restricted cash at end of period $ 399,428 $ 512,908