DALLAS-The Meditrust Corp. board of directors is supporting the REIT’s September forecast that no dividend will be paid this quarter in light of a $244-million loss, incurred earlier this year in a property disposition. It is able to hold its REIT status because there is no taxable income.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.