NYSE$HR
Healthcare Realty Trust Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Healthcare Realty's financial performance was marked by a net loss, offset by progress in capital allocation and operational efficiency.
Healthcare Realty Trust reported a net loss attributable to common stockholders of $(143.8) million, or $(0.39) per diluted common share, for the second quarter ended June 30, 2024. Normalized FFO per share totaled $0.38. The company generated $400 million from JV and asset sale transactions and repurchased 18.5 million shares. Multi-tenant absorption reached 183,000 square feet year-to-date, and new leasing momentum remained strong with 432,000 square feet of new leases signed.
- Generated approximately $400 million of proceeds from JV and asset sale transactions through the second quarter.
- Repurchased 18.5 million shares to date, totaling $294.5 million.
- Delivered multi-tenant absorption of 183,000 square feet year-to-date, or 55 basis points.
- Signed new leases totaling approximately 432,000 square feet in the quarter.
Headline financials
Revenue & EPS history
Healthcare Realty · Revenue · Quarterly
$316M
Revenue by segment
Healthcare Realty · $4.26M total across 1 segment · Q3 2023
- Interest Income$4.26M+26.7%100.0%
Forward guidance
The Company affirms its 2024 Normalized FFO per share guidance.
Tailwinds
- Activities outlined in the Components of Expected FFO on page 30 of the Supplemental Information
- Completed share repurchases and expected debt repayment from JV and asset sale transactions. The partial-year net accretion is expected to be approximately $0.01 per share of normalized FFO in 2024
- Seasonal utilities are expected to increase by approximately $2.0 million in the third quarter
- Previously disclosed single-tenant vacate in the third quarter is expected to reduce rental revenue by $0.6 million in the third quarter and an additional $0.3 million in the fourth quarter
- Steward Health rental income reduction of $3.6 million, comprised of $3.0 million of second quarter revenue reserves and loss of $0.6 million of straight-line rent income for the second through the fourth quarter
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.6%
Avg return
Earnings day
+0.1%
Avg return
5 days after
-0.2%
Avg return
30 days after
45%
29 / 65 earnings
Positive
+5.8%
Q3 2022
Best reaction
-10.1%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.9% | +8.2% | +6.6% | |
| Q4 2025 | +2.7% | +3.1% | +2.8% | |
| Q3 2025 | -0.6% | +1.0% | +2.6% | |
| Q1 2025 | -4.4% | -4.3% | -8.7% | |
| Q4 2024 | -1.3% | -1.0% | -2.2% | |
| Q3 2024 | -5.3% | -5.1% | +1.0% | |
| Q2 2024 | -0.3% | +0.8% | +1.7% | |
| Q1 2024 | +2.1% | +2.5% | +10.2% | |
| Q4 2023 | -10.1% | -8.8% | -17.8% | |
| Q3 2023 | +1.1% | -1.1% | +5.1% | |
| Q2 2023 | -6.0% | -8.5% | -15.3% | |
| Q1 2023 | -1.5% | +0.6% | -1.4% | |
| Q4 2022 | +0.7% | -4.0% | -5.9% | |
| Q3 2022 | +5.8% | +0.4% | +0.6% | |
| Q2 2022 | +3.6% | +3.9% | -4.0% | |
| Q1 2022 | -0.2% | -2.4% | -9.8% | |
| Q4 2021 | -8.8% | -4.5% | -5.2% | |
| Q3 2021 | +1.2% | +1.8% | -0.9% | |
| Q2 2021 | -2.6% | -0.5% | -2.3% | |
| Q1 2021 | +2.5% | +0.8% | -1.4% | |
| Q4 2020 | +0.4% | +0.7% | -0.3% | |
| Q3 2020 | +4.6% | +7.3% | +3.8% | |
| Q2 2020 | +1.6% | -1.6% | +2.8% | |
| Q1 2020 | +4.0% | +9.2% | +10.0% | |
| Q4 2019 | +1.2% | +1.8% | -6.3% | |
| Q3 2019 | -6.6% | -7.4% | -4.6% | |
| Q2 2019 | -1.1% | -0.6% | +2.2% | |
| Q1 2019 | -0.4% | +0.3% | +4.4% | |
| Q4 2018 | +2.0% | +2.7% | +0.4% | |
| Q3 2018 | -1.3% | +2.5% | +11.3% | |
| Q2 2018 | +2.7% | +4.1% | +4.0% | |
| Q1 2018 | +1.8% | +1.2% | +0.4% | |
| Q4 2017 | -2.1% | -0.8% | -1.5% | |
| Q3 2017 | +0.4% | +1.3% | +2.9% | |
| Q2 2017 | +0.3% | -0.3% | +0.5% | |
| Q1 2017 | -1.5% | +1.0% | +7.3% | |
| Q4 2016 | +2.7% | +2.8% | +3.4% | |
| Q3 2016 | -3.6% | -1.4% | -5.5% | |
| Q2 2016 | +0.3% | -0.6% | -0.5% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | -1.4% | — | — | |
| Q3 2015 | -0.7% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q4 2014 | +2.0% | — | — | |
| Q3 2014 | -0.3% | — | — | |
| Q2 2014 | -1.2% | — | — | |
| Q1 2014 | -1.6% | — | — | |
| Q4 2013 | +1.1% | — | — | |
| Q3 2013 | -2.5% | — | — | |
| Q2 2013 | -3.9% | — | — | |
| Q1 2013 | +0.7% | — | — | |
| Q4 2012 | -1.8% | — | — | |
| Q3 2012 | -2.5% | — | — | |
| Q2 2012 | -0.9% | — | — | |
| Q1 2012 | -4.0% | — | — | |
| Q1 2011 | -4.0% | — | — | |
| Q4 2009 | +1.1% | — | — | |
| Q4 2011 | +1.1% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q4 2010 | +3.4% | — | — | |
| Q2 2011 | +3.4% | — | — | |
| Q3 2010 | -6.4% | — | — | |
| Q2 2010 | -0.9% | — | — | |
| Q1 2010 | -6.7% | — | — |
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