UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                               (AMENDMENT NO. 1)*

                         MEDICAL PROPERTIES TRUST, INC.
                                (Name of Issuer)

                         COMMON STOCK, $0.001 PAR VALUE
                         (Title of Class of Securities)

                                    58463J304
                                 (CUSIP NUMBER)

                                 AUGUST 19, 2005
             (Date of event which requires filing of this statement)

     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

|_|   Rule 13d-1(b)

|X|   Rule 13d-1(c)

|_|   Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
notes).


                               Page 1 of 10 Pages


CUSIP No. 58463J304                      13G                  Page 2 of 10 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Millennium Partners, L.P.
     13-3521699
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Cayman Islands
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          1,500,000
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            1,500,000
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,874,100
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     4.7%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     PN
--------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 58463J304                      13G                  Page 3 of 10 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Millenco, L.P.
     13-3532932
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          374,100
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            374,100
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,874,100
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     4.7%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     PN, BD
--------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 58463J304                      13G                  Page 4 of 10 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Millennium Management, L.L.C.
     13-3804139
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          1,874,100
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            1,874,100
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,874,100
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     4.7%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     OO
--------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 58463J304                      13G                  Page 5 of 10 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Israel A. Englander
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     United States
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          1,874,100
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            1,874,100
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,874,100
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     4.7%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     IN
--------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 58463J304                      13G                  Page 6 of 10 Pages

Item 1.

(a)   Name of Issuer

      Medical Properties Trust, Inc., a company incorporated under the laws of
      Maryland (the "Company").

(b)   Address of Issuer's Principal Executive Offices:

      1000 Urban Center Drive, Suite 501
      Birmingham, Alabama 35242

Item 2(a).  Name of Person Filing
Item 2(b).  Address of Principal Business Office
Item 2(c).  Citizenship

            Millennium Partners, L.P.
            c/o Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: Cayman Islands

            Millenco, L.P.
            c/o Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: Delaware

            Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: Delaware

            Israel A. Englander
            c/o Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: United States

(d)   Title of Class of Securities

      Common Stock, $0.001 par value ("Common Stock")

(e)   CUSIP Number

      58463J304

Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:

(a)   |_| Broker or dealer registered under Section 15 of the Act (15 U.S.C.
          78o).

(b)   |_| Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)   |_| Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C.
          78c).



CUSIP No. 58463J304                      13G                  Page 7 of 10 Pages

(d)   |_| Investment company registered under Section 8 of the Investment
          Company Act of 1940 (15 U.S.C. 80a-8).

(e)   |_| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

(f)   |_| An employee benefit plan or endowment fund in accordance with Rule
          13d-1(b)(1)(ii)(F);

(g)   |_| A parent holding company or control person in accordance with Rule
          13d-1(b)(1)(ii)(G);

(h)   |_| A savings association as defined in Section 3(b) of the Federal
          Deposit Insurance Act (12 U.S.C. 1813);

(i)   |_| A church plan that is excluded from the definition of an investment
          company under Section 3(c)(14) of the Investment Company Act of 1940
          (15 U.S.C. 80a-3);

(j)   |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]

Item 4. Ownership

(a) Amount Beneficially Owned

      As of the date of this filing, 1,500,000 shares of Common Stock were held
outright by Millennium Partners, L.P., a Cayman Islands exempted limited
partnership ("Millennium Partners") and 374,100 shares of Common Stock were held
outright by Millenco, L.P., a Delaware limited partnership and a registered
broker-dealer ("Millenco").

      The general partner of Millennium Partners and of Millenco is Millennium
Management, L.L.C., a Delaware limited liability company ("Millennium
Management"), and consequently, Millennium Management may be deemed to have
voting control and investment discretion over securities owned by Millennium
Partners and by Millenco. Israel A. Englander ("Mr. Englander") is the managing
member of Millennium Management. As a result, Mr. Englander may be deemed to be
the beneficial owner of any shares deemed to be beneficially owned by Millennium
Management. The foregoing should not be construed in and of itself as an
admission by either of Millennium Management or Mr. Englander as to beneficial
ownership of the shares owned by Millennium Partners or by Millenco.

      Note: Millennium Partners is a limited partner of Millenco. As a limited
partner, Millennium Partners has no investment or voting control over Millenco
or its securities position.

(b) Percent of Class

      4.7% (see Item 4(a) above), which percentage was calculated based on
39,969,065 shares of Common Stock outstanding as of August 19, 2005, as reported
in the Company's Quarterly Report on Form 10-Q, dated as of August 22, 2005.



CUSIP No. 58463J304                      13G                  Page 8 of 10 Pages

(c)   Number of shares as to which such person has:

            (i)   Sole power to vote or to direct the vote:

                  -0-

            (ii)  Shared power to vote or to direct the vote

                  1,874,100

            (iii) Sole power to dispose or to direct the disposition of

                  -0-

            (iv)  Shared power to dispose or to direct the disposition of

                  1,874,100

Item 5. Ownership of Five Percent or Less of a Class

      If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X]

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

      Not applicable.

Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company

      Not applicable.

Item 8. Identification and Classification of Members of the Group

      See Exhibit I.

Item 9. Notice of Dissolution of Group

      Not applicable.

Item 10. Certification

By signing below each of the undersigned certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.

Exhibits:

Exhibit I: Joint Filing Agreement, dated as of August 23, 2005, by and among
Millennium Partners, L.P., Millenco, L.P., Millennium Management, L.L.C. and
Israel A. Englander.



CUSIP No. 58463J304                      13G                  Page 9 of 10 Pages

                                    SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief, each of
the undersigned certifies that the information with respect to it set forth in
this statement is true, complete, and correct.

Dated: August 23, 2005


MILLENNIUM PARTNERS, L.P.                   MILLENCO, L.P.

By: Millennium Management, L.L.C.           By: Millennium Management, L.L.C.
    its managing partner                        its general partner

By:  /s/ David Nolan                        By:  /s/ David Nolan
   -----------------------------------         ---------------------------------
   Name:  David Nolan                          Name:  David Nolan
   Title: Executive Vice President             Title: Executive Vice President


                                             MILLENNIUM MANAGEMENT, L.L.C.

   /s/ Israel A. Englander by Simon          By:  /s/ David Nolan
Lorne pursuant to Power of Attorney              -------------------------------
filed with SEC on June 6, 2005                   Name:  David Nolan
--------------------------------------           Title: Executive Vice President
ISRAEL A. ENGLANDER



CUSIP No. 58463J304                      13G                 Page 10 of 10 Pages

                                    EXHIBIT I

                             JOINT FILING AGREEMENT

This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the Common
Stock, $0.001 par value, of Medical Properties Trust, Inc., a company
incorporated under the laws of Maryland, is being filed, and all amendments
thereto will be filed, on behalf of each of the persons and entities named below
in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as
amended. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

Dated: August 23, 2005


MILLENNIUM PARTNERS, L.P.                   MILLENCO, L.P.

By: Millennium Management, L.L.C.           By: Millennium Management, L.L.C.
    its managing partner                        its general partner

By:  /s/ David Nolan                        By:  /s/ David Nolan
   ---------------------------------           ---------------------------------
   Name:  David Nolan                          Name:  David Nolan
   Title: Executive Vice President             Title: Executive Vice President


                                            MILLENNIUM MANAGEMENT, L.L.C.

   /s/ Israel A. Englander by Simon         By:  /s/ David Nolan
Lorne pursuant to Power of Attorney            ---------------------------------
filed with SEC on June 6, 2005                 Name:  David Nolan
-------------------------------------          Title: Executive Vice President
ISRAEL A. ENGLANDER