Healthcare Realty Trust Announces Participation in Citi's 2025 Global Property CEO Conference and Provides Update on Rent Collection From Prospect Medical
Rhea-AI Summary
Healthcare Realty Trust (NYSE:HR) announced its participation in Citi's 2025 Global Property CEO Conference scheduled for March 3-4, 2025. The company has also provided an update regarding rent collection from Prospect Medical, which filed for Chapter 11 bankruptcy on January 11, 2025.
The REIT collected partial rent payments from Prospect Medical for January and February 2025, amounting to $0.4 million. Prospect Medical currently leases 81,000 square feet from Healthcare Realty, representing approximately $2.9 million in annual revenue. The company cautioned that there is no guarantee of recovering additional unpaid rent or timely reletting of any spaces rejected in bankruptcy.
Healthcare Realty, as the first and largest REIT specializing in medical outpatient buildings, maintains a portfolio of over 650 properties totaling 38.4 million square feet across 15 growth markets, primarily located around market-leading hospital campuses.
Positive
- Portfolio of 650+ properties with 38.4M sq ft in 15 growth markets
- Partial rent collection of $0.4M from bankrupt tenant
Negative
- Tenant Prospect Medical filed for Chapter 11 bankruptcy
- Risk of not recovering remaining rent from $2.9M annual lease
- Potential vacancy risk from bankruptcy lease rejection
News Market Reaction
On the day this news was published, HR gained 1.90%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NASHVILLE, Tenn., Feb. 28, 2025 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) (“Healthcare Realty” or the “Company”) today announced that members of the Company’s management team will participate in Citi’s 2025 Global Property CEO Conference on March 3 – 4, 2025. The Company also published an updated investor presentation in advance of the conference and other upcoming investor meetings. The presentation is available at the Investor Relations section of the company’s website at https://investors.healthcarerealty.com/corporate-profile/.
Healthcare Realty also announced the partial collection of rent payments from Prospect Medical for the months of January and February 2025, totaling
About Healthcare Realty
Healthcare Realty is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty's portfolio includes over 650 properties totaling 38.4 million square feet concentrated in 15 growth markets. For more information regarding Healthcare Realty, visit www.healthcarerealty.com.
Investor Contact:
Ron Hubbard
Vice President, Investor Relations
P: 615.269.8290
In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty, including its Annual Report on Form 10-K for the year ended December 31, 2024 under the heading “Risk Factors,” and in its Quarterly Reports filed thereafter and in the Company’s other SEC filings. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements.
FAQ
How much rent did Healthcare Realty (HR) collect from Prospect Medical in early 2025?
What is the annual revenue impact of Prospect Medical's lease for Healthcare Realty (HR)?
When did Prospect Medical file for bankruptcy protection affecting Healthcare Realty (HR)?
What is the current portfolio size of Healthcare Realty Trust (HR)?
