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Healthcare Realty Trust Incorporated (NYSE:HR ) Q3 2024 Earnings Conference Call October 30, 2024 11:00 AM ET Company Participants Ron Hubbard – Vice President-Investor Relations Todd Meredith – President and Chief Executive Officer Austen Helfrich – Interim Chief Financial Officer Conference Call Participants Austin Wurschmidt – KeyBanc Capital Markets Juan Sanabria – BMO Capital Markets John Kilichowski – Wells Fargo Michael Griffin – Citi Rich Anderson – Wedbush Jonathan Hughes – Raymond James Omotayo Okusanya – Deutsche Bank Mike Mueller – JPMorgan Emily Meckler – Green Street Nick Yulico – Scotiabank Operator Good afternoon. Thank you for attending the Healthcare Realty Third Quarter 2024 Earnings Conference Call.
While the top- and bottom-line numbers for Healthcare Realty Trust (HR) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Healthcare Realty Trust (HR) came out with quarterly funds from operations (FFO) of $0.39 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to FFO of $0.39 per share a year ago.
Healthcare REITs have returned 28% YTD, outperforming the S&P 500 and NASDAQ 100, and are only outpaced by Cannabis and Billboards sectors. Healthcare Realty Trust has underperformed, with a total return of just 6.62% YTD, despite a high 7.2% dividend yield. HR's heavy debt load, declining FFO, and high payout ratio raise concerns about the company's potential for a dividend cut.
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H&R REIT's Q2 2024 results show steady overall performance. The office segment saw a write-down in downtown Toronto properties. H&R is now using 8.67% cap rates on its office properties.
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HR's Q2, 2024 earnings report showed positive same store NOI growth, but a decrease in normalized FFO per share. Despite asset disposals and debt repayments, HR's FAD continues to be below the quarterly dividend, raising concerns about dividend coverage. HR's long-term prospects are positive due to healthcare industry trends, but current uncertainties make it a risky investment, especially for dividend investors.
Healthcare Realty Trust Incorporated (NYSE:HR ) Q2 2024 Earnings Conference Call August 2, 2024 12:00 PM ET Company Participants Ron Hubbard - Vice President, Investor Relations Todd Meredith - President and Chief Executive Officer Kris Douglas - Executive Vice President and Chief Financial Officer Rob Hull - Executive Vice President, Investments Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Michael Griffin - Citi Michael Mueller - JPMorgan Richard Anderson - Wedbush Securities John Kilichowski - Wells Fargo Emily Meckler - Green Street Omotayo Okusanya - Deutsche Bank Operator Good afternoon. Thank you for attending the Healthcare Realty Second Quarter Earnings Conference Call.
The headline numbers for Healthcare Realty Trust (HR) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Healthcare Realty Trust (HR) came out with quarterly funds from operations (FFO) of $0.38 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.39 per share a year ago.