Healthcare Realty Trust Incorporated (HR) has disclosed a new risk, in the Debt & Financing category.
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Healthcare Realty Trust Incorporated faces significant financial challenges due to the recent bankruptcies of its tenants, Steward Health and Prospect Medical Holdings. Steward Health’s bankruptcy has resulted in the rejection of leases totaling approximately 349,000 square feet, leading to an annual revenue loss of approximately $13.0 million. Although the company received $2.2 million for prior rent owed under certain assumed leases, there remains uncertainty in recovering an outstanding $2.3 million through bankruptcy proceedings. Additionally, with Prospect Medical Holdings’ bankruptcy impacting $2.9 million in annual rental revenue, the company transitioned to cash basis accounting, recording a $0.7 million revenue reduction in the fourth quarter, further complicating its financial outlook.
Overall, Wall Street has a Moderate Sell consensus rating on HR stock based on 2 Sells and 3 Holds.
To learn more about Healthcare Realty Trust Incorporated’s risk factors, click here.
