Stock Monitor: Universal Health Realty Income Trust Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 27, 2018 / Active-Investors.com has just released a free earnings report on Healthcare Trust of America, Inc. (NYSE: HTA) ("HTA"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HTA. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 15, 2018. The medical office building real estate investment trust's FFO numbers were in-line with market estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Universal Health Realty Income Trust (NYSE: UHT), which also belongs to the Financial sector as the Company Healthcare Trust of America. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Healthcare Trust of America most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For Q4 2017, HTA's revenues totaled $173.6 million compared to $121.9 million in Q4 2016. The Company's rental income surged 42.4% to $173.8 million in the reported quarter compared to $121.9 million in the prior year's same quarter. HTA's revenue numbers fell short of analysts' estimates of $176.1 million.
During Q4 2017, HTA's net operating income (NOI) advanced 44.2% to $120.5 million compared to $83.6 million in Q4 2016. The Company's same-property cash NOI grew 2.8% to $82.5 million in the reported quarter versus $80.2 million in the year earlier comparable quarter.
HTA's net income increased to $43.5 million, or $0.20 per diluted share, in Q4 2017 compared to $17.2 million, or $0.11 per diluted share, in Q4 FY16.
For Q4 2017, HTA's funds from operations (FFO), as defined by the National Association of Real Estate Investment Trusts (NAREIT), were $85.6 million, or $0.41 per diluted share, compared to $60.9 million, or $0.42 per diluted share, in Q4 2016. The Company's normalized FFO were $0.42 per diluted share compared to $0.41 per diluted share in the year ago same period. HTA's FFO numbers met Wall Street's estimates of $0.42 per share.
HTA's normalized funds available for distribution (FAD) advanced 39.1% to $72.6 million in Q4 2017 compared to $52.2 million in Q4 2016.
For the full fiscal year ended December 31, 2017, HTA's revenues totaled $614.0 million, up 33% compared to $460.6 million in FY17. The Company's rental income increased 33.0% to $612.6 million compared to $460.6 million in FY16.
For FY17, HTA's net income totaled $65.6 million, or $40.34 per diluted share, compared to $47.3 million, or $0.33 per diluted share, in FY16.
HTA's FFO, as defined by NAREIT, were $284.2 million, or $1.53 per diluted share, in FY17 compared to $215.6 million, or $1.54 per diluted share, in FY16. The Company's normalized FFO were $1.63 per diluted share in FY17 compared to $1.61 per diluted share in FY16.
During Q4 2017, HTA completed investments of $32.7 million, which consisted of medical office buildings (MOB), a parcel of land which was part of the acquisition of the Duke Assets, and an expansion project. The Company completed the disposition of three MOB located in Wisconsin and California, for an aggregate sales price of $80.2 million, totaling approximately 195,000 square feet of gross leasable area (GLA), generating gains of $37.8 million.
In Q4 2017, HTA entered into new and renewal leases on approximately 672,000 square feet of GLA, or 2.8% of its portfolio.
For Q4 2017, HTA's tenant retention for the same-property portfolio was 86% by GLA, which included approximately 217,000 square feet of GLA of expiring leases. Renewal leases included tenant improvements of $2.39 per square foot per year of the lease term, and approximately 10 days of free rent per year of the lease term.
HTA's leased rate was 91.8% by GLA as of December 31, 2017. The occupancy rate of HTA's portfolio was 91.0% by GLA as of December 31, 2017. Tenant retention for the same-property portfolio was 78% by GLA as of December 31, 2017, which included approximately 1.5 million square feet of GLA of expiring leases.
HTA's investment grade rated tenants was 47% of annualized base rent as of December 31, 2017. As of December 31, 2017, the Company's in-house property management and leasing platform operated approximately 22.4 million square feet of GLA, or 93%, of HTA's total portfolio.
During FY17, HTA completed investments of $2.7 billion, net of development credits received at the closing of the Duke acquisition, including its investment in an unconsolidated joint venture, totaling 6.8 million square feet of GLA, including projects under development, which were 93% leased as of the acquisition date.
As of December 31, 2017, HTA had total assets of $6.4 billion; cash and cash equivalents of $100.4 million; and $991.2 million available under its unsecured revolving credit facility. The Company's leverage ratio of net debt to total capitalization was 29.9% as of December 31, 2017.
Stock Performance Snapshot
March 26, 2018 - At Monday's closing bell, Healthcare Trust of America's stock rose 1.00%, ending the trading session at $25.36.
Volume traded for the day: 1.23 million shares.
After yesterday's close, Healthcare Trust of America's market cap was at $5.29 billion.
Price to Earnings (P/E) ratio was at 76.85.
The stock has a dividend yield of 4.81%.
The stock is part of the Financial sector, categorized under the REIT - Healthcare Facilities industry. This sector was up 2.6% at the end of the session.
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