Earnings Per Share/Unit (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Our earnings per share were calculated based on the following (in thousands):

	For the Years Ended December 31,
	2025			2024			2023
Numerator:
Net loss	$	(275,937	)	$	(2,408,287	)	$	(556,092	)
Non-controlling interests’ share in earnings		(1,112	)		(1,984	)		(384	)
Participating securities’ share in earnings		(889	)		(946	)		(1,644	)
Net loss, less participating securities’ share in    earnings	$	(277,938	)	$	(2,411,217	)	$	(558,120	)
Denominator:
Basic weighted-average common shares		600,892			600,248			598,518
Dilutive potential common shares(1)		—			—			—
Diluted weighted-average common shares		600,892			600,248			598,518

MPT Operating Partnership, L.P.

Our earnings per unit were calculated based on the following (in thousands):

	For the Years Ended December 31,
	2025			2024			2023
Numerator:
Net loss	$	(275,937	)	$	(2,408,287	)	$	(556,092	)
Non-controlling interests’ share in earnings		(1,112	)		(1,984	)		(384	)
Participating securities’ share in earnings		(889	)		(946	)		(1,644	)
Net loss, less participating securities’ share in    earnings	$	(277,938	)	$	(2,411,217	)	$	(558,120	)
Denominator:
Basic weighted-average units		600,892			600,248			598,518
Dilutive potential units(1)		—			—			—
Diluted weighted-average units		600,892			600,248			598,518

(1)The above computation of diluted earnings per share does not include 112,452, 17,162, and 32,382 potential common shares/units for the years ended December 31, 2025, 2024, and 2023, respectively.