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Sep 30, 2021
Healthcare Realty Q3 2021 Earnings Report
Reported strong results driven by strategic partnerships and portfolio performance.
Key Takeaways
Healthcare Trust of America reported a positive third quarter, marked by an increase in FFO per diluted share and strategic investments. The company's portfolio performance remained robust, with a leased rate increase and successful lease executions. HTA is actively engaged in a strategic review process to enhance shareholder value.
Net income attributable to common stockholders was $0.10 per diluted share.
FFO increased by 41.9% compared to Q3 2020, reaching $0.44 per diluted share.
Same-Property Cash Net Operating Income (NOI) grew by 2.5% compared to Q3 2020.
Closed on four medical office building investments totaling $135 million with 469,000 square feet of GLA at anticipated in-place year one yields of 5.7%.
Healthcare Realty
Healthcare Realty
Healthcare Realty Revenue by Segment
Revenue by Segment
Interest Income Revenue
CapyFin.com Forward Guidance
HTA updates its 2021 guidance with net income attributable to common stockholders per share between $0.44 and $0.48, Same-Property Cash NOI between 2.0% and 2.5%, FFO per share as defined by NAREIT between $1.73 and $1.77, and Normalized FFO per share between $1.75 and $1.77.
Positive Outlook
- $400 - $500 million of investments at an average 5.5% to 6.0% yield
- General and administrative costs of $43 - $46 million
- Developments being substantially completed as planned
- Average fully diluted shares of between 224 and 225 million fully diluted shares of common stock outstanding, with proceeds from equity previously raised on a forward basis being utilized to fund acquisitions as they close.
- HTA expects leverage to range between 5.5x and 6.0x throughout the year.
Challenges Ahead
- The 2021 guidance is based on a number of assumptions that are subject to change and many of which are beyond HTA’s control.
- HTA’s guidance does not contemplate impacts from gains or losses from dispositions, potential impairments, or debt extinguishment costs, if any.
- If actual results vary from these assumptions, HTA’s expectations may change.
- The lower end of the range assumes settlement of forward equity agreements without deployment of cash proceeds for investments.
- There can be no assurance that HTA will achieve these results.