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HR - Healthcare Realty: Large Discount To Recent Dispositions/Replacement Cost
Healthcare Realty Trust Incorporated
2024-02-26 03:06:05 ET
Summary
Healthcare Realty shares have fallen 33% in the past year, underperforming the REIT market.
Concerns about the sustainability of the dividend, but may not be as great as feared.
The company's valuation is significantly discounted compared to recent transactions and replacement costs.
Shares of Healthcare Realty ( HR ) have been pummeled falling by 33% over the past year, massively underperforming the broader REIT market ( VNQ ) which is down just 2%. Shares of Healthcare Realty have stumbled as:
2024 NOI/FFO guidance came in below prior management guidance
Concerns about the sustainability of the dividend, which is not fully covered by 2024 AFFO.