Logotype for Healthcare Realty Trust Incorporated

Healthcare Realty Trust (HR) investor relations material

Healthcare Realty Trust Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Healthcare Realty Trust Incorporated
Q2 2025 earnings summary1 Aug, 2025

Executive summary

  • Reported Q2 2025 GAAP net loss of $(0.45) per share and Normalized FFO of $0.41 per share, with FAD of $115.4 million and a 96% payout ratio, reflecting strong leasing and cost management despite significant impairments and lower rental income from asset sales.

  • Strategic overhaul underway, including new leadership, board reduction from 12 to 7 (majority with REIT CEO experience), and a shift from transaction to operations focus, with a published plan to drive operational improvement and maximize shareholder value.

  • Portfolio segmented into stabilized (75%), lease up (13%), and disposition (12%) assets, with targeted investments and asset sales to optimize NOI growth and geographic focus.

  • Dividend reduced by 23% to $0.24 per share quarterly, lowering payout ratio to ~80% and freeing $100M annually for reinvestment and balance sheet strengthening.

  • Three-year growth framework targets NFFO per share of $1.65–$1.85, driven by NOI growth, cost savings, and portfolio actions.

Financial highlights

  • Normalized FFO per share was $0.41 for Q2 2025, up $0.02 sequentially and nearly 7% year-over-year; FAD per share increased to $0.33, with a 96% payout ratio.

  • Same store cash NOI grew 5.1% year-over-year, with occupancy up 40 bps sequentially to 90% and tenant retention at 83%.

  • Asset sales of $211M completed YTD at a blended 6.2% cap rate; $700M under contract or LOI, with $900M in total sales completed or under contract YTD.

  • Net debt to adjusted EBITDA at 6.0x, expected to improve to 5.4x–5.7x by year end.

  • Q2 2025 rental income was $287.1 million (down from $308.1 million in Q2 2024) due to property dispositions.

Outlook and guidance

  • 2025 Normalized FFO per share guidance raised by $0.01 to $1.57–$1.61, with three-year NFFO per share forecasted at $1.65–$1.85.

  • Full-year disposition outlook increased to $800M–$1B; $1B in asset sales expected to close in 2025 at a 7% blended cap rate.

  • Three-year plan targets $300M capital investment in lease up/redevelopment, aiming for $50M incremental NOI and 3–4% annual NOI growth.

  • Management expects to fund 2025 dividends from operations and available liquidity.

  • Same store cash NOI growth guidance raised to 3.25%–4.00% for the year.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Healthcare Realty Trust earnings date

Logotype for Healthcare Realty Trust Incorporated
Q3 202531 Oct, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Healthcare Realty Trust earnings date

Logotype for Healthcare Realty Trust Incorporated
Q3 202531 Oct, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Healthcare Realty Trust Incorporated is a real estate investment trust that owns, manages, and develops medical office buildings. The company leases its properties primarily to hospitals and healthcare providers across the United States, focusing on outpatient and ambulatory care facilities. The company is headquartered in Nashville, Tennessee, and its shares are listed on the NYSE.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage