Earnings Per Share/Unit (Tables)

9 Months Ended

Sep. 30, 2026

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

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

	For the Three Months Ended September 30,
	2026			2025
Numerator:
Net income (loss)	$	202,077		$	(77,450	)
Non-controlling interests’ share in net income		(494	)		(280	)
Participating securities’ share in earnings		(353	)		(256	)
Net income (loss), less participating securities’ share in earnings	$	201,230		$	(77,986	)
Denominator:
Basic weighted-average common shares		597,157			601,136
Dilutive potential common shares(1)		5			—
Diluted weighted-average common shares		597,162			601,136

	For the Nine Months Ended September 30,
	2026			2025
Numerator:
Net income (loss)	$	232,896		$	(293,534	)
Non-controlling interests’ share in net income		(1,081	)		(828	)
Participating securities’ share in earnings		(1,221	)		(597	)
Net income (loss), less participating securities’ share in earnings	$	230,594		$	(294,959	)
Denominator:
Basic weighted-average common shares		597,611			600,867
Dilutive potential common shares(1)		2			—
Diluted weighted-average common shares		597,613			600,867

MPT Operating Partnership, L.P.

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

	For the Three Months Ended September 30,
	2026			2025
Numerator:
Net income (loss)	$	202,077		$	(77,450	)
Non-controlling interests’ share in net income		(494	)		(280	)
Participating securities’ share in earnings		(353	)		(256	)
Net income (loss), less participating securities’ share in earnings	$	201,230		$	(77,986	)
Denominator:
Basic weighted-average units		597,157			601,136
Dilutive potential units(1)		5			—
Diluted weighted-average units		597,162			601,136

	For the Nine Months Ended September 30,
	2026			2025
Numerator:
Net income (loss)	$	232,896		$	(293,534	)
Non-controlling interests’ share in net income		(1,081	)		(828	)
Participating securities’ share in earnings		(1,221	)		(597	)
Net income (loss), less participating securities’ share in earnings	$	230,594		$	(294,959	)
Denominator:
Basic weighted-average units		597,611			600,867
Dilutive potential units(1)		2			—
Diluted weighted-average units		597,613			600,867

(1)The above computation of diluted earnings per share/unit does not include 279,746 and 149,937 of potential common shares/units for the three and nine months ended September 30, 2025, respectively, as inclusion of these shares when a loss exists would be antidilutive.