Healthcare Realty Trust Incorporated - HR STOCK NEWS

Healthcare Realty Trust reported Q3 2024 results with a net loss of $(93.0) million, or $(0.26) per share. Key highlights include Normalized FFO per share of $0.39, up 1.2% year-over-year. The company secured $875 million from joint venture and asset sales through October, with $447 million in share repurchases. Multi-tenant absorption reached 159,000 square feet, with occupancy at 86.5%. Same Store cash NOI increased 3.1% year-over-year, with tenant retention at 80.5%. The company maintained its quarterly dividend at $0.31 per share and updated its 2024 Normalized FFO guidance to $1.55-$1.56 per share.

Healthcare Realty Trust (NYSE:HR) has declared a quarterly cash dividend of $0.31 per share, payable on November 27, 2024, to Class A common stockholders of record on November 12, 2024. The company's operating partnership unit holders will receive an equivalent distribution of $0.31 per unit. Healthcare Realty operates as a REIT specializing in medical outpatient buildings, with a portfolio of over 650 properties spanning nearly 40 million square feet across 15 growth markets.

Healthcare Realty Trust Incorporated (NYSE:HR) has announced its schedule for reporting third quarter 2024 earnings. The company plans to release results on Wednesday, October 30, 2024, before the market opens. A conference call to discuss earnings, quarterly activities, and industry trends is scheduled for the same day at 11:00 a.m. Eastern Time.

A simultaneous webcast of the conference call will be available on the company's website under the Investor Relations section. The press release provides details for domestic and international dial-in numbers, as well as replay information. Healthcare Realty Trust is a real estate investment trust (REIT) specializing in medical outpatient buildings, with a portfolio of nearly 675 properties totaling approximately 40 million square feet across 15 growth markets.

Healthcare Realty Trust (NYSE:HR) has expanded its joint venture (JV) with Nuveen Real Estate, contributing eight properties worth $193 million to a new 80/20 JV. This brings the total value of JVs with Nuveen to over $600 million. Year-to-date, HR has completed over $800 million in JV and asset sales transactions, generating approximately $700 million in proceeds at an average cap rate of 6.6%.

The company expects additional asset sales and JV transactions to increase total proceeds to over $1 billion. These funds will be used for accretive, leverage neutral share repurchases and existing capital commitments. The expansion demonstrates HR's progress towards its goal of generating more than $1 billion in capital and highlights the value of its national operating platform in the outpatient medical real estate sector.

Healthcare Realty Trust (NYSE:HR) has expanded its joint venture with KKR, contributing $118 million in additional properties and generating approximately $94 million in proceeds. The JV's value is now approaching $500 million. The company is exploring further acquisitions for the JV, including potential contributions of more Healthcare Realty properties.

Healthcare Realty also has additional asset sales and JV transactions under contract or LOI, expected to increase total proceeds to over $1 billion. Most of these transactions are anticipated to be completed in the third quarter, with proceeds funding accretive, leverage neutral share repurchases and existing capital commitments.

Healthcare Realty Trust (NYSE:HR) reported results for Q2 2024, focusing on capital allocation and operational momentum to accelerate FFO growth and improve dividend coverage. Key highlights include:

- Generated ~$400 million from JV and asset sales, with expected proceeds to exceed $1 billion
- Repurchased 18.5 million shares for $294.5 million
- Delivered multi-tenant absorption of 183,000 sq ft year-to-date
- Improved tenant retention to 85.5%
- Net loss of $(143.8) million, or $(0.39) per diluted share
- Normalized FFO per share of $0.38, or $0.39 excluding Steward revenue reserves
- Same Store cash NOI increased 2.3% YoY (3.5% excluding Steward reserves)
- Affirmed 2024 Normalized FFO per share guidance of $1.53 to $1.58

Healthcare Realty Trust (NYSE:HR) has announced a quarterly cash dividend of $0.31 per share for its common stock, payable on August 28, 2024 to Class A common stockholders of record on August 12, 2024. The company's operating partnership unit holders will receive an equivalent distribution of $0.31 per unit.

Healthcare Realty is a real estate investment trust (REIT) specializing in medical outpatient buildings. It owns and operates nearly 700 properties totaling over 40 million square feet across 15 growth markets. The company focuses on properties located around market-leading hospital campuses and expands its portfolio through strategic acquisitions and development.

Healthcare Realty Trust (NYSE:HR) has released its sixth annual Corporate Responsibility Report, highlighting its 2023 ESG initiatives and achievements. The company received a GRESB 3 Green Star rating with a score of 75 and an 'A' in GRESB's Public Disclosure rating. Key accomplishments include:

- Achieving whole-building utility coverage for 71% of the portfolio
- Obtaining 28 new green building certifications
- Increasing board diversity to 42% women and/or racially diverse directors
- Setting new ESG goals for reductions in energy, water, and greenhouse gas emissions by 2032

The report aligns with TCFD and SASB standards, demonstrating Healthcare Realty's commitment to sustainability and transparency in its operations as a leading medical outpatient building REIT.