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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) 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.
Healthcare Realty Trust (NYSE:HR) reported its Q1 2021 results, showing a net income of $24.0 million or $0.17 per diluted share. The company’s normalized FFO reached $58.3 million ($0.42 per diluted share), a 2.6% increase from Q1 2020. Key highlights include a 2.1% increase in same-store cash NOI and a strong tenant retention rate of 88.5%. The company acquired seven medical office buildings for $76.6 million and funded $69.4 million net of joint venture contributions. A quarterly dividend of $0.3025 per share was declared, payable May 28.
Healthcare Realty Trust announced a cash dividend of $0.3025 per share, payable on May 28, 2021 to stockholders of record on May 17, 2021. The company manages 227 properties across 24 states, totaling 16.4 million square feet, with an estimated value of $5.7 billion. Healthcare Realty focuses on real estate related to outpatient healthcare services.
Healthcare Realty Trust (NYSE:HR) will report its Q1 2021 results on May 5, 2021, after market close. A conference call is scheduled for May 6, 2021, at 11:00 a.m. CT to discuss earnings, company operations, and industry trends. The company owns 227 properties across 24 states, totaling 16.4 million square feet, with a valuation of approximately $5.7 billion. They offer extensive leasing and property management services over 12.6 million square feet nationwide. Forward-looking statements are included, discussing risks related to the business.
Healthcare Realty Trust (NYSE:HR) has announced a cash dividend increase to $0.3025 per share, payable on March 9, 2021, to stockholders of record on February 22, 2021. This marks an increase from the previous $0.30 per share. As of December 31, 2020, the company owned 227 properties across 24 states, covering 16.4 million square feet, with a total valuation of approximately $5.7 billion. Healthcare Realty Trust specializes in managing real estate related to outpatient healthcare services.
Healthcare Realty Trust reported a net loss of $15.9 million, or $0.12 per share, for Q4 2020, while achieving a net income of $72.2 million for the full year. The quarterly results were impacted by $21.9 million in debt financing costs. Normalized FFO was $56.6 million for the quarter and $222.2 million for the year, showing a year-over-year increase. The company collected over 99% of rents due and reported a tenant retention rate of 84.2%. Additionally, it acquired 16 medical office buildings for $336.7 million, enhancing its real estate portfolio.
Healthcare Realty Trust (NYSE:HR) announced its fourth quarter earnings conference call will take place at 11:00 a.m. CT on February 11, 2021, following a change to accommodate numerous earnings calls. The financial results for Q4 2020 will be released after market close on February 10, 2021. The company owns 211 properties across 24 states, totaling 15.5 million square feet and valued at approximately $5.5 billion. Healthcare Realty Trust provides leasing and property management services for 11.9 million square feet nationwide.
Healthcare Realty Trust (NYSE: HR) will share its fourth-quarter 2020 results on February 10, 2021, after market close. A conference call is set for February 11, 2021, at 10:00 a.m. Central Time to discuss earnings and company operations. The company owns 211 properties across 24 states, totaling 15.5 million square feet, with a valuation of approximately $5.5 billion. The firm provides property management services for 11.9 million square feet nationwide. Forward-looking statements regarding risks are included in their SEC filings.
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