earnings
confidence high
sentiment positive
materiality 0.75
Healthcare Realty Q2 normalized FFO $0.38; raises 2024 guidance to $1.53-$1.58
Healthcare Realty Trust Inc
2024-Q2 EPS reported
-$1.22
revenue$643,127,000
- Q2 net loss to common stockholders $143.8M ($0.39 diluted); normalized FFO $0.38 per share ($0.39 excl. $3M Steward reserves).
- Generated ~$400M from JV and asset sales YTD; expects >$1B total, majority in Q3. Repurchased 18.5M shares for $294.5M.
- Same Store cash NOI +2.3% YoY (+3.5% excl. Steward reserves); multi-tenant occupancy up 37 bps to 85.9%, leased 87.6%.
- Raised 2024 normalized FFO per share guidance to $1.53-$1.58 (was affirmed prior); partial-year net accretion ~$0.01 from buybacks.
- Dividend $0.31/sh payable Aug 28; net debt/EBITDA 6.6x, expected ~6.4x after pending transactions.