Earnings Per Share/Unit (Tables)

3 Months Ended

Mar. 31, 2026

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


	For the Three Months Ended March 31,
	2026			2025
Numerator:
Net income (loss)	$	33,107		$	(118,016	)
Non-controlling interests’ share in net income		(280	)		(259	)
Participating securities’ share in earnings		(461	)		(117	)
Net income (loss), less participating securities’ share in earnings	$	32,366		$	(118,392	)
Denominator:
Basic weighted-average common shares		597,715			600,594
Dilutive potential common shares(1)		—			—
Diluted weighted-average common shares		597,715			600,594

MPT Operating Partnership, L.P.

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


	For the Three Months Ended March 31,
	2026			2025
Numerator:
Net income (loss)	$	33,107		$	(118,016	)
Non-controlling interests’ share in net income		(280	)		(259	)
Participating securities’ share in earnings		(461	)		(117	)
Net income (loss), less participating securities’ share in earnings	$	32,366		$	(118,392	)
Denominator:
Basic weighted-average units		597,715			600,594
Dilutive potential units(1)		—			—
Diluted weighted-average units		597,715			600,594

(1)

The above computation of diluted earnings per share/unit does not include 66,244 shares/units for the three months ended March 31, 2025, as inclusion of these shares when a loss exists would be antidilutive. There were no dilutive potential common shares/units for the three months ended March 31, 2026.