Medical Properties Trust (MPW) S-3ASR Automatic shelf registration

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

The following table sets forth ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred dividends for the periods indicated below.

	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,
	2009			2008			2007			2006			2005
Income (Loss) From Continuing Operations Before Income Taxes	$	39,490,729		$	24,846,964		$	26,352,553		$	17,281,065		$	7,373,170
Fixed Charges		37,704,583			42,490,151			30,898,700			10,835,045			4,654,135
Amortization of Capitalized Interest		204,422			204,422			187,138			73,279			¾
Capitalized Interest		¾			¾			(1,335,413	)		(6,220,427	)		(3,107,965	)
Earnings	$	77,399,734		$	67,541,537		$	56,102,978		$	21,968,962		$	8,919,340
Interest Expense	$	37,662,501		$	42,439,917		$	29,530,448		$	4,579,517		$	1,521,169
Portion of Rent Related to Interest		42,082			50,234			32,839			35,101			25,000
Capitalized Interest		¾			¾			1,335,413			6,220,427			3,107,966
Fixed Charges	$	37,704,583		$	42,490,151		$	30,898,700		$	10,835,045		$	4,654,135
Preferred Stock Dividends		¾			¾			¾			¾			¾
Combined Fixed Charges and Preferred Stock Dividends	$	37,704,583		$	42,490,151		$	30,898,700		$	10,835,045		$	4,654,135
Ratio of Earnings to Fixed Charges		2.05	x		1.59	x		1.82	x		2.03	x		1.92	x
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		2.05	x		1.59	x		1.82	x		2.03	x		1.92	x
Deficiency

     Our ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. Our ratio of earnings to combined fixed charges and preferred dividends is computed by dividing earnings by combined fixed charges and preferred dividends. For these purposes, “earnings” is the amount resulting from adding together income (loss) from continuing operations, fixed charges, and amortization of capitalized interest and subtracting interest capitalized. “Fixed charges” is the amount resulting from adding together interest expensed and capitalized; amortized premiums, discounts and capitalized expenses related to indebtedness; and the interest portion of rent. “Combined fixed charges and preferred dividends” is the amount resulting from adding together fixed changes and preferred dividends paid and accrued for each respective period.