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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) revealed its 2021 acquisition and disposition activities, acquiring 44 buildings totaling 2.1 million square feet for $756 million at a cap rate of 5.3%, surpassing its guidance of $700 million. In Q4 alone, 19 buildings were acquired for $298 million. The company sold 17 medical office buildings for $188 million at a cap rate of 4.9%. Currently, HR has 14 buildings under letter of intent for acquisition, valued at $300 million, and plans to divest approximately $100 million in assets. With a total enterprise value of $6.1 billion, HR continues to expand its portfolio.
Healthcare Realty Trust reported a net loss of $2.1 million, or $0.02 per diluted share for Q3 2021. However, normalized FFO rose 6.4% to $62.4 million, or $0.43 per share. Same store cash NOI increased 1.8% year-over-year. The company acquired ten medical office buildings for $164.6 million in Q3, bringing total acquisitions this year to 26 properties worth $481.1 million. The company maintained a dividend of $0.3025 per share, representing 90.6% of FAD.
Healthcare Realty Trust (NYSE:HR) has declared a cash dividend of $0.3025 per share, payable on November 30, 2021, for stockholders recorded by November 15, 2021. The company, a real estate investment trust, manages properties focused on outpatient healthcare services across the U.S. As of June 30, 2021, it owned 236 properties in 24 states, totaling 16.9 million square feet with an approximate enterprise value of $6.0 billion.
Healthcare Realty Trust (NYSE:HR) will report its third quarter 2021 results on November 3, 2021, after market close. A conference call is scheduled for November 4, 2021, at 11:00 a.m. CT to discuss earnings and company activities. As of June 30, 2021, the Trust owned 236 properties across 24 states, encompassing 16.9 million square feet, with an enterprise value of approximately $6 billion. The company operates primarily in outpatient healthcare real estate.
Healthcare Realty Trust announced its second-quarter results for 2021, reporting a net income of $23.1 million or $0.16 per diluted share. Normalized FFO increased to $60.8 million ($0.43 per diluted share). Same store cash NOI rose by 2.9%, with a year-over-year growth of 2.3%. The Company acquired eight medical office buildings for $216.9 million, totaling 467,000 square feet, and plans to develop a new 106,000 square foot medical office building in Nashville. A dividend of $0.3025 per share will be payable on August 31, 2021.
Healthcare Realty Trust (NYSE:HR) announced a common stock cash dividend of $0.3025 per share, payable on August 31, 2021, to stockholders of record on August 16, 2021. As of March 31, 2021, the company owned 228 properties in 24 states, totaling 16.5 million square feet, with an enterprise value of approximately $5.9 billion. The firm provides leasing and property management services covering 13.1 million square feet nationally. For further details, visit healthcarerealty.com.
Healthcare Realty Trust (NYSE:HR) plans to release its Q2 2021 earnings on August 4, 2021, after market close. A conference call discussing the results, operations, and industry trends is scheduled for August 5 at 11:00 a.m. CT. The company owns 228 properties across 24 states with a total of 16.5 million square feet and an enterprise value of approximately $5.9 billion as of March 31, 2021. Investors can access the conference call and replay via their website.
Healthcare Realty Trust (NYSE:HR) has acquired three medical office buildings for $140.8 million, increasing its year-to-date acquisitions to $269.5 million. Located in San Diego, Los Angeles, and Houston, the properties are fully leased and strategically expand the company’s footprint in existing markets. Notably, the San Diego building is a 160,000 square foot facility leased to Palomar Health. The company is also poised for additional property purchases exceeding $200 million within its markets, pending closing conditions.
Healthcare Realty Trust has announced the appointment of Julie F. Wilson as its new Executive Vice President – Operations, effective July 1, 2021. Ms. Wilson, who has been with the company since 2001, will oversee its 228 properties and 3,000 tenants, managing a team of around 200 employees. The company, valued at approximately $5.9 billion, focuses on real estate associated with outpatient healthcare services across the U.S. This leadership change aims to enhance operations as the company continues to grow its real estate portfolio.
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