Private company

MPT Operating Partnership, L.P.

In its 2026 annual report the company says: “We are a self-advised REIT formed in 2003 to acquire and develop net-leased healthcare facilities. We have operated as a REIT since April 6, 2004, and accordingly, elected REIT status upon the filing of our calendar year 2004 federal income tax return. We also make mortgage loans to healthcare operators collateralized by their real estate assets.”6 It is headquartered in Wilmington, United States.2

Last updated Oct 20, 2026.

Overview

  • IndustryReal Estate Investment Trusts2
  • HeadquartersWilmington, United States2
  • Incorporated inDE3
  • Business addressMedical Properties Trust, Inc., 10500 Liberty Parkway, Birmingham, Al3
  • Filer categoryLarge accelerated filer3
  • Legal formLimited Partnership2
  • Kind of organizationLimited partnership2
  • LEIWUQXXXF7PXTUPGROE8432
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 37014292

We are a self-advised REIT formed in 2003 to acquire and develop net-leased healthcare facilities. At December 31, 2025, we had investments in 384 facilities and approximately 39,000 licensed beds in 31 states in the U.S., seven countries in Europe, and Colombia in South America. We have operated as a REIT since April 6, 2004, and accordingly, elected REIT status upon the filing of our calendar year 2004 federal income tax return. Medical Properties Trust, Inc. was incorporated under Maryland law on August 27, 2003, and MPT Operating Partnership, L.P. was formed under Delaware law on September 10, 2003. We conduct substantially all of our business through MPT Operating Partnership, L.P.6 From its latest annual report

Corporate structure

MPT Operating Partnership, L.P. is part of a group headed by Medical Properties Trust. 472 entities, 7 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC. Each entity in the chart links to its source.

What it owns

What MPT Operating Partnership, L.P. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Properties, in its own words

At December 31, 2025, our portfolio (including properties in our five real estate joint ventures) consisted of 384 properties (including properties under construction or in the form of a first lien mortgage loan) operated by 52 different operators. Our vacant facilities represent less than 1% of total assets at December 31, 2025.

TotalProperties · Total 2025Revenues · TotalAssets(A)

The rest of Item 2

(Dollars in thousands)

United States:

Alabama · 2 · 791 · 6,162

Arizona · 8 · 37,519 · 328,873

Arkansas · 1 · 10,582 · 65,030

California · 17 · 69,157 · 977,890

Colorado · 3 · 10,746 · 102,549

Connecticut · 3 · 60 · 41,414

Florida · 6 · 21,696 · 834,940 · (B)

Idaho · 6 · 42,180 · 299,826

Indiana · 4 · 7,148 · 58,522

Iowa · 1 · 5,396 · 44,374

Kansas · 9 · 15,982 · 208,893 · (B)

Kentucky · 1 · 10,288 · 53,080

Louisiana · 5 · 6,060 · 106,713

Massachusetts · 2 · 436 · 244,824 · (D)

Michigan · 1 · 3,521 · 13,038

Missouri · 4 · 23,986 · 117,424

Montana · 1 · 2,049 · 19,134

New Jersey · 2 · 21,520 · 142,121

New Mexico · 2 · 5,271 · 50,519

North Carolina · 1 · 3,163 · 30,027

Ohio · 9 · 25,910 · 330,189 · (B)

Oklahoma · 1 · 7,082 · 6,855

Oregon · 1 · 12,588 · 80,539

Pennsylvania · 7 · 31,450 · 304,372

South Carolina · 5 · 17,174 · 123,512

Texas · 44 · 100,839 · 1,427,391 · (C)

Utah · 7 · 4,288 · 193,752 · (E)

Virginia · 2 · 2,940 · 15,728

Washington · 2 · 4,319 · 35,334

Wisconsin · 1 · 3,703 · 27,266

Wyoming · 3 · 10,034 · 89,174

Other assets · — · — · 1,072,900

Total United States · 161 · 517,878 · 7,452,365

International:

Colombia · 4 · 6,216 · 147,620

Germany · 85 · 42,686 · 751,806 · (E)

Italy · 8 · — · 86,091 · (E)

Portugal · 2 · 3,748 · 50,205

Spain · 9 · 12,599 · 302,323 · (D)(E)

Switzerland · 19 · 2,877 · 873,703 · (E)

United Kingdom · 92 · 373,279 · 4,184,188

Finland · 4 · 12,739 · 220,813

Other assets · — · — · 932,661

Total International · 223 · 454,144 · 7,549,410

Total · 384 · 972,022 · 15,001,775

Represents total assets at December 31, 2025.

Includes a facility that was vacant at December 31, 2025.

Includes a development project still under construction and facilities that were vacant at December 31, 2025.

Includes development project(s) still under construction at December 31, 2025.

For Germany, the U.S., Switzerland, Spain, and Italy, we own properties through five real estate joint venture arrangements and our share of revenues from these joint ventures is reflected in the "Earnings (loss) from equity investments" line of our consolidated statements of net income. However, the table below shows revenues earned from these joint venture arrangements:

TotalProperties · Total 2025 Revenues

(Dollars in thousands)

Germany · 71 · 70,614

U.S. · 5 · 24,733

Switzerland · 19 · 61,077

Spain · 2 · 7,463

Italy · 8 · 7,111

Total · 105 · 170,998

A breakout of our facilities at December 31, 2025 based on property type is as follows:

Number ofProperties · TotalSquareFootage · TotalLicensedBeds(A)

General acute care hospitals · 168 · 27,501,398 · 17,184

Behavioral health facilities · 68 · 3,067,544 · 4,238

Post acute care facilities · 128 · 13,788,289 · 17,109

FSERs · 20 · 170,642 · —

384 · 44,527,873 · 38,531

Reflects all properties, including those that are part of real estate joint ventures, except for our facilities that are under development.

The following table shows lease and loan expirations, assuming that none of the tenants/borrowers exercise any of their renewal options (dollars in thousands):

Total Lease and Loan Portfolio(1) · TotalLeases/Loans(2) · AnnualizedBaseRent/Interest(3) · % of TotalAnnualizedBaseRent/Interest · TotalSquareFootage · TotalLicensedBeds

2026 · 1 · 228 · — · 7,040 · —

2027 · 1 · 3,681 · 0.3 · 107,849 · 13

2028 · 7 · 17,746 · 1.5 · 1,946,588 · 559

2029 · 4 · 16,112 · 1.4 · 775,575 · 527

2030 · 10 · 7,128 · 0.6 · 309,615 · 84

2031 · 4 · 3,852 · 0.3 · 133,505 · 123

2032 · 21 · 60,495 · 5.2 · 1,067,663 · 743

2033 · 5 · 6,201 · 0.6 · 85,477 · 24

2034 · 8 · 62,889 · 5.5 · 1,968,674 · 1,345

2035 · 7 · 25,516 · 2.2 · 750,199 · 983

Thereafter · 301 · 950,848 · 82.4 · 34,793,831 · 33,402

Total · 369 · 1,154,696 · 100.0 · 41,946,016 · 37,803

Schedule includes leases and mortgage loans and related terms as of December 31, 2025.

Reflects all properties, including those that are part of real estate joint ventures, except vacant properties (less than 1% of total assets), facilities that are under development, and transitioning properties.

Represents base rent/interest income contractually owed per the lease/loan agreements on an annualized basis as of period end (including foreign currency exchange rates) but does not include tenant recoveries, additional rents and other lease-related adjustments to revenue (i.e., straight-line rents and deferred revenues), or any reserves or write-offs.

Item 2 of the 10-K filed Feb 26, 2026.6

Subsidiaries and ownership

Parent company (GLEIF)

Subsidiaries (GLEIF)

Subsidiaries (Exhibit 21)

  • Bacoreta Investments S.L. Spain4
  • Bath Business Management Limited Luxembourg4
  • EDPA Propco-Rockledge, LLC Florida4
  • Healthcare Properties Fund Italy Italy4
  • Hospital Properties (Reading Ltd.) Jersey4
  • Kiinteistö Oy Helsingin Puutarhurinkuja 2 Finland4
  • Kiinteistö Oy Joukahaisenkadun Pysäköinti Finland4
  • Kiinteistö Oy Kuopion Isabella Finland4
  • Kiinteistö Oy Oulun Kiilakivi Finland4
  • Kiinteistö Oy Turun Joukahaisenkatu 9 Finland4
  • MPT 30 (Paddocks Hospital) Ltd United Kingdom4
  • MPT 38 (Property Holdings) Ltd United Kingdom4
  • MPT AHG Lubeck S.a.r.l. Luxembourg4
  • MPT AHG Mecklenberg S.a.r.l. Luxembourg4
  • MPT AHG Odenwald S.a.r.l. Luxembourg4
  • MPT AHG Ravensruh S.a.r.l. Luxembourg4
  • MPT AHG Richelsdorf S.a.r.l. Luxembourg4
  • MPT AHG Romhild S.a.r.l. Luxembourg4
  • MPT AHG Wigbertshohe S.a.r.l. Luxembourg4
  • MPT ATOS Cologne S.a.r.l. Luxembourg4
  • MPT Aberdeen Ltd United Kingdom4
  • MPT Alicante SL Spain4
  • MPT Altrincham Ltd United Kingdom4
  • MPT Annesley Ltd. United Kingdom4
All 480 listed subsidiaries
  • MPT Arnold Ltd United Kingdom4
  • MPT Ashtead Limited United Kingdom4
  • MPT Australia MIT Holdings, LLC Delaware4
  • MPT Australia, LLC Delaware4
  • MPT Ayr Ltd. United Kingdom4
  • MPT BMI Harbour Hospital Ltd Jersey4
  • MPT Bad Pyrmont II S.a.r.l. Luxembourg4
  • MPT Bamford Ltd. United Kingdom4
  • MPT Barby Sarl Luxembourg4
  • MPT Barcelona Spanish Investment SL Spain4
  • MPT Basingstoke Ltd United Kingdom4
  • MPT Bath Ltd Jersey4
  • MPT Beckenham Ltd United Kingdom4
  • MPT Biddenham Ltd United Kingdom4
  • MPT Blackburn Ltd United Kingdom4
  • MPT Blackheath Ltd United Kingdom4
  • MPT Bolton Ltd United Kingdom4
  • MPT Brandis Sarl Luxembourg4
  • MPT Bristol Ltd United Kingdom4
  • MPT Bromley Ltd. United Kingdom4
  • MPT Burston Ltd. United Kingdom4
  • MPT Bussage Ltd. United Kingdom4
  • MPT Calverton Ltd. United Kingdom4
  • MPT Canterbury Ltd United Kingdom4
  • MPT Carmarthen Ltd United Kingdom4
  • MPT Cavendish Ltd. United Kingdom4
  • MPT Cheadle Ltd United Kingdom4
  • MPT Chelmsford Ltd United Kingdom4
  • MPT Circle Birmingham Ltd Jersey4
  • MPT Circle Property Holdings A Limited United Kingdom4
  • MPT Circle Property Holdings Limited United Kingdom4
  • MPT Circle Reading Ltd. United Kingdom4
  • MPT Colombia Finance, S.L. Spain4
  • MPT Colombia TRS, S.L. Spain4
  • MPT Combe Down Ltd United Kingdom4
  • MPT Croydon Ltd United Kingdom4
  • MPT Dahlener Heide S.a.r.l. Luxembourg4
  • MPT Darlington Limited United Kingdom4
  • MPT Development Services, Inc. Alabama4
  • MPT Dewsbury Limited United Kingdom4
  • MPT Dorchester Ltd United Kingdom4
  • MPT Downs Limited United Kingdom4
  • MPT Droitwich Spa Ltd United Kingdom4
  • MPT East Riding Limited United Kingdom4
  • MPT Edgbaston Ltd United Kingdom4
  • MPT Edmonton Ltd. United Kingdom4
  • MPT Europe Holdco S.a.rl. Luxembourg4
  • MPT Europe Opportunities, LLC Delaware4
  • MPT Euxton Limited United Kingdom4
  • MPT Finance Corporation Delaware4
  • MPT Floridablanca, S.L. Spain4
  • MPT Fromefield Ltd. United Kingdom4
  • MPT Fulwood Ltd United Kingdom4
  • MPT Glasgow Ltd United Kingdom4
  • MPT Global Opportunities, LLC Delaware4
  • MPT Godalming Ltd. United Kingdom4
  • MPT Goddards Green Ltd. United Kingdom4
  • MPT Great Missenden Ltd United Kingdom4
  • MPT Grovelands Ltd United Kingdom4
  • MPT Guildford Ltd United Kingdom4
  • MPT Harrow Ltd United Kingdom4
  • MPT Hemel Hempstead Ltd. United Kingdom4
  • MPT Hendon Ltd United Kingdom4
  • MPT Hurworth Ltd. United Kingdom4
  • MPT JV Holdco Sarl Luxembourg4
  • MPT Jersey Holdings Limited Jersey4
  • MPT Knaphill Ltd United Kingdom4
  • MPT Kuhlungsborn Sarl Luxembourg4
  • MPT Langho Ltd. United Kingdom4
  • MPT Legacy of Montclair, LLC New Jersey4
  • MPT Lincolnshire Limited United Kingdom4
  • MPT Llanarth Ltd. United Kingdom4
  • MPT Luxembourg AIF Italy GP S.a.r.l. Luxembourg4
  • MPT Luxembourg AIF Italy SCSp Luxembourg4
  • MPT Luxembourg GP S.a.r.l. Luxembourg4
  • MPT Luxembourg Partnership SCS Luxembourg4
  • MPT Manolete Opco TRS, LLC Delaware4
  • MPT Mansionhouse Ltd. United Kingdom4
  • MPT Meanwood Ltd. United Kingdom4
  • MPT Median Bad Oeynhausen S.a.r.l. Luxembourg4
  • MPT Median Bad Salzuflen S.a.r.l. Luxembourg4
  • MPT Median Bassenheim S.a.r.l. Luxembourg4
  • MPT Median Burggraben S.a.r.l Luxembourg4
  • MPT Median Children’s Rehab S.a.r.l. Luxembourg4
  • MPT Median Daun-Altburg S.a.r.l. Luxembourg4
  • MPT Median Daun-Am Rosenberg S.a.r.l. Luxembourg4
  • MPT Median Daun-Thommener Höhe S.a.r.l. Luxembourg4
  • MPT Median Dormagen, S.a.r.l. Luxembourg4
  • MPT Median Germersheim S.a.r.l. Luxembourg4
  • MPT Median Haus Dondert S.a.r.l. Luxembourg4
  • MPT Median Haus Grefrath S.a.r.l. Luxembourg4
  • MPT Median Haus Remscheid S.a.rl. Luxembourg4
  • MPT Median Haus Willich S.a.r.l. Luxembourg4
  • MPT Median Holdings, S.a.r.l. Luxembourg4
  • MPT Median Meduna Park S.a.r.l. Luxembourg4
  • MPT Median Meduna S.a.r.l. Luxembourg4
  • MPT Median Münchwies S.a.r.l. Luxembourg4
  • MPT Median Psychosomatik S.a.r.l Luxembourg4
  • MPT Median Saale II S.a.r.l. Luxembourg4
  • MPT Median Saale S.a.r.l. Luxembourg4
  • MPT Median Salze S.a.r.l. Luxembourg4
  • MPT Median Schweriner See S.a.r.l. Luxembourg4
  • MPT Median Tönisstein S.a.r.l. Luxembourg4
  • MPT Median Wilhelmsheim S.a.r.l. Luxembourg4
  • MPT Median am Waldsee S.a.r.l. Luxembourg4
  • MPT Melton Mowbray Ltd. United Kingdom4
  • MPT Middleton Ltd. United Kingdom4
  • MPT Milton Keynes Ltd United Kingdom4
  • MPT Monmouth Ltd. United Kingdom4
  • MPT Mt Stuart Limited United Kingdom4
  • MPT Newbury Ltd. United Kingdom4
  • MPT Nottingham Ltd. United Kingdom4
  • MPT Nucleus Holdco LLC Delaware4
  • MPT Nucleus TRS, LLC Delaware4
  • MPT Odiham Ltd. United Kingdom4
  • MPT Old Woking Ltd. United Kingdom4
  • MPT Operating Partnership, L.P. Massachusetts, Alabama, New York, Kansas4
  • MPT Orpington Ltd United Kingdom4
  • MPT Osborn Ltd United Kingdom4
  • MPT Preston Ltd. United Kingdom4
  • MPT Propco Holdco Ltd Jersey4
  • MPT RHM Achertal S.a.r.l. Luxembourg4
  • MPT RHM Adelsberg S.a.r.l. Luxembourg4
  • MPT RHM Aukammtal S.a.r.l. Luxembourg4
  • MPT RHM Bad Lausick S.a.r.l. Luxembourg4
  • MPT RHM Bad Sulze S.a.r.l. Luxembourg4
  • MPT RHM Berggiesshubel S.a.r.l. Luxembourg4
  • MPT RHM Braunfels S.a.r.l. Luxembourg4
  • MPT RHM Buchberg S.a.r.l. Luxembourg4
  • MPT RHM Burg Landshut S.a.r.l. Luxembourg4
  • MPT RHM Christiaan S.a.r.l. Luxembourg4
  • MPT RHM Flechtingen II S.a.r.l. Luxembourg4
  • MPT RHM Flechtingen S.a.r.l. Luxembourg4
  • MPT RHM Fontana S.a.r.l. Luxembourg4
  • MPT RHM Franz-Alexander S.a.r.l. Luxembourg4
  • MPT RHM Gottleuba S.a.r.l. Luxembourg4
  • MPT RHM Grunheide S.a.r.l. Luxembourg4
  • MPT RHM Gunzenbach S.a.r.l. Luxembourg4
  • MPT RHM Gyhum S.a.r.l. Luxembourg4
  • MPT RHM Hannover S.a.r.l. Luxembourg4
  • MPT RHM Heidelberg S.a.r.l. Luxembourg4
  • MPT RHM Heiligendamm S.a.r.l. Luxembourg4
  • MPT RHM Heinrich Mann S.a.r.l. Luxembourg4
  • MPT RHM Hillersbach S.a.r.l. Luxembourg4
  • MPT RHM Hohenfeld S.a.r.l. Luxembourg4
  • MPT RHM Hohenlohe S.a.r.l. Luxembourg4
  • MPT RHM Holdco S.a.r.l. Luxembourg4
  • MPT RHM Hoppegarten S.a.r.l. Luxembourg4
  • MPT RHM Kaiserberg S.a.r.l. Luxembourg4
  • MPT RHM Kalbe S.a.r.l. Luxembourg4
  • MPT RHM Kinzigtal S.a.r.l. Luxembourg4
  • MPT RHM Kladow S.a.r.l. Luxembourg4
  • MPT RHM Klaus S.a.r.l. Luxembourg4
  • MPT RHM Lobenstein S.a.r.l. Luxembourg4
  • MPT RHM Magdeburg S.a.r.l. Luxembourg4
  • MPT RHM Moselschleife S.a.r.l. Luxembourg4
  • MPT RHM Park S.a.r.l. Luxembourg4
  • MPT RHM Schlangenbad S.a.r.l. Luxembourg4
  • MPT RHM Sonnenwende S.a.r.l. Luxembourg4
  • MPT RHM St. George Bad Durrheim S.a.r.l. Luxembourg4
  • MPT RHM St. George Bad Krotzingen S.a.r.l. Luxembourg4
  • MPT RHM Sudpark S.a.r.l. Luxembourg4
  • MPT RHM Tennstedt S.a.r.l. Luxembourg4
  • MPT RHM Vesalius S.a.r.l. Luxembourg4
  • MPT RHM Wismar S.a.r.l. Luxembourg4
  • MPT Reading Limited United Kingdom4
  • MPT Renacres Limited United Kingdom4
  • MPT Rochdale Ltd United Kingdom4
  • MPT Roehampton Dowdeswell Ltd United Kingdom4
  • MPT Roehampton Ltd. United Kingdom4
  • MPT Rowley Limited United Kingdom4
  • MPT Royston Ltd. United Kingdom4
  • MPT Sandon Limited United Kingdom4
  • MPT Santa Maria da Feira S.a.r.l. United Kingdom4
  • MPT Silver Holdco, LLC Delaware4
  • MPT Sketchley Ltd. United Kingdom4
  • MPT Southampton Ltd. United Kingdom4
  • MPT Springstone REIT, Inc. Delaware4
  • MPT Stapleford Tawney Ltd. United Kingdom4
  • MPT Stepney Green Ltd United Kingdom4
  • MPT Stirling Ltd. United Kingdom4
  • MPT Stockton Ltd. United Kingdom4
  • MPT Swindon Ltd United Kingdom4
  • MPT Switzerland Holdings Sarl Luxembourg4
  • MPT Sycamore Opco, LLC Delaware4
  • MPT TRS Lender PMH, LLC Delaware4
  • MPT TRS Lender-Steward, LLC Massachusetts4
  • MPT TRS Lender-Vibra, LLC Delaware4
  • MPT TRS, Inc. Delaware4
  • MPT Tadley Ltd. United Kingdom4
  • MPT UK Finance Co Limited United Kingdom4
  • MPT UK Finance Co. Ltd. United Kingdom4
  • MPT UK Holdco S.a.r.l Luxembourg4
  • MPT UK Holdings Limited United Kingdom4
  • MPT UK JV Holdings, LLC Delaware4
  • MPT UK Property Holdings A Limited United Kingdom4
  • MPT UK Property Holdings Limited United Kingdom4
  • MPT Uberherrn Sarl Luxembourg4
  • MPT Utah Portfolio Investor, LLC Delaware4
  • MPT Utah Portfolio, LLC Delaware4
  • MPT Valencia Spanish Investment SL Spain4
  • MPT Viseu Sarl Luxembourg4
  • MPT Walsall Limited United Kingdom4
  • MPT Willenhall Ltd. United Kingdom4
  • MPT Wilmslow Ltd. United Kingdom4
  • MPT Winchester Ltd United Kingdom4
  • MPT Winfield Limited United Kingdom4
  • MPT Woodbourne Ltd. United Kingdom4
  • MPT Worthing Ltd United Kingdom4
  • MPT of Altoona, LLC Wisconsin4
  • MPT of Alvin FCER, LLC Texas4
  • MPT of Austin Riverside FCER, LLC Texas4
  • MPT of Avondale-Springstone, LLC Arizona4
  • MPT of Ayer-Steward, LLC Massachusetts4
  • MPT of Bayonne, LLC New Jersey4
  • MPT of Bellflower PMH GP, LLC California4
  • MPT of Bellflower PMH, L.P. California4
  • MPT of Bennettsville, LLC South Carolina4
  • MPT of Big Spring-Steward, LLC Texas4
  • MPT of Billings, LLC Montana4
  • MPT of Blue Springs, LLC Missouri4
  • MPT of Boise, LLC Idaho4
  • MPT of Bossier City, LLC Louisiana4
  • MPT of Bowling Green-Vibra, LLC Kentucky4
  • MPT of Brighton-Steward, LLC Massachusetts4
  • MPT of Brockton-Steward, LLC Massachusetts4
  • MPT of Brodie FCER, LLC Texas4
  • MPT of Brownsville, LLC Texas4
  • MPT of Carrollton-Springstone, LLC Texas4
  • MPT of Casper, LLC Wyoming4
  • MPT of Charleston-Vibra, LLC South Carolina4
  • MPT of Clarksville, LLC Indiana4
  • MPT of Clear Lake, L.P. Texas4
  • MPT of Clear Lake, LLC Texas4
  • MPT of Columbus-Springstone, LLC Ohio4
  • MPT of Comal County, LLC Texas4
  • MPT of Conroe-Springstone, LLC Texas4
  • MPT of Converse FCER, LLC Texas4
  • MPT of Coral Gables-Steward, LLC Florida4
  • MPT of Coral Terrace-Steward, LLC Florida4
  • MPT of Corpus Christi, LLC Texas4
  • MPT of Creekside FCER, LLC Texas4
  • MPT of Crown Point-Vibra, LLC Indiana4
  • MPT of Culver City PMH GP, LLC California4
  • MPT of Culver City PMH, L.P. California4
  • MPT of Dallas LTACH, L.P. Texas4
  • MPT of Dallas LTACH, LLC Texas (as “MPT of Dallas LTACH GP, LLC”)4
  • MPT of DeZavala FCER, LLC Texas4
  • MPT of Detroit, LLC Michigan4
  • MPT of Dorchester-Steward, LLC Massachusetts4
  • MPT of Dublin-Springstone, LLC Ohio4
  • MPT of East Los Angeles-PHS GP, LLC California4
  • MPT of East Los Angeles-PHS, L.P. California4
  • MPT of Easton-Steward, LLC Pennsylvania4
  • MPT of El Paso, LLC Texas4
  • MPT of Elgin, LLC South Carolina4
  • MPT of Englewood-Springstone, LLC Colorado4
  • MPT of Ernest-Bakersfield, LLC California4
  • MPT of Ernest-Bakersfield, LP California4
  • MPT of Ernest-Lexington, LLC South Carolina4
  • MPT of Ernest-Stockton, LLC California4
  • MPT of Ernest-Stockton, LP California4
  • MPT of Fall River-Steward, LLC Massachusetts4
  • MPT of Flagstaff, LLC Arizona4
  • MPT of Florence, LLC Arizona4
  • MPT of Fresno-Vibra GP, LLC California4
  • MPT of Fresno-Vibra, L.P. California4
  • MPT of Ft. Worth-Springstone, LLC Texas4
  • MPT of Gardena-PHS GP, LLC California4
  • MPT of Gardena-PHS, L.P. California4
  • MPT of Georgetown-Springstone, LLC Texas4
  • MPT of Gilbert-Springstone, LLC Arizona4
  • MPT of Glendale Camelback FCER, LLC Arizona4
  • MPT of Greenwood, LLC South Carolina4
  • MPT of Hartsville-Capella, LLC South Carolina4
  • MPT of Hastings-Lima, LLC Pennsylvania4
  • MPT of Hausman, LLC Texas4
  • MPT of Haverhill-Steward, LLC Massachusetts4
  • MPT of Helotes FCER, LLC Texas4
  • MPT of Hialeah Palmetto-Steward, LLC Florida4
  • MPT of Hialeah-Steward, LLC Florida4
  • MPT of Highland Hills-Springstone, LLC Ohio4
  • MPT of Highland Village FCER, LLC Texas4
  • MPT of Hillsboro TRS Lender, LLC Delaware4
  • MPT of Hillsboro, L.P. Texas4
  • MPT of Hillsboro, LLC Texas4
  • MPT of Hillside-Steward, LLC Ohio4
  • MPT of Hoboken Hospital, LLC Delaware4
  • MPT of Hoboken TRS, LLC New Jersey4
  • MPT of Hollywood PMH GP, LLC California4
  • MPT of Hollywood PMH, L.P. California4
  • MPT of Hoover-Medical West, LLC Alabama4
  • MPT of Hope-Steward, LLC Arkansas4
  • MPT of Hot Springs-Capella, LLC Arkansas4
  • MPT of Houston Antoine FCER, LLC Texas4
  • MPT of Houston RE-Steward, LLC Texas4
  • MPT of Houston-Steward, LLC Texas4
  • MPT of Huntington Park MOB-PHS GP, LLC California4
  • MPT of Huntington Park MOB-PHS, L.P. California4
  • MPT of Huntington Park-PHS GP, LLC California4
  • MPT of Huntington Park-PHS, L.P. California4
  • MPT of Idaho Falls, LLC Idaho4
  • MPT of Johnstown, LLC Colorado4
  • MPT of Johnstown-Lima, LLC Pennsylvania4
  • MPT of Kansas City, LLC Missouri4
  • MPT of Katy 1463 FCER, LLC Texas4
  • MPT of Lafayette, LLC Indiana4
  • MPT of Lafayette-Springstone, LLC Indiana4
  • MPT of Lander-Lima, LLC Wyoming4
  • MPT of Laredo, LLC Texas4
  • MPT of Las Cruces, LLC New Mexico4
  • MPT of Lauderdale Lakes-Steward, LLC Florida4
  • MPT of Lawton-Lima, LLC Oklahoma4
  • MPT of Layton RE-Steward, LLC Utah4
  • MPT of Layton-Steward Property, LLC Utah4
  • MPT of Layton-Steward, LLC Utah4
  • MPT of Lehi-Steward, LLC Utah4
  • MPT of Lewiston-RCCH LLC Idaho4
  • MPT of Little Elm FCER, LLC Texas4
  • MPT of Los Angeles PMH GP, LLC California4
  • MPT of Los Angeles PMH, L.P. California4
  • MPT of Los Angeles, L.P. California4
  • MPT of Los Angeles, LLC California4
  • MPT of Lubbock, LLC Texas4
  • MPT of Mahoning Valley-Vibra, LLC Ohio4
  • MPT of Manchester PMH, LLC Connecticut4
  • MPT of Mandeville FCER, LLC Louisiana4
  • MPT of Maricopa RE-Steward, LLC Arizona4
  • MPT of Marrero FCER, LLC Louisiana4
  • MPT of McKinney FCER, LLC Texas4
  • MPT of McKinney-Springstone, LLC Texas4
  • MPT of McMinnville-Capella, LLC Oregon4
  • MPT of Melbourne-Steward, LLC Florida4
  • MPT of Mesa Superstition-Steward, LLC Arizona4
  • MPT of Mesa, LLC Arizona4
  • MPT of Mesquite, LLC Texas4
  • MPT of Methuen-Steward, LLC Massachusetts4
  • MPT of Meyersdale-Lima, LLC Pennsylvania4
  • MPT of Miami-Steward, LLC Florida4
  • MPT of Missouri, LLC Missouri4
  • MPT of Mountain View, LLC Delaware4
  • MPT of Nacogdoches FCER, LLC Texas4
  • MPT of New Orleans Canal FCER, LLC Louisiana4
  • MPT of Newark, LLC New Jersey4
  • MPT of Newburgh-Springstone, LLC Indiana4
  • MPT of Norwalk MOB-PHS GP, LLC California4
  • MPT of Norwalk MOB-PHS, L.P. California4
  • MPT of Norwalk PMH GP, LLC California4
  • MPT of Norwalk PMH, L.P. California4
  • MPT of Norwalk-PHS GP, LLC California4
  • MPT of Norwalk-PHS, L.P. California4
  • MPT of Norwood-Steward, LLC Massachusetts4
  • MPT of Odessa RE-Steward, LLC Texas4
  • MPT of Odessa-Steward, LLC Texas4
  • MPT of Ogden RE-Steward, LLC Utah4
  • MPT of Ogden, LLC Utah4
  • MPT of Oklahoma City-Springstone, LLC Oklahoma4
  • MPT of Olathe-Springstone, LLC Kansas4
  • MPT of Olympia, LLC Delaware4
  • MPT of Ottumwa-Lima, LLC Iowa4
  • MPT of Overlook Parkway, LLC Texas4
  • MPT of Palestine-Lima, LLC Texas4
  • MPT of Paradise Valley, L.P. California4
  • MPT of Paradise Valley, LLC California4
  • MPT of Pasco-RCCH, LLC Washington4
  • MPT of Pearland FCER, LLC Texas4
  • MPT of Petersburg, LLC Virginia4
  • MPT of Phoenix Behavioral-Steward, LLC Arizona4
  • MPT of Phoenix RE-Steward, LLC Arizona4
  • MPT of Phoenix-Steward, LLC Arizona4
  • MPT of Plano Preston FCER, LLC Texas4
  • MPT of Poplar Bluff, LLC Missouri4
  • MPT of Port Arthur RE-Steward LLC Texas4
  • MPT of Port Arthur, LLC Texas4
  • MPT of Port Huron, LLC Michigan4
  • MPT of Post Falls, LLC Idaho4
  • MPT of Potranco FCER, LLC Texas4
  • MPT of Prescott Valley, LLC Arizona4
  • MPT of Provo, LLC Utah4
  • MPT of Raleigh-Springstone GP, LLC North Carolina4
  • MPT of Raleigh-Springstone, L.P. North Carolina4
  • MPT of Redding-Vibra GP, LLC California4
  • MPT of Redding-Vibra, L.P. Delaware4
  • MPT of Richmond-Springstone, LLC Texas4
  • MPT of Richmond-Vibra, LLC Virginia4
  • MPT of Ridley Park PMH, LLC Pennsylvania4
  • MPT of Riverton-Lima, LLC Wyoming4
  • MPT of Roaring Springs-Lima, LLC Pennsylvania4
  • MPT of Rochdale-Vibra, LLC Massachusetts4
  • MPT of Rockledge-Steward, LLC Florida4
  • MPT of Rockville PMH, LLC Connecticut4
  • MPT of Rosenberg FCER, LLC Texas4
  • MPT of Sacramento-Vibra GP, LLC California4
  • MPT of Sacramento-Vibra, L.P. California4
  • MPT of Salt Lake City-Steward, LLC Utah4
  • MPT of San Antonio RE-Steward, LLC Texas4
  • MPT of San Antonio-Steward, LLC Texas4
  • MPT of San Bernardino-Vibra GP, LLC California4
  • MPT of San Bernardino-Vibra, L.P. California4
  • MPT of Sebastian-Steward, LLC Florida4
  • MPT of Sharon-Steward, LLC Pennsylvania4
  • MPT of Sherman-Alecto Hospital, LLC Texas4
  • MPT of Sherman-Alecto, LLC Texas4
  • MPT of South Clear Lake, LLC Texas4
  • MPT of Spartanburg, LLC South Carolina4
  • MPT of Springfield PMH, LLC Pennsylvania4
  • MPT of St. Luke's Leawood, LLC Kansas4
  • MPT of St. Luke's Olathe, LLC Kansas4
  • MPT of St. Luke's Overland Park North, LLC Kansas4
  • MPT of St. Luke's Overland Park South, LLC Kansas4
  • MPT of St. Luke's Parallel Parkway, LLC Kansas4
  • MPT of St. Luke's Roeland Park, LLC Kansas4
  • MPT of St. Luke's Shawnee, LLC Kansas4
  • MPT of Taunton-Steward, LLC Massachusetts4
  • MPT of Tempe-Steward, LLC Arizona4
  • MPT of Texarkana-Steward, LLC Texas4
  • MPT of Toledo, LLC Ohio4
  • MPT of Tomball, L.P. Texas4
  • MPT of Tomball, LLC Texas (as “MPT of Tomball GP, LLC”)4
  • MPT of Tustin PMH GP, LLC California4
  • MPT of Tustin PMH, L.P California4
  • MPT of Twelve Oaks, L.P. Texas4
  • MPT of Twelve Oaks, LLC Texas4
  • MPT of Upland PMH, LLC Pennsylvania4
  • MPT of Upper Darby PMH, LLC Pennsylvania4
  • MPT of Utah-Steward Holdings, LLC Delaware4
  • MPT of Utah-Steward, LLC Delaware4
  • MPT of Van Nuys PMH GP, LLC California4
  • MPT of Van Nuys PMH, L.P. California4
  • MPT of Vancouver-Springstone, LLC Washington4
  • MPT of Victory Lakes FCER, LLC Texas4
  • MPT of Warren-Steward, LLC Ohio4
  • MPT of Waterbury PMH, LLC Connecticut4
  • MPT of Weslaco, LLC Texas4
  • MPT of West Chester-Springstone, LLC Ohio4
  • MPT of West Jordan-Steward Property, LLC Utah4
  • MPT of West Jordan-Steward, LLC Utah4
  • MPT of West Monroe, LLC Louisiana4
  • MPT of West Valley City, LLC Utah4
  • MPT of Westover Hills, LLC Texas4
  • MPT of Wichita, LLC Kansas4
  • MPT of Youngstown-Steward, LLC Ohio4
  • Med Valencia S.a.r.l. Luxembourg4
  • Medical Properties Trust Limited Jersey4
  • Medical Properties Trust S.a.r.l. Luxembourg4
  • Medical Properties Trust, LLC Alabama, Massachusetts4
  • Medical Properties Trust, S.L. Spain4
  • Mountain View-MPT Hospital, LLC Idaho4
  • Newco Inversiones Immobiliarias SL Spain4
  • Nucleus Holdco JV LLC Delaware4
  • Proyectos Moraleja 2002 SL Spain4
  • Proyectos Torrelodones SL Spain4
  • Rehab and Mental Healthcare Group B.V. Netherlands4
  • Silver Holdco JV Sub, LLC Delaware4
  • Silver Holdco JV, LLC Delaware4
  • Wichita Health Associates Limited Partnership Kansas4

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 10, 20268-K Results of operations; Regulation FD disclosure7
  2. Aug 10, 20268-K Entered a material agreement; New debt or obligation8
  3. Aug 14, 20258-K Other events9
  4. Aug 11, 20258-K Other events10
  5. Feb 18, 20258-K Entered a material agreement; New debt or obligation11
  6. Jan 31, 20258-K Other events12
  7. Jan 29, 20258-K Regulation FD disclosure; Other events13
  8. Sep 17, 20248-K Ended a material agreement; Impairment14
  9. Aug 8, 20248-K Entered a material agreement; Results of operations; New debt or obligation15
  10. May 28, 20248-K New debt or obligation16
  11. May 16, 20248-K Listing notice or transfer; Regulation FD disclosure17
  12. May 10, 20248-K Impairment18
  13. Jan 15, 2020Parent Directly consolidated by Medical Properties Trust2
  14. Sep 10, 2003Founded MPT Operating Partnership, L.P. is founded2

Calendar

When it reported results

  1. Aug 10, 2026Reported quarterly or annual results7
  2. Aug 8, 2024Reported quarterly or annual results15

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

40 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 18 major events, 1 other. The latest 20:

  1. Aug 10, 20268-K EDGAR
  2. Aug 10, 202610-Q EDGAR
  3. Aug 10, 20268-K EDGAR
  4. May 8, 202610-Q EDGAR
  5. Feb 26, 202610-K EDGAR
  6. Nov 10, 202510-Q EDGAR
  7. Aug 14, 20258-K EDGAR
  8. Aug 11, 20258-K EDGAR
  9. Aug 8, 202510-Q EDGAR
  10. May 9, 202510-Q EDGAR
  11. Apr 17, 2025DEF 14A EDGAR
  12. Mar 3, 202510-K EDGAR
  13. Feb 18, 20258-K EDGAR
  14. Jan 31, 20258-K EDGAR
  15. Jan 29, 20258-K EDGAR
  16. Nov 13, 202410-Q/A EDGAR
  17. Nov 12, 202410-Q EDGAR
  18. Sep 17, 20248-K EDGAR
  19. Aug 9, 202410-Q EDGAR
  20. Aug 8, 20248-K EDGAR

The 40 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Edward K. AldagJr.$1.0M$16.4M19
2024R. Steven Hamner$675.0K$8.4M19
2024Larry H. Portal$643.8K$1.7M19
2024J. Kevin Hanna$515.0K$1.2M19
2024Rosa H. Hooper$429.0K$797.7K19
2023ChairmanPresident, and$1.0M$17.9M19
2023DirectorExecutive Vice President$675.0K$9.1M19
2023Senior VicePresident,$625.0K$3.5M19
2023Senior Vice PresidentController$500.0K$3.0M19
2022Chief Executive Officer$1.0M$16.0M19
2022and Chief Financial Officer$675.0K$8.2M19

SEC filer profile

How MPT Operating Partnership, L.P. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMPT Operating Partnership, L.P.1
  • CIK0001524607
  • Employer ID (EIN)20-01917426
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
  • Incorporated inMaryland6
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business addressMedical Properties Trust, Inc., 10500 Liberty Parkway, Birmingham, AL1
  • Phone205-969-37551
  • Shares outstanding597,200,000 as of Aug 10, 202620
  • Public float$2.6B as of Jun 30, 20256
  • AuditorPricewaterhouseCoopers LLP, Birmingham, Alabama PCAOB ID 238; it also attests to the company’s internal control over financial reporting6
  • On EDGAR sinceOct 6, 20111
  • Filings235 in all: 8-K (87), 10-Q (44), UPLOAD (25), 10-K (15), 424B2 (14), CORRESP (14), 424B5 (13), S-3ASR (6)1
    All 20 form types

    10-K/A (4), 15-15D (2), 8-K/A (2), 10-Q/A (1), 424B3 (1), ARS (1), DEF 14A (1), DEFA14A (1), EFFECT (1), NT 10-Q (1), POSASR (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Proxy statement (DEF 14A) Apr 17, 2025
    Latest 8-K (8-K) Aug 10, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, par value $0.001 per share, of Medical Properties Trust, Inc.MPTThe New York Stock Exchange

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).6

Risk factors and legal proceedings

The risks MPT Operating Partnership, L.P. names in Item 1A of its 10-K filed Feb 26, 2026: 52 risks under these headings, as written.6

  • risks related to our business, tenants, and strategy;
  • financing risks;
  • risks relating to real estate investments;
  • risks relating to the healthcare industry;
  • risks relating to our organization and structure; and
  • RISKS RELATED TO OUR BUSINESS, TENANTS, AND STRATEGY
  • Adverse U.S. and global market, economic and political conditions, health crises and other events beyond our control could have a material adverse effect on our business, results of operations, and financial condition.
  • Our revenues are dependent upon our relationships with and success of our tenants, particularly our largest tenants, like Circle, Priory, HSA, Swiss Medical, and Lifepoint Behavioral.
  • We have made investments in certain operators of our healthcare facilities and the cash flows (and related returns) from these investments are subject to more volatility than our properties with traditional net leasing structures.
  • The bankruptcy or insolvency of our tenants or investees could harm our results of operations, financial condition, and liquidity.
  • Declines in the fair value of our assets may force us to recognize impairment charges, which could adversely impact our results of operations, financial condition, liquidity, and the market price of our common stock.
  • It may be costly to replace defaulting tenants or find new tenants when lease terms end, and we may not be able to find replacements on comparable or otherwise suitable terms.
The other 46 risks
  • Our employees are responsible for all aspects of managing our portfolio of over 380 properties across nine countries, and our failure to effectively manage our properties along with any growth may adversely impact our financial condition and cash flows, which could negatively affect our ability to service our debt and make distributions.
  • We have less experience with healthcare facilities located outside the U.S.
  • We and our tenants have exposure to contingent rent escalators, which could impact profitability.
  • Our business is highly competitive, and we may be unable to compete successfully.
  • Many of our tenants have an option to purchase the facilities we lease to them, which could disrupt our operations.
  • Merger and acquisition activity or consolidation in the healthcare industry may result in a change of control of, or a competitor’s investment in, one or more of our tenants or operators, which could have a material adverse effect on us.
  • Our investments in joint ventures could be adversely affected by our lack of control, our partners’ failure to meet their obligations, and disputes with our partners.
  • Increased scrutiny, politicization, and changing expectations from investors, employees, tenants, and other stakeholders regarding corporate responsibility and sustainability matters could adversely impact our reputation, tenant and employee acquisition and retention, and access to capital.
  • FINANCING RISKS
  • Our indebtedness could adversely affect our financial condition, and may otherwise adversely impact our business operations and our ability to make distributions to stockholders.
  • Covenants in our debt instruments limit our operational flexibility, and a breach of these covenants could materially affect our financial condition and results of operations.
  • Failure to hedge effectively against interest rate changes may adversely affect our results of operations and our ability to make distributions to our stockholders.
  • The market price and trading volume of our common stock may be volatile and may decline regardless of our operating performance, and you may lose all or part of your investment.
  • Future sales of common stock may adversely affect our stock price.
  • Downgrades in our credit ratings could have a material adverse effect on our cost and availability of capital.
  • Elevated interest rates may adversely affect the market price of our securities.
  • Limited access to capital may restrict our growth.
  • RISKS RELATING TO REAL ESTATE INVESTMENTS
  • Our investments are, and are expected to continue to be, concentrated in a single industry, making us more vulnerable economically than if our investments were more diversified.
  • The illiquidity of real estate investments could significantly impede our ability to respond to adverse changes in the performance of our facilities and harm our financial condition.
  • Development and construction risks could adversely affect our ability to service our debt and make distributions to our stockholders.
  • We may be subject to risks arising from future acquisitions of real estate.
  • Our facilities may not achieve expected results, which may harm our results of operations and financial condition, as well as our ability to service our debt and make the distributions to our stockholders required to maintain our REIT status.
  • We may suffer losses that are not covered by insurance or that are in excess of our insurance coverage limits.
  • Capital expenditures for facility renovation may be greater than anticipated and may adversely impact rent payments by our tenants and our ability to service our debt and make distributions to our stockholders.
  • Certain of our healthcare facilities are subject to property taxes that may increase in the future and adversely affect our business.
  • As an owner and lessor of real estate, we are subject to risks under applicable environmental laws, the cost of compliance with which and any violation of which could materially adversely affect us.
  • Our interests in facilities through ground leases expose us to the risk of loss of the facility upon breach or termination of the underlying ground lease, may limit our use of the facility, and may result in additional expenses to us if our tenants vacate the facility.
  • RISKS RELATING TO THE HEALTHCARE INDUSTRY
  • The continued pressure on healthcare reimbursement in the U.S. and other countries in which we do business, including shifts from fee-for-service reimbursement towards alternative payment models, other healthcare policy reforms, and government cost cutting measures, could adversely affect the profitability of our tenants and their ability to make payments to us.
  • Significant regulation and loss of licensure or certification or failure to obtain licensure or certification could negatively impact our tenants' financial condition and results of operations and affect their ability to make payments to us.
  • Our tenants are subject to fraud and abuse laws, the violation of which may jeopardize their ability to make payments to us and adversely affect their profitability.
  • Certain of our lease arrangements may be subject to laws related to fraud and abuse or physician self-referrals.
  • We may incur substantial capital expenditures to make our healthcare facilities suitable for tenants or compliant with applicable regulatory requirements.
  • State certificate of need laws may adversely affect our development of facilities and the operations of our tenants.
  • Regulatory restrictions on healthcare transactions involving REITs could adversely affect our business, results of operations, and financial condition.
  • RISKS RELATING TO OUR ORGANIZATION AND STRUCTURE
  • We depend on key personnel, the loss of any one of whom may threaten our ability to operate our business successfully.
  • Pursuant to Maryland law, our charter and bylaws contain provisions that may have the effect of deterring changes in management and third-party acquisition proposals, which in turn could depress the price of our common stock or cause dilution.
  • We rely on information technology in our operations, and any material failure, inadequacy, interruption, or security failure of our technology (or that of our third-party vendors) could harm our business.
  • Unfavorable resolution of pending and future litigation, regulatory proceedings, or governmental inquiries could have a material adverse effect on our and our tenants' business, results of operations, financial condition, and reputation.
  • Changes in accounting pronouncements could adversely affect us and the reported financial performance of our tenants.
  • TAX RISKS
  • Loss of our tax status as a REIT would have significant adverse consequences to us and the value of our common stock.
  • Failure to make required distributions as a REIT would increase our tax burden.
  • Complying with REIT requirements may cause us to forego otherwise attractive opportunities.
  • If certain sale-leaseback transactions are not characterized by the Internal Revenue Service (“IRS”) or similar tax authorities internationally as “true leases,” we may be subject to adverse tax consequences.
  • Transactions with TRSs may be subject to excise tax.
  • Loans to our tenants could be characterized as equity, in which case our income from that tenant might not be qualifying income under the REIT rules and we could lose our REIT status.
  • Certain transfers may generate prohibited transaction income, resulting in a penalty tax on gain attributable to the transaction.
  • Changes in U.S. or foreign tax laws, regulations, including changes to tax rates, may adversely affect our results of operations.

Legal proceedings

We are party to various lawsuits as further described in Note 8 to the consolidated financial statements in Item 8 of this Annual Report on Form 10-K. We have not recorded a liability related to these lawsuits because, at this time, we are unable to determine whether an unfavorable outcome is possible or to estimate reasonably possible losses.

In addition to the foregoing, we are currently and have in the past been subject to various other legal proceedings and regulatory actions in connection with our business. We believe that the resolution of any current pending legal or regulatory matters will not have a material adverse effect on our business, financial condition, results of operations, or cash flows. Nonetheless, we cannot predict the outcome of these proceedings, as legal and regulatory matters are subject to inherent uncertainties, and there exists the possibility that the ultimate resolution of such matters could have a material adverse effect on our financial condition, cash flows, results of operations, and the trading price of our common stock.

The opening of Item 3, Legal Proceedings.6