Healthcare Realty Trust Incorporated ( (HR) ) has released its Q4 earnings. Here is a breakdown of the information Healthcare Realty Trust Incorporated presented to its investors.
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Healthcare Realty Trust Incorporated is a real estate investment trust specializing in the ownership and operation of medical outpatient buildings, primarily located near leading hospital campuses across the United States.
In its latest earnings report for the fourth quarter ending December 31, 2024, Healthcare Realty Trust announced a net loss attributable to common stockholders of $106.8 million, or $0.31 per diluted share. The company also declared a quarterly dividend of $0.31 per share, maintaining its commitment to shareholder returns despite the challenging financial results.
The company reported a normalized funds from operations (FFO) of $0.40 per share for the quarter, marking a 2.5% increase from the previous year and aligning with the high end of its guidance. Healthcare Realty Trust also saw strong leasing activity with 686,000 square feet of new leases signed, achieving a new single-quarter record for the company. The company’s strategic capital allocation included closing joint ventures and asset sales totaling $522 million in the fourth quarter, contributing to approximately $1.3 billion in proceeds for the year.
Despite the net loss, the company made significant progress in re-leasing spaces previously occupied by Steward Health, with over 80% of the space re-leased. However, the recent Chapter 11 bankruptcy filing by Prospect Medical is expected to impact revenue in 2025, as projected guidance assumes no revenue collection from Prospect leases.
Looking forward, Healthcare Realty Trust remains cautiously optimistic about its prospects, with 2025 guidance reflecting expectations for normalized FFO per share between $1.56 and $1.60 and same-store cash NOI growth estimated to range from 3.00% to 3.75%, excluding impacts from Prospect Medical and Steward Health.
