Medical Properties Reports Drop in 2nd-Quarter Profit

Medical Properties, citing higher interest expenses associated with the refinancing of some notes, said its profit fell 12% in the second quarter that ended June 30 to $453,000, or 19 cents a share, from a year earlier.

The Encino-based real estate investment trust, which invests in health care-related buildings, said its total income, which includes rental and interest income, was virtually flat at $1.3 million.

For the six months, Medical Properties’ profit was $889,000, or 38 cents a share, while total income was $2.6 million.