Healthcare Trust, Inc. Files 8-K on Preferred Stock

TL;DR

HTI filed an 8-K for preferred stock events on 3/27.

AI Summary

Healthcare Trust, Inc. filed an 8-K on March 29, 2024, reporting an event that occurred on March 27, 2024. The filing pertains to their Series A and Series B Cumulative Redeemable Perpetual Preferred Stock. No specific financial transactions or material events were detailed in the provided excerpt.

Why It Matters

This filing indicates ongoing corporate actions related to Healthcare Trust, Inc.'s preferred stock, which could impact investors holding these securities.

Risk Assessment

Risk Level: low — The provided excerpt is a standard SEC filing notification and does not contain information about significant financial risks or operational changes.

Key Players & Entities

• Healthcare Trust, Inc. (company) — Registrant
• March 27, 2024 (date) — Earliest event date
• March 29, 2024 (date) — Filing date
• Series A Cumulative Redeemable Perpetual Preferred Stock (security) — Preferred Stock Series
• Series B Cumulative Redeemable Perpetual Preferred Stock (security) — Preferred Stock Series

FAQ

Key Financial Figures

• $0.01 — e Redeemable Perpetual Preferred Stock, $0.01 par value per share HTIA The Nasdaq Glo
• $13.00 — 1, 2023 (the "Valuation Date") equal to $13.00 . T he Estimated Per-Share NAV of $13.0
• $13 — ermining the Estimated Per-Share NAV of $13.00, the independent directors of the Bo
• $12.01 — Estimated Per-Share NAV range equal to $12.01 - $13.60 per share. The midpoint in tha
• $13.60 — d Per-Share NAV range equal to $12.01 - $13.60 per share. The midpoint in that range w
• $12.58 — r share. The midpoint in that range was $12.58 per share. The capitalization rates a
• $0.42 — NAV approved by the Board of $13.00 was $0.42 per share above the midpoint of the ran
• $2.6 b — e of the Real Estate Assets, at cost of $2.6 billion, and (ii) the gross market lease
• $23.5 million — market lease intangible liabilities of $23.5 million. Cumulative impairment charges on prope
• $27.9 m — s owned as of December 31, 2023 totaled $27.9 million, and are reflected within real es
• $25.00 — , 2023 with a liquidation preference of $25.00 per share. (7) Series B Preferred Stoc

Filing Documents

• hct-20240327.htm (8-K) — 140KB
• 0001561032-24-000009.txt ( ) — 319KB
• hct-20240327.xsd (EX-101.SCH) — 3KB
• hct-20240327_def.xml (EX-101.DEF) — 15KB
• hct-20240327_lab.xml (EX-101.LAB) — 28KB
• hct-20240327_pre.xml (EX-101.PRE) — 16KB
• hct-20240327_htm.xml (XML) — 4KB

01. Other Events

Item 8.01. Other Events Determination of Estimated Per-Share Net Asset Value Overview The board of directors (the "Board") of Healthcare Trust, Inc. (the "Company") has previously adopted valuation guidelines used in connection with determining the estimated per-share net asset value ("Estimated Per-Share NAV") of the Company's common stock. Under these guidelines, the Company publishes an Estimated Per-Share NAV on at least an annual basis. Healthcare Trust Advisors, LLC, the Company's advisor (the "Advisor"), calculates the Estimated Per-Share NAV taking into consideration appraisals of the Company's real estate assets (each asset individually, a "Real Estate Asset" and collectively, the "Real Estate Assets") which are performed by an independent valuation firm in accordance with the valuation guidelines. The Advisor reviews these valuations both for consistency with the valuation guidelines and for the reasonableness of the independent valuation firm's conclusions. The independent directors of the Board ultimately make the final determination of Estimated Per-Share NAV. The independent directors of the Board rely on the Advisor's input, including its view of the estimate and the appraisals performed by the independent valuation firm, but may, in the Board's discretion, consider other factors. On March 27, 2024 , the independent directors of the Board, who comprise a majority of the Board unanimously approved an Estimated Per-Share NAV as of December 31, 2023 (the "Valuation Date") equal to $13.00 . T he Estimated Per-Share NAV of $13.00 selected by the independent directors of the Board fell within the range of the values reported by Kroll, LLC (formerly known as Duff & Phelps, LLC) ("Kroll " ), an independent third-party real estate advisory firm engaged by the Company to value its real estate assets and review the valuations of its other assets and liabilities. The range of values provided by Kroll was based on the estimated fair value of the Company's asse

Forward-Looking Statements

Forward-Looking Statements Certain statements made in this Form 8-K are "forward-looking statements" (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect the Company's expectations regarding future events. Forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such forward-looking statements include, but are not limited to, market and other expectations, objectives and intentions, as well as any other statements that are not historical facts. The Company's potential risks and uncertainties are presented in the section titled "Item 1-A — Risk Factors" disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities Exchange Commission (the "SEC") on March 15, 2024 (as amended by that Amendment No. 1 on Form 10-K/A filed with the SEC on March 22, 2024) and all other filings with the SEC after that date. The Company disclaims any obligation to update and revise statements contained in these materials to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law. The following are some of the risks and uncertainties relating to the Company, although not all risks and uncertainties, that could cause the Company's actual results to differ materially from those presented in forward-looking statements: The Company's operating results are affected by economic and regulatory changes that have an adverse impact on the real estate market. The Company's property portfolio has a high concentration of properties located in Florida and Pennsylvania. The Company's properties may be adversely affected by economic cycles and risks inherent to those states. The Company has not paid distributions on its common stock in cash since 2020, and there can be no assurance it will pay distribut

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View this 8-K filing on SEC EDGAR