Healthcare Realty Trust Reports Q4 Results, Highlights Transformation

Healthcare Realty Trust ( (HR) ) has issued an update.

Healthcare Realty Trust reported fourth-quarter 2025 results on February 12, 2026, highlighting same-store cash NOI growth of 5.5%, strong tenant retention, 1.5 million square feet of lease executions, and GAAP net income of $0.04 per share. For full year 2025, the company posted a GAAP net loss of $0.71 per share but generated $1.61 per share in Normalized FFO, completed $1.2 billion of asset sales through February 2026 at a 6.7% blended cap rate, reduced net debt to adjusted EBITDA to 5.4x, refinanced and extended key debt facilities, cut run-rate G&A by $10 million, refreshed its leadership team, and launched a $600 million commercial paper program while exiting several non-core markets to sharpen its core medical office portfolio and support long-term growth.

The company executed significant leasing with major health system partners in markets including Memphis, Austin, Hartford and Charlotte, helping drive occupancy gains and improved leasing spreads in 2025. Strategic dispositions included a 25-property portfolio sale and full exits from several secondary MSAs such as El Paso, Des Moines, Fort Wayne, Cincinnati, Salt Lake City, Las Vegas, Kokomo and Jacksonville, signaling a shift toward higher-priority markets and a stronger balance sheet following a year the CEO characterized as transformational for governance, capital allocation and operating performance.

The most recent analyst rating on (HR) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Healthcare Realty Trust stock, see the HR Stock Forecast page.

Spark’s Take on HR Stock

According to Spark, TipRanks’ AI Analyst, HR is a Neutral.

Healthcare Realty Trust’s overall stock score is driven by its mixed financial performance and bearish technical indicators. The earnings call provides a positive outlook with strong NOI growth and improved leverage, but ongoing profitability challenges and a high volume of asset dispositions weigh on the score. The attractive dividend yield offers some valuation support, but the negative P/E ratio reflects underlying financial difficulties.

To see Spark’s full report on HR stock, click here.

More about Healthcare Realty Trust

Healthcare Realty Trust Incorporated is a publicly traded real estate investment trust specializing in medical office buildings and outpatient healthcare facilities across the U.S. The company focuses on on-campus and affiliated outpatient properties, partnering with major health systems to provide leased medical space and leveraging long-term trends in demand for outpatient services.

Average Trading Volume: 3,112,663

Technical Sentiment Signal: Buy

Current Market Cap: $6.1B

For detailed information about HR stock, go to TipRanks’ Stock Analysis page.