Healthcare Realty Trust IncorporatedNYSE: HR

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.

NASHVILLE, Tenn., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) today announced that it expects to report results for the third quarter of 2024 on Wednesday morning, October 30, 2024, before the market opens.

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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Increases leadership alignment with operational and capital allocation initiatives Reaffirms forward-looking guidance and expectations for 2024 NASHVILLE, Tenn., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust today announced key leadership changes to extend the Company's operational momentum and increase focus on execution, acceleration of growth, and accretive capital allocation.

NASHVILLE, Tenn., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) completed the contribution of eight properties for $193 million in a joint venture with Nuveen Real Estate (“Nuveen”). The new 80/20 JV obtained secured financing for approximately 40% of the contribution value. This previously announced JV expansion brings the total value of JVs with Nuveen to over $600 million.

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.