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HR

Healthcare Realty Trust Incorporated

HR

Healthcare Realty Trust Incorporated • NYSE
$18.23 ▼ -0.27% (-0.05)
Market Cap $6.41 B
52w High $18.97
52w Low $14.09
Dividend Yield 1.10%
P/E -17.04
Volume 856.21K
Outstanding Shares 351.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $297.765M ▲ $159.612M ▼ $-57.738M ▲ -19.39% ▲ $-0.17 ▲ $145.05M ▲
Q2-2025 $297.502M ▼ $171.231M ▲ $-157.851M ▼ -53.059% ▼ $-0.45 ▼ $52.391M ▼
Q1-2025 $298.977M ▲ $164.499M ▼ $-44.873M ▲ -15.009% ▲ $-0.13 ▲ $170.755M ▲
Q4-2024 $290.609M ▼ $175.382M ▼ $-106.846M ▼ -36.766% ▼ $-0.31 ▼ $121.356M ▼
Q3-2024 $315.423M $183.35M $-93.023M -29.492% $-0.26 $175.067M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $43.345M ▲ $9.86B ▼ $5.115B ▼ $4.683B ▼
Q2-2025 $25.507M ▼ $10.236B ▼ $5.354B ▲ $4.817B ▼
Q1-2025 $25.722M ▼ $10.496B ▼ $5.349B ▲ $5.078B ▼
Q4-2024 $68.916M ▲ $10.651B ▼ $5.345B ▼ $5.235B ▼
Q3-2024 $22.801M $11.245B $5.645B $5.515B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-58.544M ▲ $113.753M ▼ $226.275M ▲ $-322.189M ▼ $17.838M ▲ $24.929M ▼
Q2-2025 $-160.143M ▼ $163.215M ▲ $-3.098M ▲ $-160.181M ▼ $-215K ▲ $77.562M ▲
Q1-2025 $-45.389M ▲ $47.788M ▼ $-38.833M ▼ $-52.149M ▲ $-43.194M ▼ $-21.34M ▼
Q4-2024 $-107.754M ▼ $138.012M ▲ $418.655M ▲ $-513.91M ▼ $46.115M ▲ $138.012M ▲
Q3-2024 $-94.535M $119.301M $330.761M $-465.668M $-18.964M $50.334M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Management Fee Income
Management Fee Income
 $0 ▲$0 ▲$0 ▲$0 ▲
Parking Income
Parking Income
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The core business appears relatively steady, but reported profits have been weak. Revenue has climbed over time as the portfolio has grown, yet net income has turned negative in recent years. This suggests that non‑cash charges (like depreciation) and higher interest or integration costs are weighing on reported earnings. Operating and EBITDA results look more stable than the bottom line, implying the underlying properties still generate cash, but the capital structure and accounting charges make the income statement look challenging. Overall, it’s a story of scale and operational cash strength, offset by pressure from financing costs and restructuring-related headwinds.

Balance Sheet

Balance Sheet The balance sheet shows a much larger company than several years ago, with a sizable real estate portfolio funded by a meaningful level of debt. Both assets and debt swelled after expansion and then began to edge down as the company sold properties and worked to simplify and strengthen its position. Equity has also declined from earlier peaks, reflecting cumulative losses and possibly asset value adjustments. Cash on hand is modest, which is typical for a REIT that relies on recurring rent, but it leaves less cushion for shocks and makes ongoing access to financing and asset sales important. The key theme is a shift from growth to balance sheet clean‑up and gradual de‑leveraging.

Cash Flow

Cash Flow Cash generation from operations has been fairly consistent and comfortably positive, which is important for a REIT. After funding maintenance and development spending, the company still produces positive free cash flow, though not with a large margin of safety. Capital spending has been disciplined rather than aggressive, with investment focused on improving and leasing up existing assets. This profile suggests a business that can support its operations and some reinvestment from internal cash, but still needs careful capital allocation and, at times, external funding or asset sales to maintain flexibility and manage debt.

Competitive Edge

Competitive Edge Healthcare Realty Trust competes from a position of specialization rather than breadth. Its focus is on medical office and outpatient buildings, many located on or next to major hospital campuses. This location advantage and long‑standing relationships with health systems create sticky tenant ties and relatively resilient demand as care shifts toward outpatient settings. In‑house leasing and property management deepen these relationships and allow tailored service. On the other hand, the company is less diversified than larger healthcare REIT peers and is sensitive to interest rates, capital market conditions, and hospital system health. Competition from other specialized and diversified healthcare REITs remains strong, especially those with more advanced technology and broader capital resources.

Innovation and R&D

Innovation and R&D Innovation here is strategic and operational rather than technological. The “Healthcare Realty 2.0” plan is a structured effort to segment the portfolio, sell weaker or non‑core assets, and focus capital on properties that can meaningfully boost occupancy and income. The company is using data and targeted projects to lift leasing performance and improve building efficiency, while pursuing ESG goals such as lower energy and water use and more green certifications. These efforts can support lower operating costs, better tenant satisfaction, and a stronger brand with health systems and sustainability‑minded investors. However, some peers are pushing further into advanced analytics and AI, so execution quality and follow‑through on this plan will be critical for HR to keep its edge.

Summary

Healthcare Realty Trust is transitioning from a period of enlargement and merger-driven complexity into a phase focused on cleanup, optimization, and disciplined operations. The properties themselves appear to generate solid cash flow, but recent accounting losses and higher financing burdens have weighed on reported profitability and equity. The balance sheet is still debt‑heavy but is gradually being reshaped through asset sales and more selective investment. Strategically, the company benefits from prime locations, deep hospital relationships, and in‑house operating expertise, all within a resilient niche of healthcare real estate. The main opportunities lie in successfully executing its 2.0 plan—lifting occupancy, recycling capital, and meeting ESG efficiency targets—while the key risks center on balance sheet leverage, interest rates, and the challenge of proving that this strategic overhaul can translate into more durable, visible earnings quality over time.

NEWS

October 30, 2025 · 4:15 PM UTC

Healthcare Realty Reports Third Quarter 2025 Results

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October 14, 2025 · 4:05 PM UTC

Healthcare Realty Trust Announces Third Quarter Earnings Release Date and Conference Call

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October 8, 2025 · 4:05 PM UTC

Healthcare Realty Trust Releases Seventh Corporate Responsibility Report

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