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

TL;DR

<b>Healthcare Trust, Inc. has filed its 2023 10-K, detailing its financial performance and corporate information for the fiscal year ending December 31, 2023.</b>

AI Summary

Healthcare Trust, Inc. (NHPBP) filed a Annual Report (10-K) with the SEC on March 15, 2024. Healthcare Trust, Inc. filed its 2023 10-K report on March 15, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 222 Bellevue Avenue, Newport, RI 02840. Healthcare Trust, Inc. was formerly known as American Realty Capital Healthcare Trust II, Inc. The company is incorporated in Maryland.

Why It Matters

For investors and stakeholders tracking Healthcare Trust, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Healthcare Trust, Inc.'s financial health, operational activities, and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess performance and future prospects. Understanding the company's historical financial data, including revenue, debt, and equity, as presented in this filing, is essential for making informed investment decisions and evaluating the company's stability and growth potential.

Risk Assessment

Risk Level: medium — Healthcare Trust, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains detailed financial information and risk factors, but lacks specific performance metrics or forward-looking statements in the provided snippet to indicate a strong bullish or bearish sentiment.

Analyst Insight

Review the full 10-K filing to analyze detailed financial statements, revenue segments, and risk factors to assess Healthcare Trust, Inc.'s investment potential.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-15 — Filing Date (Date of submission)
• 0001561032-24-000007 — Accession Number (Unique identifier for the filing)
• 6798 — SIC Code (Standard Industrial Classification for Real Estate Investment Trusts)

Key Players & Entities

• Healthcare Trust, Inc. (company) — Filer name
• American Realty Capital Healthcare Trust II, Inc. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-03-15 (date) — Filing date
• 222 Bellevue Avenue, Newport, RI 02840 (address) — Business address
• MD (state) — State of incorporation

FAQ

Industry Context

Healthcare Trust, Inc. operates as a Real Estate Investment Trust (REIT) within the real estate sector, focusing on healthcare-related properties.

Regulatory Implications

As a publicly traded company, Healthcare Trust, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the complete financial statements within the 10-K to understand revenue, expenses, and profitability.
2. Examine the risk factors section to identify potential challenges and their impact on the company.
3. Research the company's portfolio of healthcare properties and any related strategic initiatives.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-15: Filing Date — Date Healthcare Trust, Inc. submitted its 10-K report.

Year-Over-Year Comparison

This is the initial filing snippet for Healthcare Trust, Inc.'s 2023 10-K. Comparative data from previous filings is not available in this excerpt.

Key Financial Figures

• $0.01 — e Redeemable Perpetual Preferred Stock, $0.01 par value per share HTIA The Nasdaq Gl
• $2.6 billion — total real estate investments, at cost ($2.6 billion total at December 31, 2023), net of gro
• $23.5 million — ss market lease intangible liabilities ($23.5 million total at December 31, 2023). Impairment
• $3.7 million — and parcels with a gross asset value of $3.7 million. In constructing our portfolio, we are
• $4.5 million — ar ended December 31, 2023. We received $4.5 million and $5.1 million in these funds during
• $5.1 million — 31, 2023. We received $4.5 million and $5.1 million in these funds during the years ended D
• $635.9 million — basis. As of December 31, 2023, we had $635.9 million of unencumbered real estate investments
• $1.1 b — s approximately 43.7%. Net debt totaled $1.1 billion, which represents gross debt ($1.
• $1.2 billion — 1 billion, which represents gross debt ($1.2 billion) less cash and cash equivalents ($46.4
• $46.4 million — illion) less cash and cash equivalents ($46.4 million).

Filing Documents

• hct-20231231.htm (10-K) — 4383KB
• ex49descriptionofsecurities.htm (EX-4.9) — 224KB
• ex1038mobwarehouseloanagre.htm (EX-10.38) — 1191KB
• ex1039cpcloanagreement.htm (EX-10.39) — 1240KB
• ex211htisubsidiarylist1231.htm (EX-21) — 152KB
• ex231hti12312023.htm (EX-23) — 2KB
• ex311hti12312023.htm (EX-31.1) — 10KB
• ex312hti12312023.htm (EX-31.2) — 11KB
• ex32hti12312023.htm (EX-32) — 6KB
• ex97hti12312023.htm (EX-97) — 40KB
• hct-20231231_g1.jpg (GRAPHIC) — 160KB
• 0001561032-24-000007.txt (&nbsp;) — 23596KB
• hct-20231231.xsd (EX-101.SCH) — 147KB
• hct-20231231_cal.xml (EX-101.CAL) — 115KB
• hct-20231231_def.xml (EX-101.DEF) — 790KB
• hct-20231231_lab.xml (EX-101.LAB) — 1302KB
• hct-20231231_pre.xml (EX-101.PRE) — 995KB
• hct-20231231_htm.xml (XML) — 3555KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 43 Item 2.

Properties

Properties 44 Item 3.

Legal Proceedings

Legal Proceedings 47 Item 4. Mine Safety Disclosures 47 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 48 Item 6. [Reserved] 51 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 51 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 71 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 72 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 72 Item 9A.

Controls and Procedures

Controls and Procedures 73 Item 9B. Other Information 73 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 73 PART III Item 10. Directors, Executive Officers and Corporate Governance 74 Item 11.

Executive Compensation

Executive Compensation 74 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 74 Item 13. Certain Relationships and Related Transactions, and Director Independence 74 Item 14. Principal Accountant Fees and Services 75 PART IV Item 15. Exhibit and Financial Statement Schedules 75 Item 16. Form 10-K Summary 79

SIGNATURES

SIGNATURES 80 2 T able of Contents

Forward-Looking Statements

Forward-Looking Statements Certain statements included in this Annual Report on Form 10-K are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Those statements include statements regarding the intent, belief or current expectations of Healthcare Trust, Inc. ("we," "our" or "us") and members of our management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required to do so by law. These forward-looking statements are based on management's current expectations, are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause our actual results to differ materially from those presented in our forward-looking statements are set forth in "Risk Factors" ( Part I, Item 1A of this Annual Report on Form 10-K), "Quantitative and Qualitative Disclosures about Market Risk" ( Part II, Item 7A of this Annual Report on Form 10-K), and "Management's Discussion and Analysis of Finan

Business

Item 1. Business We are an externally managed real estate investment trust for U.S. federal income tax purposes ("REIT"), that focuses on acquiring and managing a diversified portfolio of healthcare-related real estate, focused on medical office and other healthcare-related buildings ("MOBs"), and senior housing operating properties ("SHOPs"). As described in further detail herein, we operate in two reportable business segments for management and internal financial reporting purposes: MOBs and SHOPs. As of December 31, 2023, we owned 204 properties located in 33 states and comprised of 9.0 million rentable square feet. The following table summarizes our portfolio of properties as of December 31, 2023: Asset Type Number of Properties Rentable Square Feet Gross Asset Value (1) (In thousands) Medical Office and Other Healthcare-Related Buildings 156 5,153,419 $ 1,468,401 Seniors Housing — Operating Properties (2) 46 (3) 3,857,652 1,129,573 Total Portfolio 202 9,011,071 $ 2,597,974 __________ (1) Gross asset value represents total real estate investments, at cost ($2.6 billion total at December 31, 2023), net of gross market lease intangible liabilities ($23.5 million total at December 31, 2023). Impairment charges are already reflected within gross asset value. (2) As of December 31, 2023, we had 4,164 rentable units in our SHOP segment. (3) Excludes two land parcels with a gross asset value of $3.7 million. In constructing our portfolio, we are committed to diversifying our assets by geographic region. The following table details the geographic distribution, by region, of our portfolio as of December 31, 2023: Geographic Region Number of Properties Annualized Rental Income (1) Rentable Square Feet Rentable Units in SHOP Segment (In thousands) Northeast 26 $ 39,433 1,648,564 289 South 62 109,901 2,784,053 1,436 Midwest 81 121,204 3,037,467 1,845 West 35 50,185 1,540,987 594 Total Portfolio 204 $ 320,723 9,011,071 4,164 __________ (1) Annua

View Full Filing

View this 10-K filing on SEC EDGAR