Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

Medical Properties Trust, Inc.

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 December 31, 2015			Year Ended December 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011
Income From Continuing Operations Before Income Taxes	$	141,101		$	50,864		$	89,803		$	72,712		$	12,070
Fixed Charges		126,887			101,914			68,654			60,011			58,964
Amortization of Capitalized Interest		355			318			271			227			204
Capitalized Interest		(1,425	)		(1,860	)		(1,729	)		(1,596	)		(896	)
Earnings	$	266,918		$	151,236		$	156,999		$	131,354		$	70,342
Interest Expense/Debt Refinancing Costs	$	125,252		$	99,854		$	66,746		$	58,243		$	58,026
Portion of Rent Related to Interest		210			200			179			172			42
Capitalized Interest		1,425			1,860			1,729			1,596			896
Fixed Charges	$	126,887		$	101,914		$	68,654		$	60,011		$	58,964
Preferred Stock Dividends		—			—			—			—			—
Combined Fixed Charges and Preferred Stock Dividends	$	126,887		$	101,914		$	68,654		$	60,011		$	58,964
Ratio of Earnings to Fixed Charges		2.10	x		1.48	x		2.29	x		2.19	x		1.19	x
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		2.10	x		1.48	x		2.29	x		2.19	x		1.19	x

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.

Computation of Ratio of Earnings to Fixed Charges

MPT Operating Partnership, L.P.

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 December 31, 2015			Year Ended December 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011
Income From Continuing Operations Before Income Taxes	$	141,101		$	50,864		$	89,803		$	72,712		$	12,087
Fixed Charges		126,887			101,914			68,654			60,011			58,964
Amortization of Capitalized Interest		355			318			271			227			204
Capitalized Interest		(1,425	)		(1,860	)		(1,729	)		(1,596	)		(896	)
Earnings	$	266,918		$	151,236		$	156,999		$	131,354		$	70,359
Interest Expense/Debt Refinancing Costs	$	125,252		$	99,854		$	66,746		$	58,243		$	58,026
Portion of Rent Related to Interest		210			200			179			172			42
Capitalized Interest		1,425			1,860			1,729			1,596			896
Fixed Charges	$	126,887		$	101,914		$	68,654		$	60,011		$	58,964
Preferred Stock Dividends		—			—			—			—			—
Combined Fixed Charges and Preferred Stock Dividends	$	126,887		$	101,914		$	68,654		$	60,011		$	58,964
Ratio of Earnings to Fixed Charges		2.10	x		1.48	x		2.29	x		2.19	x		1.19	x
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		2.10	x		1.48	x		2.29	x		2.19	x		1.19	x

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.