- Healthcare Realty Trust ( NYSE: HR ) on Wednesday posted Q4 earnings above Wall Street expectations driven by continued net operating income growth and a decrease in expenses.
- Q4 adjusted FFO of $0.42, topping the $0.40 average analyst estimate, increased from $0.39 (including the negative effect of non-cash, merger-related fair value debt adjustments of $0.03 per share) in Q3.
- Revenue of $338.06M, falling short of the $344.00M consensus, climbed from $306.35M in the three months ended Sept. 30, 2021.
- Rental income was $329.40M compared with $298.93M in Q3.
- Expenses totaled $327.57M, down from $367.22M in the previous quarter.
- Same-store cash NOI, including the company's share of joint ventures, gained 2.8% over the prior year, as average in-place rent increases stood at 2.81%.
- Portfolio leasing activity totaled 1,113,000 square feet related to 336 leases, comprised of 671,000 square feet of renewals and 442,000 square feet of new and expansion lease.
- Earlier, Healthcare Realty FFO of $0.42 beats by $0.02, revenue of $338.06M misses by $5.94M .
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Healthcare Realty Q4 profit tops consensus on NOI growth, lower costs