NASHVILLE, Tenn.—Thomas N. Bohjalian, a director at Healthcare Realty Trust Inc. (NYSE:HR), recently increased his stake in the company by purchasing a total of 7,750 shares. The transactions, executed on November 22, 2024, amounted to a total value of $134,795. The shares were acquired at prices ranging from $17.34 to $17.75 each.
Following these transactions, Bohjalian now holds 50,002 shares of the real estate investment trust, which is headquartered in Nashville. The acquisitions were made directly, as per the filing with the Securities and Exchange Commission.
In other recent news, Healthcare Realty Trust Incorporated has undergone significant leadership changes, with Todd Meredith (NYSE:MDP) stepping down as President and CEO. The company's board has appointed Constance "Connie" Moore as the interim President and CEO while they conduct a search for a permanent successor. Concurrently, Healthcare Realty Trust reported a steady 1.2% year-over-year growth in third-quarter normalized Funds From Operations (FFO) per share, marking a positive trend in their earnings.
The company has also signed over 400,000 square feet of new leases for the fifth consecutive quarter and reported a 3.1% growth in same-store Net Operating Income (NOI). Despite the challenges posed by the Steward bankruptcy, new tenants have been secured to mitigate the impact on annual NOI. The company has repurchased nearly $450 million in shares year-to-date, demonstrating a strategic approach to capital allocation.
Additionally, interim CFO Austen Helfrich provided an optimistic financial outlook, forecasting NOI growth and a reduction in net debt to adjusted EBITDA ratio. Guidance for normalized FFO per share for 2024 has been narrowed to $1.55 to $1.56. These developments underline Healthcare Realty Trust's resilience and strategic growth approach amidst market challenges.
InvestingPro Insights
The recent insider buying by Thomas N. Bohjalian at Healthcare Realty Trust Inc. (NYSE:HR) aligns with several key financial metrics and trends observed in the company's performance. According to InvestingPro data, Healthcare Realty Trust currently boasts a market capitalization of $6.24 billion, reflecting its significant presence in the healthcare REIT sector.
One of the most striking features of HR is its attractive dividend yield, which stands at 6.97% as of the latest data. This high yield is complemented by an InvestingPro Tip noting that the company "pays a significant dividend to shareholders." Furthermore, HR has maintained dividend payments for an impressive 32 consecutive years, demonstrating a strong commitment to returning value to shareholders.
However, investors should be aware that the company's financial health presents a mixed picture. An InvestingPro Tip indicates that HR's "short-term obligations exceed liquid assets," which could potentially impact its financial flexibility. Additionally, the company's profitability has been challenged, with a negative P/E ratio of -31.17 for the last twelve months as of Q3 2024.
Despite these challenges, HR's stock has shown resilience, with a one-year price total return of 33.6%. This performance suggests that investors may be focusing on the company's long-term potential and its consistent dividend payments rather than short-term profitability concerns.
For those seeking a deeper understanding of Healthcare Realty Trust's financial position and prospects, InvestingPro offers 7 additional tips, providing a more comprehensive analysis for informed investment decisions.
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