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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) 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.
Healthcare Realty Trust (NYSE:HR) has released its second annual Corporate Responsibility Report detailing its Environmental, Social, and Governance (ESG) initiatives. The report establishes initial Key Performance Indicators (KPIs) aligned with U.N. Sustainable Development Goals. The company also announced the expansion of Carla Baca's role to lead Corporate Responsibility initiatives, in addition to her current investor relations responsibilities. As of September 30, 2020, Healthcare Realty owned 211 properties totaling 15.5 million square feet, valued at approximately $5.5 billion.
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.
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