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Healthcare Realty Trust Incorporated (NYSE: HR) is a pioneering real estate investment trust (REIT) that specializes in the ownership, management, development, and financing of medical office and outpatient healthcare properties across the United States. Founded in 1992 and headquartered in Nashville, Tennessee, Healthcare Realty Trust has built a robust portfolio comprising nearly 700 properties, totaling over 40 million square feet, concentrated in 15 high-growth markets.
Core Business: The company's primary focus is on medical outpatient buildings, strategically located around leading hospital campuses. These facilities are integral to the operations of hospitals and healthcare systems, providing a stable and growing rental income. Healthcare Realty Trust's portfolio is diversified by geographic location, physician specialties, and healthcare system affiliations, ensuring a balanced and resilient investment strategy.
Recent Achievements: In 2023, Healthcare Realty Trust completed additional dispositions totaling $656 million, excluding $112.5 million in asset sales in January that fully repaid a merger-related special dividend. The company has also entered into a strategic joint venture with global investment firm KKR, contributing a seed portfolio valued at $382.5 million. This partnership is expected to generate proceeds of approximately $300 million, with KKR committing up to $600 million for future acquisitions.
Current Projects: The joint venture with KKR will see Healthcare Realty retaining a 20% interest and continuing to manage the day-to-day operations and leasing of the properties. This strategic move underscores the company's commitment to expanding its portfolio and enhancing its financial stability. Additionally, Healthcare Realty has several transactions under contract, expected to generate over $300 million by early August 2024.
Financial Condition: For the first quarter ended March 31, 2024, the company reported a net loss of $310.8 million, or $(0.82) per diluted common share. However, the normalized funds from operations (FFO) per share stood at $0.39. The company's strategic capital allocation, including share repurchases totaling over $175 million since April 2024, aims to improve dividend coverage and accelerate FFO growth.
Partnerships and Market Position: Healthcare Realty Trust collaborates with developers who have strong local ties to healthcare systems and physicians, ensuring the acquisition and development of high-quality medical facilities. The company's selective growth strategy through property acquisitions and development has solidified its position as the largest REIT specializing in medical outpatient buildings.
For the latest updates and detailed information about Healthcare Realty Trust's performance, projects, and financial reports, visit www.healthcarerealty.com.
Healthcare Realty Trust (NYSE:HR) has announced a joint venture with Teachers Insurance and Annuity Association (TIAA) to invest in medical office buildings, enhancing its investment volume and earnings growth potential. The company holds a 50% interest in the venture, aiming to purchase around $200 million in properties annually without significant property-level debt. The first property acquired was a $16.6 million building in Minneapolis at a 5.1% cap rate. As of September 30, 2020, Healthcare Realty managed properties valued at approximately $5.5 billion.
Healthcare Realty Trust (NYSE:HR) reported a net income of $8.2 million or $0.06 per diluted share for Q3 2020, while normalized FFO reached $54.8 million, equivalent to $0.41 per share. Key metrics show a 2.4% increase in same-store cash NOI year-over-year and a tenant retention rate of 85.1%. The Company acquired seven medical office buildings for $117.1 million and plans to purchase 12 additional properties for $276 million. A quarterly dividend of $0.30 was declared, representing 88.1% of FAD. As of September 30, 2020, HR's total owned real estate was valued at approximately $5.5 billion.
Healthcare Realty Trust (NYSE:HR) declared a quarterly cash dividend of $0.30 per share, payable on December 1, 2020, to shareholders on record as of November 16, 2020. The company, which focuses on real estate for outpatient healthcare, owned 210 properties across 24 states as of June 30, 2020, totaling 15.5 million square feet and valued at approximately $5.5 billion.
Healthcare Realty Trust (NYSE:HR) will report its third-quarter 2020 results on November 4, 2020, after market close. A conference call is scheduled for November 5, 2020, at 10:00 a.m. Central Time to discuss earnings, quarterly activities, and operations. The Company specializes in owning and managing real estate properties for outpatient healthcare services, owning 210 properties totaling 15.5 million square feet, valued at approximately $5.5 billion as of June 30, 2020.
Healthcare Realty Trust (NYSE: HR) announced plans to redeem all outstanding 3.75% Senior Notes due 2023, totaling $270.5 million. The redemption will be funded through proceeds from a new issuance of 2.05% Senior Notes due 2031, expected to close on October 2, 2020. The company anticipates a charge of approximately $21.5 million related to this early extinguishment, which includes $1.1 million in unamortized costs. The redemption is set for October 18, 2020, at which point the Notes will cease to accrue interest.
Healthcare Realty Trust (NYSE: HR) announced the offering of $300 million in 2.05% senior unsecured notes due March 2031, priced at 99.189% to yield 2.137% at maturity. The estimated net proceeds of $294.8 million will be used to redeem existing 3.75% senior notes due 2023 and for other corporate purposes, including debt repayment. The offering is subject to customary closing conditions and is expected to close on October 2, 2020. The company manages a portfolio of 210 properties valued at approximately $5.5 billion.
Healthcare Realty Trust (NYSE:HR) announced its Q2 2020 results, reporting a net income of $75.5 million or $0.56 per diluted share. The normalized FFO was $56.3 million, equating to $0.42 per diluted share, a 5.0% increase year-over-year. The company collected 99% of its rent, with 2% deferred and repayment scheduled by year-end. They acquired four medical office buildings for $83.2 million and sold two properties for $244.5 million. A dividend of $0.30 per share was declared, with dividends paid at 71.9% of normalized FFO.
Healthcare Realty Trust (NYSE: HR) announced a cash dividend of $0.30 per share for the quarter ending June 30, 2020. This dividend is payable on August 31, 2020 to shareholders recorded by August 17, 2020. The company owns 212 properties across 25 states, totaling 15.8 million square feet, valued at approximately $5.3 billion. It also provides leasing and property management services for 12 million square feet nationally.
Healthcare Realty Trust (NYSE: HR) plans to report its second quarter results on August 5, 2020, after market close. A conference call is scheduled for August 6, 2020, at 10:00 a.m. Central Time to discuss earnings, operations, and industry trends. The company owns 212 properties across 25 states, totaling 15.8 million square feet, valued at around $5.3 billion. It also manages 12 million square feet of real estate nationally. Risks associated with forward-looking statements are highlighted in their SEC filings.
Healthcare Realty Trust (NYSE:HR) reported a net income of $4.3 million or $0.03 per diluted share for Q1 2020. Normalized FFO reached $54.5 million ($0.41 per share), reflecting a 4.4% year-over-year increase. Revenues grew by 2.7%, with same-store cash NOI up 2.4%. The company acquired seven medical office buildings for $102 million, totaling 339,000 square feet. A dividend of $0.30 per share was declared, totaling $40.4 million. As of March 31, 2020, HR owned 212 properties across 25 states, valued at roughly $5.3 billion.
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