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Meditrust has been moving up smartly this year (close to 100%)to 5.10 prior to their quarterly earnings anouncement. AS soon as they announced their earnings (loss?)the stock has since stalled.

Anyway I have been trying to make sence of the report in my own inept way so maybe someone better versed in the forien language of reading a balance sheet can offer some insite. I was trying to breakout what Meditrust's earnings will be once the dump the rest of the healthcare assets.

PLEASE VERIFY ALL #"S

Lodging EBITA for first quarter $61.5 million
Healthcare present book value $461 million
If healthcare assets sold for 80% of present book value $369 million
Present debt $1.6 billion

$1.6 billion debt - $369 million(health care sales)= $1.231 billion debt

$61.5 ebita x 4(quarters)=$246 million earnings anually (conservative since first quarter is usually not one of the best?)

$246 million - $123million interest ($1.23 billion x 10%)= $123 million
(Had to pick some number for interest cost)

$123 million / 142,958,000 shares = $.86 / share annual income

How will the NOL carryfoward affect Meditrust and how soon they will HAVE to pay a dividend (it is either $100 million or $220 million so far from what I can tell).

Anyone have any thoughts on what kind of share price Meditrust should achieve based on these earnings (we can always hope)compared to other REITS and their P/E's?

Just trying to get my hands around the numbers but not succeeding

as always
toofuzzy
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