Healthcare Realty Trust Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Healthcare Realty Trust Inc. has filed its annual report for the fiscal year ended December 31, 2023.</b>

AI Summary

Healthcare Realty Trust Inc (HR) filed a Annual Report (10-K) with the SEC on February 16, 2024. Healthcare Realty Trust Inc. filed its 2023 Form 10-K on February 16, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 3310 West End Avenue, Suite 700, Nashville, TN 37203. The company's phone number is 615-269-8175. Healthcare Realty Trust Inc. was formerly known as Healthcare Trust of America, Inc.

Why It Matters

For investors and stakeholders tracking Healthcare Realty Trust Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the 2023 fiscal year. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential risks and opportunities.

Risk Assessment

Risk Level: low — Healthcare Realty Trust Inc shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a low level of immediate risk from the filing itself.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Healthcare Realty Trust Inc.'s performance and outlook for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-02-16 — Filing Date (Date of filing)

Key Players & Entities

• Healthcare Realty Trust Inc. (company) — Filer name
• 3310 West End Avenue, Suite 700, Nashville, TN 37203 (location) — Business address
• 615-269-8175 (phone) — Business phone number
• Healthcare Trust of America, Inc. (company) — Former company name

FAQ

Industry Context

Healthcare Realty Trust Inc. operates within the Real Estate Investment Trusts (REITs) sector, specifically focusing on healthcare-related real estate properties.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) detailing financial and operational information.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and asset/debt levels.
2. Review the risk factors section for potential challenges and mitigation strategies.
3. Examine any disclosed executive compensation details.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-16: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for Healthcare Realty Trust Inc. as a standalone entity after potential prior restructurings or name changes.

Key Financial Figures

• $0.01 — Which Registered Class A Common Stock, $0.01 par value per share HR New York Stock E
• $13.4 billion — had gross investments of approximately $13.4 billion in 655 consolidated real estate propert
• $115.2 million — eivables, net includes an investment of $115.2 million in a single-tenant net lease property i
• $15.8 m — o a sale-leaseback transaction totaling $15.8 million, of which $8.4 million was accoun
• $8.4 million — action totaling $15.8 million, of which $8.4 million was accounted for as an imputed lease a
• $7.4 million — ed under ASC 842, Leases. The remaining $7.4 million was accounted for as a financing arrang
• $43.0 million — purchase price of the acquisitions was $43.0 million and the weighted average capitalization
• $787.0 m — rties in 2023 for sales prices totaling $787.0 million, including a regional corporate o
• $687.6 m — ansactions yielded net cash proceeds of $687.6 million, net of $36.9 million of closing
• $36.9 million — cash proceeds of $687.6 million, net of $36.9 million of closing costs and related adjustment
• $58.7 million — closing costs and related adjustments, $58.7 million in Company financed notes and $3.8 mill
• $3.8 million — 7 million in Company financed notes and $3.8 million of retained joint venture interests. Th
• $112.2 million — les price. In 2023, the Company funded $112.2 million toward development and redevelopment of

Filing Documents

• hr-20231231.htm (10-K) — 3432KB
• hr-20231231xex21.htm (EX-21) — 236KB
• hr-20231231xex22.htm (EX-22) — 6KB
• hr-20231231xex23.htm (EX-23) — 3KB
• hr-20231231xex311.htm (EX-31.1) — 11KB
• hr-20231231xex312.htm (EX-31.2) — 11KB
• hr-20231231xex32.htm (EX-32) — 7KB
• hr-20231231xex97.htm (EX-97) — 22KB
• hr-20231231_g1.jpg (GRAPHIC) — 232KB
• 0001360604-24-000026.txt (&nbsp;) — 20596KB
• hr-20231231.xsd (EX-101.SCH) — 156KB
• hr-20231231_cal.xml (EX-101.CAL) — 169KB
• hr-20231231_def.xml (EX-101.DEF) — 771KB
• hr-20231231_lab.xml (EX-101.LAB) — 1615KB
• hr-20231231_pre.xml (EX-101.PRE) — 1121KB
• hr-20231231_htm.xml (XML) — 3413KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 7 Item 1B Unresolved Staff Comments 21 Item 1C Cybersecurity 21 Item 2

Properties

Properties 22 Item 3

Legal Proceedings

Legal Proceedings 22 Item 4 Mine Safety Disclosures 22 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6 [Reserved] 24 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 49 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 93 Item 9A

Controls and Procedures

Controls and Procedures 93 Item 9B Other Information 96 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 96 PART III Item 10 Directors, Executive Officers and Corporate Governance 97 Item 11

Executive Compensation

Executive Compensation 98 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 98 Item 13 Certain Relationships and Related Transactions, and Director Independence 98 Item 14 Principal Accountant Fees and Services 99 Item 15 Exhibits and Financial Statement Schedules 99 Item 16 Form 10-K Summary 103 SIGNATURES AND SCHEDULES 103 PART I

Business

Item 1. Business The Company is a self-managed and self-administered real estate investment trust ("REIT") that owns, leases, manages, acquires, finances, develops and redevelops income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. The Company operates so as to qualify as a REIT for federal income tax purposes. As a REIT, the Company is not subject to corporate federal income tax with respect to taxable income distributed to its stockholders. See "Item 1A. Risk Factors" for a discussion of risks associated with qualifying as a REIT. As described in the Explanatory Note above and elsewhere in this report, on July 20, 2022, Legacy HR and Legacy HTA completed a merger between the companies in which Legacy HR merged with and into a wholly-owned subsidiary of Legacy HTA, with Legacy HR continuing as the surviving entity and a wholly-owned subsidiary of Legacy HTA. Immediately following the Merger, Legacy HTA changed its name to "Healthcare Realty Trust Incorporated." For accounting purposes, the Merger was treated as a "reverse acquisition" in which Legacy HR was considered the acquirer. The consolidated company operates under the name "Healthcare Realty Trust Incorporated" and its shares of class A common stock, $0.01 par value per share, trade under the ticker symbol "HR". Real Estate Properties The Company had gross investments of approximately $13.4 billion in 655 consolidated real estate properties, construction in progress, redevelopments, financing receivables, financing lease right-of-use assets, land held for development and corporate property as of December 31, 2023. The Company had a weighted average ownership interest of approximately 43% in 33 real estate properties held in unconsolidated joint ventures as of December 31, 2023. The Company provided leasing and property management services to 93% of its portfolio nationwide as of December 31, 2023. The Company's rea

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View this 10-K filing on SEC EDGAR