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Healthcare Realty Trust gets an initial rating of hold, agreeing with the consensus today. Upside factors include macro data forecasting continued demand for outpatient care, and population growth in a key region for this REIT. The REIT has a strong tenant retention rate above 80%, and has been growing its property portfolio.
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Austen Helfrich named permanent Executive Vice President and Chief Financial OfficerAndrew Loope will succeed John Bryant as Executive Vice President and General Counsel; Bryant to remain as Senior Vice President aAdsList.push('Article'); aAdsListSize.push([300, 250]); aAdsListCA.push(null); NASHVILLE, Tenn., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) today announced key leadership changes. Austen Helfrich, who has served as Interim Chief Financial Officer since October 1, 2024, has been formally appointed as the Company’s permanent Executive Vice President and Chief Financial Officer, effective immediately. As part of a planned transition, Andrew Loope, Senior Vice President, Corporate Counsel and Secretary, will be promoted to Executive Vice President, General Counsel, and Secretary, succeeding John Bryant, effective January 1, 2025. Mr. Bryant will continue to serve as Executive Vice President and General Counsel through December 31, 2024, and will then remain with the Company in the role of Senior Vice President, Legal Affairs. “Healthcare Realty is fortunate to have someone of Austen’s talent and caliber ready to take on the role of permanent CFO. Since first joining Healthcare Realty in 2019, he has been instrumental in the formation and expansion of the Company’s joint venture program, including partnerships with Nuveen, CBRE Investment Management and KKR. His significant financial acumen and industry experience will be invaluable to the Company as we continue to drive long-term shareholder value,” said Constance “Connie” Moore, interim President and CEO.Moore continued, “Andrew Loope has been a trusted advisor to the Company since joining our legal department from the Waller Lansden (now Holland & Knight) law firm in 2008. John Bryant has dedicated more than 20 years of his professional career to Healthcare Realty. We are grateful for his many meaningful contributions as General Counsel and look forward to working closely with him and Andrew as they continue leading our legal team.”Ferguson Partners assisted the Board of Directors in the CFO search process. About Healthcare RealtyHealthcare Realty is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty’s portfolio includes nearly 675 properties totaling approximately 40 million square feet concentrated in 15 growth markets. Additional information regarding the Company can be found at www.healthcarerealty.com. Media Contacts:Charlie Koons / Craig SingerBrunswick GroupP; 212.333.3810 Investor Contact:Ron HubbardVice President, Investor RelationsP: 615.269.8290In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty, including its Annual Report on Form 10-K for the year ended December 31, 2023 under the heading “Risk Factors,” and in its Quarterly Reports filed thereafter and in the Company’s other SEC filings. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements. Source: Healthcare Realty Trust Incorporated2024 GlobeNewswire, Inc., source Press Releases
Starboard Value disclosed a stake in Healthcare Realty Trust. The real estate investment trust is at an inflection point.
We sold out of H&R REIT profitably as it moved to $11.00 a share. Q3-2024 showed that same property NOI was now declining. We remain optimistic over the longer run and tell you where we may repurchase our sold-out shares.
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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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