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Healthcare Realty Trust (HR)
NYSE:HR
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.07Last Year’s EPS
-$0.11Same Quarter Last Year
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -5.30%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant positive developments such as strong FFO performance, robust leasing activity, and strategic capital allocation resulting in debt reduction. However, challenges such as the Steward bankruptcy impact and timing mismatches affecting NOI growth were notable concerns. Despite these, the overall sentiment leans towards optimism with effective management strategies in place.Company Guidance
During the Healthcare Realty Third Quarter 2024 Earnings Conference Call, the company provided updated guidance for several key metrics. They reported a normalized FFO per share of $0.39, achieving the high end of their expectations and marking a 1.2% year-over-year growth. The company is benefiting from strong market fundamentals, with demand for outpatient space outpacing supply, leading to their fifth consecutive quarter of over 400,000 square feet of new signed leases. Total multi-tenant properties saw a NOI growth of 3.5% in the third quarter, despite timing differences between move-outs and move-ins. The company expects continued NOI growth acceleration as these timing differences moderate. Additionally, Healthcare Realty increased their full-year proceeds range to $1.05 to $1.15 billion, having already achieved $875 million through asset sales and joint venture contributions by October. The company also updated their 2024 normalized FFO per share range to $1.55 to $1.56, factoring in impacts from the Steward bankruptcy process.Normalized FFO Per Share Achievement
Healthcare Realty reported normalized FFO per share of $0.39, at the high end of expectations, marking a return to year-over-year growth with a 1.2% increase.
Strong Leasing and Occupancy Gains
The company reported a fifth consecutive quarter of over 400,000 square feet of new signed leases with a multi-tenant absorption of 159,000 square feet or 49 basis points. Tenant retention remained strong at over 80%.
Solid NOI Growth
Same-store property NOI growth was 3.1% year-over-year, with total multi-tenant properties seeing a 3.5% increase. This was supported by cash leasing spreads of 3.9% and expense management reducing same-store expenses by 1.5%.
Capital Allocation and Debt Reduction
Proceeds from JV contributions and asset sales totaled $875 million, with full-year expectations increased to $1.05 to $1.15 billion. The company repurchased nearly $450 million worth of shares and fully repaid a term loan set to mature in July 2025.
Positive Steward Bankruptcy Resolution
High visibility into leases with new tenants covering nearly 2/3 of the $27 million annual NOI exposure, with opportunities to recover over 80% of the existing NOI.
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HR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $17.82 | $17.32 | -2.81% |
| Aug 02, 2024 | $16.90 | $17.26 | +2.13% |
| May 07, 2024 | $14.18 | $14.58 | +2.82% |
| Feb 16, 2024 | $14.41 | $13.28 | -7.84% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Healthcare Realty Trust (HR) report earnings?
Healthcare Realty Trust (HR) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Healthcare Realty Trust (HR) earnings time?
Healthcare Realty Trust (HR) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HR EPS forecast?
HR EPS forecast for the fiscal quarter 2024 (Q4) is -$0.07.
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