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.
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For further details see:
Healthcare Realty: Large Discount To Recent Dispositions/Replacement Cost