NYSE : HR
Healthcare Realty Trust Incorporated — Financial statements
Real Estate · REIT - Healthcare Facilities · United States
Last price 18.49 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 6.42B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 1.09B | 1.14B | 1.23B | 1.31B | 907.45M | 520.33M |
| Other Revenue | 35.22M | 28.03M | 19.02M | 15.77M | 13.02M | 9.50M |
| Total Revenue | 1.14B | 1.18B | 1.27B | 1.34B | 931.95M | 534.02M |
| Property Expenses | 433.21M | 451.10M | 476.57M | 502.46M | 347.27M | 216.20M |
| Selling, General & Administrative | 57.93M | 72.57M | 83.12M | 58.41M | 52.73M | 34.15M |
| Depreciation & Amortization | 495.97M | 563.97M | 675.15M | 730.71M | 453.08M | 202.71M |
| Total Operating Expenses | 987.11M | 1.09B | 1.23B | 1.29B | 853.08M | 453.07M |
| Operating Income | 150.28M | 92.72M | 33.34M | 50.51M | 78.87M | 80.95M |
| Interest Expense | -183.67M | -213.29M | -242.69M | -258.58M | -148.24M | -53.13M |
| Interest & Investment Income | 1.34M | |||||
| Other Non-Operating Income | 1.11M | 746.00K | ||||
| EBT Excluding Unusual Items | -32.27M | -119.83M | -209.34M | -206.73M | -69.37M | 27.82M |
| Merger & Restructuring Charges | 1.95M | -103.38M | ||||
| Impairment of Goodwill | -250.53M | |||||
| Gain (Loss) on Sale of Assets | 152.68M | 235.39M | 109.75M | 77.55M | 270.27M | 55.94M |
| Asset Writedown | -165.12M | -364.60M | -313.55M | -154.91M | -54.43M | -17.10M |
| Other Unusual Items | -2.38M | -451.00K | -237.00K | 62.00K | -2.40M | |
| Pretax Income | -45.20M | -249.49M | -663.90M | -282.08M | 40.69M | 66.66M |
| Earnings From Continuing Operations | -45.20M | -249.49M | -663.90M | -282.08M | 40.69M | 66.66M |
| Net Income to Company | -45.20M | -249.49M | -663.90M | -282.08M | 40.69M | 66.66M |
| Minority Interest in Earnings | 261.00K | 3.41M | 9.42M | 3.82M | 204.00K | |
| Net Income | -44.93M | -246.07M | -654.49M | -278.26M | 40.90M | 66.66M |
| Preferred Dividends & Other Adjustments | 2.45M | 2.41M | 5.92M | 3.35M | 2.44M | 2.15M |
| Net Income to Common | -47.38M | -248.48M | -660.40M | -281.62M | 38.46M | 64.50M |
| Basic Shares Outstanding | 345.08M | 349.80M | 365.55M | 378.93M | 252.36M | 142.64M |
| Diluted Shares Outstanding | 345.08M | 349.80M | 365.55M | 378.93M | 253.87M | 142.71M |
| EPS (Basic) | -0.14 | -0.71 | -1.81 | -0.74 | 0.15 | 0.45 |
| EPS (Diluted) | -0.14 | -0.71 | -1.81 | -0.74 | 0.15 | 0.45 |
| Dividend Per Share | 0.96 | 1.03 | 1.24 | 1.24 | 0.73 | 1.22 |
| Operating Margin | 13.21% | 7.85% | 2.63% | 3.76% | 8.46% | 15.16% |
| Profit Margin | -4.17% | -21.05% | -52.08% | -20.98% | 4.13% | 12.08% |
| EBITDA | 708.84M | 703.89M | 755.66M | 826.40M | 556.64M | 287.46M |
| EBITDA Margin | 62.32% | 59.63% | 59.59% | 61.58% | 59.73% | 53.83% |
| D&A For Ebitda | 558.56M | 611.17M | 722.32M | 775.89M | 477.78M | 206.51M |
| EBIT | 150.28M | 92.72M | 33.34M | 50.51M | 78.87M | 80.95M |
| EBIT Margin | 13.21% | 7.85% | 2.63% | 3.76% | 8.46% | 15.16% |
| Funds From Operations (FFO) | 508.49M | 490.05M | 193.26M | 547.13M | 296.98M | 241.52M |
| FFO Per Share | 1.45 | 1.38 | 0.52 | 1.43 | 1.17 | 1.68 |
| Adjusted Funds From Operations (AFFO) | 393.46M | 387.67M | 50.59M | 414.63M | 222.53M | 201.50M |
| AFFO Per Share | 1.13 | 1.09 | 0.14 | 1.08 | 0.87 | 1.40 |
| FFO Payout Ratio | 65.45% | 78.96% | 236.91% | 86.31% | 95.53% | 72.65% |
| Revenue as Reported | 1.13B | 1.18B | 1.27B | 1.34B | 932.64M | 534.82M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 7.78B | 7.59B | 8.87B | 10.55B | 11.72B | 3.61B |
| Total Real Estate Assets | 7.82B | 7.64B | 8.92B | 10.61B | 11.79B | 3.64B |
| Cash & Equivalents | 17.50M | 26.17M | 68.92M | 25.70M | 60.96M | 13.18M |
| Accounts Receivable | 172.45M | 163.63M | 182.18M | 138.19M | 84.86M | |
| Other Receivables | 7.17M | |||||
| Investment In Debt and Equity Securities | 488.00K | 7.20M | 10.64M | 20.52M | ||
| Goodwill | 250.53M | 223.20M | 3.49M | |||
| Other Intangible Assets | 475.68M | 698.11M | 904.06M | 1.04B | 262.12M | |
| Loans Receivable Current | 40.50M | 86.97M | 127.62M | 173.61M | 99.64M | |
| Other Current Assets | 150.09M | 327.89M | 172.76M | 131.48M | 105.13M | 63.80M |
| Trading Asset Securities | 11.74M | |||||
| Deferred Long-Term Charges | 11.64M | 1.76M | 3.87M | 5.98M | 1.81M | |
| Other Long-Term Assets | 924.38M | 465.13M | 487.30M | 343.17M | 357.65M | 191.06M |
| Total Assets | 8.96B | 9.21B | 10.65B | 12.64B | 13.85B | 4.26B |
| Current Portion of Long-Term Debt | 22.99M | 598.95M | 254.03M | 12.42M | 4.27M | 5.92M |
| Current Portion of Leases | 2.88M | 11.37M | ||||
| Long-Term Debt | 3.88B | 3.32B | 4.41B | 4.99B | 5.35B | 1.80B |
| Long-Term Leases | 235.39M | 224.68M | 296.85M | 304.22M | 352.83M | 118.69M |
| Accounts Payable | 176.63M | 211.07M | 222.51M | 211.99M | 244.03M | 17.04M |
| Accrued Expenses | 69.07M | |||||
| Other Current Liabilities | 13.51M | 15.16M | 1.28M | 295.00K | 437.00K | 294.00K |
| Long-Term Unearned Revenue | 45.13M | |||||
| Other Long-Term Liabilities | 147.57M | 156.60M | 157.48M | 190.56M | 214.40M | 16.34M |
| Total Liabilities | 4.83B | 4.53B | 5.35B | 5.71B | 6.17B | 2.07B |
| Common Stock | 3.40M | 3.52M | 3.50M | 3.81M | 3.81M | 1.50M |
| Additional Paid-In Capital | 8.90B | 9.14B | 9.12B | 9.60B | 9.59B | 3.97B |
| Distributions in Excess of Earnings | -4.83B | -4.52B | -3.89B | -2.77B | -2.02B | -1.78B |
| Comprehensive Income & Other | 8.32M | -5.17M | -1.17M | -10.74M | 2.14M | -9.98M |
| Total Common Equity | 4.08B | 4.62B | 5.23B | 6.82B | 7.57B | 2.19B |
| Minority Interest | 54.21M | 59.73M | 71.01M | 100.12M | 110.76M | |
| Shareholders' Equity | 4.13B | 4.68B | 5.31B | 6.92B | 7.68B | 2.19B |
| Total Liabilities & Equity | 8.96B | 9.21B | 10.65B | 12.64B | 13.85B | 4.26B |
| Total Debt | 4.49B | 4.15B | 4.96B | 5.31B | 5.71B | 1.93B |
| Net Cash (Debt) | -4.46B | -4.13B | -4.89B | -5.29B | -5.65B | -1.91B |
| Net Cash Per Share | -12.92 | -11.79 | -13.39 | -13.95 | -22.25 | -13.40 |
| Filing Date Shares Outstanding | 338.54M | 348.85M | 350.82M | 381.18M | 380.78M | 150.72M |
| Total Common Shares Outstanding | 340.00M | 351.60M | 350.53M | 380.96M | 380.59M | 150.46M |
| Book Value Per Share | 12.00 | 13.13 | 14.93 | 17.91 | 19.89 | 14.52 |
| Tangible Book Value | 4.08B | 4.14B | 4.54B | 5.67B | 6.31B | 1.92B |
| Tangible Book Value Per Share | 12.00 | 11.78 | 12.94 | 14.88 | 16.57 | 12.76 |
| Land | 1.04B | 1.06B | 1.14B | 1.34B | 1.44B | 387.92M |
| Buildings | 8.67B | 8.51B | 9.71B | 10.88B | 11.33B | 4.12B |
| Construction In Progress | 31.98M | 60.73M | 35.56M | 3.97M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -44.93M | -246.07M | -654.49M | -278.26M | 40.90M | 66.66M |
| Depreciation & Amortization | 558.56M | 611.17M | 722.32M | 775.89M | 477.78M | 206.51M |
| Gain (Loss) on Sale of Assets | -152.68M | -235.39M | -109.75M | -77.55M | -270.27M | -55.94M |
| Asset Writedown | 163.72M | 364.60M | 564.08M | 154.91M | 54.43M | 17.10M |
| Stock-Based Compensation | 17.76M | 22.39M | 31.82M | 14.29M | 20.35M | 10.73M |
| Income (Loss) on Equity Investments | 16.87M | 21.70M | 10.63M | 19.56M | 2.57M | 795.00K |
| Change in Accounts Payable | -14.84M | -25.51M | 5.20M | -18.77M | 24.19M | -839.00K |
| Change in Other Net Operating Assets | -65.35M | -32.29M | -31.06M | -52.12M | -57.00M | -7.69M |
| Other Operating Activities | -29.41M | -23.50M | -37.13M | -38.13M | -20.18M | -4.69M |
| Operating Cash Flow | 449.69M | 457.10M | 501.62M | 499.82M | 272.75M | 232.63M |
| Acquisition of Real Estate Assets | -288.15M | -342.88M | -319.32M | -321.25M | -603.93M | -470.66M |
| Sale of Real Estate Assets | 685.40M | 1.00B | 1.22B | 701.43M | 1.20B | 184.22M |
| Net Sale / Acq. of Real Estate Assets | 397.25M | 661.75M | 901.76M | 380.18M | 597.13M | -286.44M |
| Cash Acquisition | 1.16B | |||||
| Investment in Marketable & Equity Securities | -39.77M | -2.19M | -3.82M | -99.97M | -89.60M | |
| Other Investing Activities | 64.92M | 60.27M | 5.16M | 1.69M | ||
| Investing Cash Flow | 412.74M | 710.83M | 900.92M | 349.14M | 1.63B | -562.47M |
| Long-Term Debt Issued | 1.45B | 1.29B | 694.00M | 706.50M | 210.00M | |
| Long-Term Debt Repaid | -2.25B | -1.66B | -1.10B | -1.16B | -33.74M | |
| Net Debt Issued (Repaid) | -264.86M | -796.57M | -375.49M | -404.16M | -457.23M | 176.26M |
| Issuance of Common Stock | 104.00K | 130.00K | 22.90M | 331.12M | ||
| Repurchase of Common Stock | -228.25M | -4.01M | -519.30M | -2.30M | -3.19M | -3.80M |
| Common Dividends Paid | -332.79M | -386.92M | -457.85M | -472.24M | -283.71M | -175.46M |
| Other Financing Activities | -62.53M | -23.17M | -6.78M | -5.65M | -14.45M | -405.00K |
| Net Cash Flow | -26.00M | -42.74M | 43.22M | -35.26M | 47.79M | -2.13M |
| Levered Free Cash Flow | 719.15M | 107.20M | 409.03M | 260.10M | 247.81M | 143.72M |
| Unlevered Free Cash Flow | 833.94M | 240.51M | 560.71M | 421.72M | 340.46M | 176.93M |
| Cash Interest Paid | 143.75M | 176.55M | 202.50M | 216.03M | 112.69M | 49.44M |
| Cash Income Tax Paid | 1.26M | 1.26M | 1.79M | 1.32M | 1.83M | 560.00K |
| Change in Working Capital | -80.19M | -57.80M | -25.86M | -70.89M | -32.81M | -8.53M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.38B | 5.96B | 5.98B | 6.56B | 7.33B | 4.67B |
| Enterprise Value | 10.83B | 10.71B | 11.31B | 12.22B | 13.30B | 6.47B |
| Last Close Price | 18.49 | 16.33 | 15.28 | 14.36 | 14.97 | 23.41 |
| Price/FFO Ratio | 12.21 | 11.83 | 29.38 | 10.04 | 12.79 | 13.94 |
| Price/AFFO Ratio | 15.73 | 14.93 | 111.68 | 13.28 | 17.13 | 16.69 |
| PE Ratio | 190.68 | 72.37 | ||||
| PS Ratio | 5.57 | 5.05 | 4.71 | 4.89 | 7.87 | 8.74 |
| PB Ratio | 1.54 | 1.27 | 1.13 | 0.95 | 0.95 | 2.14 |
| P/OCF Ratio | 14.09 | 13.04 | 11.92 | 13.13 | 26.89 | 20.07 |
| EV/Sales Ratio | 9.49 | 9.07 | 8.92 | 9.10 | 14.27 | 12.11 |
| EV/EBITDA Ratio | 15.23 | 15.22 | 14.97 | 14.78 | 23.89 | 22.50 |
| EV/EBIT Ratio | 71.83 | 115.52 | 339.36 | 241.89 | 168.63 | 79.90 |
| Debt / Equity Ratio | 1.08 | 0.89 | 0.94 | 0.77 | 0.74 | 0.88 |
| Debt / EBITDA Ratio | 6.14 | 5.69 | 6.34 | 6.38 | 10.19 | 6.67 |
| Net Debt / Equity Ratio | 1.08 | 0.88 | 0.92 | 0.76 | 0.73 | 0.88 |
| Net Debt / EBITDA Ratio | 6.29 | 5.86 | 6.48 | 6.40 | 10.15 | 6.65 |
| Asset Turnover | 0.12 | 0.12 | 0.11 | 0.10 | 0.10 | 0.13 |
| Quick Ratio | 0.05 | 0.24 | 0.49 | 0.93 | 0.83 | 1.06 |
| Current Ratio | 0.39 | 0.73 | 1.11 | 2.28 | 1.65 | 1.75 |
| Return on Equity (ROE) | -1.02% | -5.00% | -10.86% | -3.86% | 0.83% | 3.23% |
| Return on Assets (ROA) | 1.00% | 0.58% | 0.18% | 0.24% | 0.54% | 1.25% |
| Earnings Yield | -0.75% | -4.13% | -10.95% | -4.24% | 0.56% | 1.43% |
| Dividend Yield | 5.16% | 6.08% | 7.27% | 7.20% | 3.78% | 3.92% |
| Payout Ratio | 693.73% | 263.21% | ||||
| Buyback Yield / Dilution | 1.45% | 4.31% | 3.53% | -49.26% | -77.89% | -6.49% |
| Total Shareholder Return | 6.64% | 10.39% | 10.80% | -42.06% | -74.11% | -2.57% |