Healthcare Realty Trust Inc. (HR, Financial) filed Quarterly Report for the period ended 2010-06-30.
Healthcare Realty Trust Inc. has a market cap of $1.5 billion; its shares were traded at around $24.08 with and P/S ratio of 5.9. The dividend yield of Healthcare Realty Trust Inc. stocks is 5%.HR is in the portfolios of Stanley Druckenmiller of Duquesne Capital Management, LLC, Manning & Napier Advisors, Inc, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates.
Income from continuing operations for the three months ended June 30, 2010 was $5.0 million, compared to $8.7 million for the same period in 2009. Net income attributable to common stockholders for the three months ended June 30, 2010 was $6.5 million, or $0.11 per basic common share ($0.10 per diluted common share), compared to $16.8 million, or $0.29 per basic common share ($0.28 per diluted common share), for the same period in 2009.
Property operating income increased $1.5 million, or 3.2%, due mainly to the recognition of additional revenue of approximately $1.7 million resulting from the Companys 2009 and 2010 real estate acquisitions and approximately $0.2 million resulting from properties that were previously under construction that commenced operations during 2009. Also, the Company began recognizing the underlying tenant rental income on properties whose master leases had expired, resulting in an approximate $0.1 million in additional property operating income in the second quarter of 2010 compared to the same period in 2009. These increases in property operating income were partially offset by a $0.6 million decrease to property operating income related to a property whose gross revenues were previously reported in property operating income, but are now reported in master lease income upon execution of a new master lease agreement with the tenant.
Property operating expense increased $1.1 million, or 4.9%, due mainly to the recognition of additional expenses of approximately $0.6 million resulting from the Companys 2009 and 2010 real estate acquisitions. Also, properties previously under construction that commenced operations during 2009 resulted in approximately $0.4 million in additional property operating expenses in 2010 compared to 2009. Property operating expense also increased approximately $0.2 million due to properties whose master leases expired, and the Company began incurring the underlying operating expenses of the buildings. These increases were partially offset by a $0.1 million decrease to property operating income resulting from the execution of a master lease agreement in the fourth quarter of 2009 on a property previously managed by the Company whose expenses were previously reported in property operating expense.
Senior Notes due 2017 and $1.5 million due to the mortgage debt incurred in December 2009. These increases were offset partially by a decrease in interest expense of approximately $0.4 million resulting mainly from a lower principal balance on the Unsecured Credit Facility due 2012, as well as increased capitalized interest of approximately $0.4 million. Also, during the second quarter of 2010, the Company received proceeds of approximately $1.2 million relating to the settlement of disputes with former tenants.
Income from continuing operations for the six months ended June 30, 2010 was $6.1 million, compared to $16.1 million for the same period in 2009. Net income attributable to common stockholders for the six months ended June 30, 2010 was $11.1 million, or $0.18 per basic common share ($0.18 per diluted common share), compared to $37.7 million, or $0.65 per basic common share ($0.64 per diluted common share), for the same period in 2009.
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Healthcare Realty Trust Inc. has a market cap of $1.5 billion; its shares were traded at around $24.08 with and P/S ratio of 5.9. The dividend yield of Healthcare Realty Trust Inc. stocks is 5%.HR is in the portfolios of Stanley Druckenmiller of Duquesne Capital Management, LLC, Manning & Napier Advisors, Inc, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates.
Highlight of Business Operations:
FFO for the three and six months ended June 30, 2010 was impacted unfavorably by higher interest expense recognized due to the debt refinancings that occurred during the latter half of 2009. As a result, interest expense for the three and six months ended June 30, 2010 compared to the same periods in 2009 was approximately $6.2 million higher, or $0.10 per diluted common share, and $12.5 million higher, or $0.20 per diluted common share, respectively. Conversely, FFO for the three and six months ended June 30, 2010 was positively impacted from approximately $1.2 million, or $0.02 per diluted common share, of proceeds received from the settlement of disputes with former tenants. Also, FFO for the six months ended June 30, 2009 included a re-measurement gain of $2.7 million, or $0.05 per diluted common share, recognized in connection with the acquisition of the remaining interests in a joint venture.Income from continuing operations for the three months ended June 30, 2010 was $5.0 million, compared to $8.7 million for the same period in 2009. Net income attributable to common stockholders for the three months ended June 30, 2010 was $6.5 million, or $0.11 per basic common share ($0.10 per diluted common share), compared to $16.8 million, or $0.29 per basic common share ($0.28 per diluted common share), for the same period in 2009.
Property operating income increased $1.5 million, or 3.2%, due mainly to the recognition of additional revenue of approximately $1.7 million resulting from the Companys 2009 and 2010 real estate acquisitions and approximately $0.2 million resulting from properties that were previously under construction that commenced operations during 2009. Also, the Company began recognizing the underlying tenant rental income on properties whose master leases had expired, resulting in an approximate $0.1 million in additional property operating income in the second quarter of 2010 compared to the same period in 2009. These increases in property operating income were partially offset by a $0.6 million decrease to property operating income related to a property whose gross revenues were previously reported in property operating income, but are now reported in master lease income upon execution of a new master lease agreement with the tenant.
Property operating expense increased $1.1 million, or 4.9%, due mainly to the recognition of additional expenses of approximately $0.6 million resulting from the Companys 2009 and 2010 real estate acquisitions. Also, properties previously under construction that commenced operations during 2009 resulted in approximately $0.4 million in additional property operating expenses in 2010 compared to 2009. Property operating expense also increased approximately $0.2 million due to properties whose master leases expired, and the Company began incurring the underlying operating expenses of the buildings. These increases were partially offset by a $0.1 million decrease to property operating income resulting from the execution of a master lease agreement in the fourth quarter of 2009 on a property previously managed by the Company whose expenses were previously reported in property operating expense.
Senior Notes due 2017 and $1.5 million due to the mortgage debt incurred in December 2009. These increases were offset partially by a decrease in interest expense of approximately $0.4 million resulting mainly from a lower principal balance on the Unsecured Credit Facility due 2012, as well as increased capitalized interest of approximately $0.4 million. Also, during the second quarter of 2010, the Company received proceeds of approximately $1.2 million relating to the settlement of disputes with former tenants.
Income from continuing operations for the six months ended June 30, 2010 was $6.1 million, compared to $16.1 million for the same period in 2009. Net income attributable to common stockholders for the six months ended June 30, 2010 was $11.1 million, or $0.18 per basic common share ($0.18 per diluted common share), compared to $37.7 million, or $0.65 per basic common share ($0.64 per diluted common share), for the same period in 2009.
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