Healthcare Tr Amer Stock Price, News & Analysis

Healthcare Realty Trust Incorporated (NYSE: HR) is a real estate investment trust (REIT) focused on healthcare-related properties. The company is described in its public disclosures as the largest pure-play owner, operator and developer of medical outpatient buildings in the United States. It is incorporated in Maryland and maintains its principal executive offices in Nashville, Tennessee. Healthcare Realty’s shares trade on the New York Stock Exchange under the ticker symbol HR.

According to multiple company press releases, Healthcare Realty owns and operates medical outpatient buildings primarily located around market‑leading hospital campuses. The company notes that it selectively grows its portfolio through property acquisition and development. As the first REIT to specialize in medical outpatient buildings, Healthcare Realty reports a portfolio that includes hundreds of properties totaling tens of millions of square feet, concentrated in a defined group of growth markets in the United States.

Business focus and property strategy

Healthcare Realty’s business model centers on owning, leasing and managing outpatient medical buildings and other healthcare properties. The company’s disclosures state that it focuses on medical outpatient buildings located on or adjacent to hospital campuses, often around market‑leading health systems. These properties are used by health systems, physician groups and other healthcare service providers to deliver outpatient care.

The company highlights several aspects of its operating strategy in its quarterly results and corporate responsibility communications:

• Execution of new and renewal leases across its portfolio, measured in millions of square feet each quarter.
• Same‑store cash net operating income (NOI) growth and occupancy trends in its medical outpatient building portfolio.
• Tenant retention and cash leasing spreads on new and renewal leases.
• Development and redevelopment of medical outpatient buildings on or near hospital campuses in major U.S. markets.
• Capital allocation through asset sales and targeted market exits where properties are considered non‑core.

In its earnings releases, Healthcare Realty describes specific leasing activity with health systems and healthcare providers in markets such as Texas, Washington, Colorado, North Carolina and others, illustrating its focus on outpatient medical real estate around established hospital campuses.

Portfolio scale and markets

Healthcare Realty’s public communications describe a large, geographically diversified portfolio of medical outpatient buildings in the United States. The company reports that its portfolio includes more than 600 properties and over 36 million square feet of space, and in other disclosures notes approximately 640 to 650 properties totaling around 38 million square feet. These properties are described as being concentrated in 15 growth markets, and primarily located around market‑leading hospital campuses.

The company’s capital allocation updates note dispositions and strategic market exits in several metropolitan statistical areas. Examples cited in its quarterly releases include exits or reduced exposure in markets such as Yakima, Washington; South Bend, Indiana; Milwaukee, Wisconsin; Richmond, Virginia; and Naples, Florida, as well as sales of properties in locations like Columbus, Ohio; Chicago, Illinois; Tampa, Florida; Dallas, Texas; New York, New York; and other markets. These activities are presented as part of a broader effort to focus the portfolio on core growth markets and to recycle capital.

REIT structure and financial metrics

As a REIT, Healthcare Realty reports financial metrics commonly used in the real estate investment trust sector, such as funds from operations (FFO), normalized FFO, funds available for distribution (FAD), and same‑store cash NOI growth. Its quarterly press releases provide details on:

• GAAP net income or loss per share.
• NAREIT FFO per share and normalized FFO per share.
• FAD and payout ratios based on common stock dividends.
• Run‑rate net debt to adjusted EBITDA.
• Guidance ranges for earnings per share, FFO per share and same‑store cash NOI growth.

The company also discusses its balance sheet and liquidity position, including the size and maturity profile of its revolving credit facility and term loans. In an 8‑K filing, Healthcare Realty describes a Fifth Amended and Restated Revolving Credit and Term Loan Agreement that provides a multi‑billion‑dollar unsecured revolving credit facility and several unsecured term loan tranches, with interest rates tied to SOFR or base rate plus an applicable margin determined by credit ratings. The company notes that these facilities include covenants typical for REIT credit agreements, such as leverage and coverage ratios.

Capital markets and equity offering program

In a December 2025 Form 8‑K, Healthcare Realty reports entering into equity distribution agreements and related forward sale arrangements to establish an at‑the‑market equity offering program. Under this program, the company may offer and sell shares of its Class A common stock from time to time up to an aggregate offering price of up to a stated amount. The shares may be sold through designated sales agents in transactions deemed to be at‑the‑market offerings on the New York Stock Exchange or in privately negotiated transactions.

The company discloses that it intends to use net proceeds from the equity offering program for general corporate purposes, including the acquisition, development and redevelopment of healthcare facilities, and for contributions to its operating partnership in exchange for partnership units. The filing notes that certain sales agents and forward purchasers, or their affiliates, are lenders under Healthcare Realty’s unsecured credit facility, and that proceeds may be used to repay borrowings under that facility.

Leadership and governance

Healthcare Realty’s public filings and news releases describe several leadership and governance developments. In a May 2025 press release, the company announces the appointment of a new President and Chief Executive Officer, and notes that this individual is expected to join the Board of Directors following the annual meeting of stockholders. The same release notes that the prior interim President and CEO will continue to serve on the Board.

In June 2025, an 8‑K and accompanying press release report that five directors retired from the Board of Directors, and that the Board size was reduced from 12 to seven members. The company states that this reduction is intended to better align the Board’s size with practices in the REIT industry, and that the retiring directors did not report disagreements with the company on matters relating to operations, policies or practices.

In January 2026, an 8‑K and press release describe a transition in the Chief Financial Officer role. The Board appoints a new Executive Vice President and Chief Financial Officer effective January 12, 2026. The filing outlines the key terms of the new CFO’s employment agreement, including base salary, annual cash incentive opportunity, equity incentive awards, a make‑whole restricted stock award, relocation benefits, severance provisions and change‑in‑control protections. The company also notes that the outgoing CFO’s separation is treated as a termination other than for cause under his employment agreement and that his departure is not due to any disagreement with management or the external auditor.

Operations, leasing and development activity

Healthcare Realty’s quarterly earnings releases provide detail on its operating performance and leasing activity in its medical outpatient building portfolio. The company reports:

• Execution of hundreds of new and renewal leases each quarter, covering approximately 1.5 to 1.6 million square feet.
• Weighted average lease terms of more than five years and average annual rent escalators on new and renewal leases.
• Tenant retention rates and cash leasing spreads on medical office building leases.
• Same‑store occupancy levels and changes over time.

The company highlights specific leasing transactions in markets such as Memphis, Dallas, Fort Worth, Seattle, Houston and Orange County, involving health systems and healthcare service providers. These examples illustrate the company’s focus on on‑campus and campus‑adjacent medical outpatient buildings and its relationships with hospital systems.

Healthcare Realty also reports on its development and redevelopment pipeline. In its quarterly results, the company describes:

• Delivery of new medical outpatient buildings on hospital campuses, with disclosed square footage and leasing percentages.
• Redevelopment projects intended to convert existing buildings into modern outpatient facilities in markets such as Seattle, Denver and Charlotte.
• Medical conversion projects near hospitals in growing submarkets.

These development and redevelopment efforts are presented as a way to upgrade clinical space, support occupancy and rent growth, and capture demand from health systems and physician groups in targeted markets.

Dispositions and market repositioning

Healthcare Realty’s earnings releases describe an active disposition program. The company reports completing asset sales in multiple transactions each quarter, with total proceeds in the hundreds of millions of dollars. It also notes additional sales under contract or letters of intent.

The company provides examples of disposition activity, including:

• Monetization of off‑campus medical office buildings sold to affiliated health systems.
• Strategic exits from certain metropolitan areas where future growth opportunities are described as limited.
• Sales of fully stabilized assets at what the company characterizes as attractive or premium valuations.
• Targeted sales of under‑occupied or non‑core properties, including those with short ground lease terms.

In its commentary, Healthcare Realty links these dispositions to goals such as reducing exposure to non‑core markets, harvesting value from mature assets, and using proceeds for debt reduction and reinvestment in higher‑growth opportunities.

Balance sheet, liquidity and credit facilities

Healthcare Realty’s disclosures emphasize balance sheet management and liquidity. The company reports run‑rate net debt to adjusted EBITDA ratios and provides expectations for leverage levels by year‑end in its guidance. It also describes the use of asset sale proceeds to pay down debt, including repayment of term loans.

In a July 2025 8‑K, the company outlines the terms of its Fifth Amended and Restated Revolving Credit and Term Loan Agreement. This agreement provides for a large unsecured revolving credit facility with a maturity date that can be extended through options, and several unsecured term loan tranches with staggered maturities and extension options. Interest rates on these borrowings are based on SOFR or a base rate plus an applicable margin determined by the borrower’s credit ratings, and the revolving facility carries a commitment fee on undrawn commitments. The credit agreement includes financial covenants and events of default that are customary for facilities of this type and size.

Dividends and shareholder distributions

As a REIT, Healthcare Realty pays regular common stock dividends. Its quarterly earnings releases include Board approvals of common stock dividends stated on a per‑share basis, and note equivalent distributions to holders of operating partnership units. The company also discusses its payout ratio relative to FAD.

In a second quarter 2025 release, Healthcare Realty describes a reduction in its common stock dividend compared to the prior level. The company characterizes this change as a right‑sizing of the dividend and states that the objectives include mitigating refinancing risk on near‑term bonds, increasing retained earnings to fund return‑on‑capital investments in the existing portfolio, and supporting future earnings potential.

Corporate responsibility and ESG initiatives

Healthcare Realty publishes an annual Corporate Responsibility Report that summarizes its environmental, social and governance (ESG) initiatives and performance. In its seventh Corporate Responsibility Report, the company highlights:

• Recognition in the GRESB assessment, including a 2 Green Star rating and a Public Disclosure rating of “A” for transparency in sustainability reporting.
• Year‑over‑year reductions in energy and water consumption and in Scope 1 and 2 greenhouse gas emissions.
• Expanded reporting to include certain Scope 3 greenhouse gas emissions related to downstream leased assets and waste.
• Additional green building certifications, increasing the certified square footage in its portfolio.

The company states that these efforts reflect its focus on long‑term environmental targets and stewardship in the communities where it owns properties. The Corporate Responsibility Report also notes alignment of disclosures with frameworks such as the Task Force on Climate‑Related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB).

Regulatory filings and risk disclosures

Healthcare Realty files periodic and current reports with the U.S. Securities and Exchange Commission (SEC), including Forms 10‑K, 10‑Q and 8‑K. In its earnings releases, the company refers readers to the “Risk Factors” section of its Annual Report on Form 10‑K for a discussion of risks and uncertainties affecting its business. These communications also include forward‑looking statement disclaimers that describe factors that could cause actual results to differ from expectations, such as interest rates, capital availability, tenant performance, regulatory changes affecting tenants, acquisition and development risks, and other legal and operational matters.

Stock information and investor communications

Healthcare Realty’s common stock trades on the New York Stock Exchange under the symbol HR. The company regularly announces earnings release dates, conference calls and webcasts to discuss quarterly results, portfolio activity, operations and industry trends. Dial‑in details and webcast access information are provided in its press releases, and supplemental information packages and strategic plan presentations are made available to investors.

Through these disclosures, Healthcare Realty provides investors with information about its medical outpatient building portfolio, leasing and development activity, capital allocation, balance sheet structure, dividend policy, ESG initiatives and corporate governance. This information is intended to help investors understand the company’s role as a healthcare‑focused REIT and the characteristics of its real estate portfolio.