In the first three quarters of this year, Meditrust had received $959 million from the sale of assets, but still fell far short of realizing any profit. The property disposition, primarily holdings in the health-care industry, is part of a Five Point Plan to realign the portfolio to focus on its subsidiary, La Quinta Inns Inc. Shareholders had been forewarned in January the course that the year would take. The action does not affect Meditrust's preferred dividend, which remains stable at 9% and will be paid quarterly.
The REIT owns 300 hotels, 94 long-term facilities and 94 retirement and assisted living complexes. The REIT also owns five medical office buildings and seven healthcare-related properties.
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