Healthcare Trust of America, Inc. Reports Fourth Quarter And Full Year 2016 Earnings

Operating

• Net Income Attributable to Common Stockholders: Increased 39.4% to $45.9 million, compared to 2015.  Earnings per diluted share increased 26.9% to $0.33 per diluted share, compared to 2015.
• FFO: As defined by NAREIT, increased 14.5% to $215.6 million, compared to 2015.  FFO per diluted share increased 4.8% to $1.54 per diluted share, compared to 2015.
• Normalized FFO: Increased 15.0% to $225.2 million, compared to 2015.  Normalized FFO per diluted share increased 5.2% to $1.61 per diluted share, compared to 2015.
• Normalized FAD: Increased 12.2% to $200.1 million, compared to 2015.
• Same-Property Cash NOI: Increased $7.3 million, or 2.9%, to $258.3 million, compared to 2015.  Same-Property rental revenue increased $6.7 million, or 2.3%, to $292.3 million, compared to 2015.  Full year 2016 Same-Property Cash NOI only includes those properties that were acquired through the end of 2014.

Portfolio

• Investments: HTA completed $700.8 million of investments totaling approximately 2.5 million square feet of GLA that were 93% leased as of the date of acquisition.
• Dispositions: HTA completed dispositions of six senior care facilities located in Texas and California for an aggregate gross sales price of $39.5 million totaling approximately 226,000 square feet of GLA, generating net gains of $9.0 million.
• Leasing: HTA entered into new and renewal leases on approximately 1.6 million square feet of GLA, or 9.0% of its portfolio.  Tenant retention for the Same-Property portfolio was 80% by GLA for the year ended 2016, which included approximately 1.3 million square feet of expiring leases.  For the year ended 2016, renewal leases included tenant improvements of $1.55 per square foot per year of the lease term and six days of free rent per year of the lease term.
• Leased Rate: At the end of the year, HTA had a leased rate for its portfolio and Same-Property portfolio of 91.9% by GLA.

Capital Markets

• Equity: During the year ended 2016, HTA issued $492.5 million of equity at an average price of $29.33 per share.  This was comprised of $297.8 million from the sale of common stock in underwritten public offerings at an average gross price of $30.64 per share, $122.9 million from the sale of common stock under the ATM at an average gross price of $27.82 per share, and $71.8 million from the issuance of Class A operating partnership units in connection with acquisition transactions.
• Debt: HTA issued $350.0 million of senior unsecured 10-year notes, with a coupon of 3.50% per annum and Healthcare Trust of America Holdings, LP, the operating partnership of HTA, executed a $200.0 million 7-year unsecured term loan with net proceeds used to refinance its $155.0 million unsecured term loan due in 2019.  During the year ended 2016, HTA repaid $110.9 million of existing mortgage loans, generating prepayment penalties of $3.0 million.
• Dividends: During the year ended 2016, HTA's Board of Directors increased the quarterly dividend run rate by 1.7% to $0.30 per share of common stock, representing an annualized rate of $1.20 per share of common stock.

Financial Results - Fourth Quarter 2016
Rental Income
Rental income increased 19.5% to $121.9 million for the three months ended December 31, 2016, compared to $102.0 million for the three months ended December 31, 2015.

Net Income
Net income increased 62.2% to $17.2 million for the three months ended December 31, 2016, compared to $10.6 million for the three months ended December 31, 2015.

FFO
FFO, as defined by NAREIT, was $0.42 per diluted share, or $60.9 million, for the three months ended December 31, 2016, compared to $0.39 per diluted share, or $49.9 million, for the three months ended December 31, 2015.

Normalized FFO
Normalized FFO was $0.41 per diluted share, or $59.5 million, for the three months ended December 31, 2016, compared to $0.39 per diluted share, or $50.7 million, for the three months ended December 31, 2015.

Normalized FAD
Normalized FAD increased 16.3% to $52.2 million for the three months ended December 31, 2016, compared to $44.9 million for the three months ended December 31, 2015.

NOI
NOI was $83.6 million for the three months ended December 31, 2016, compared to $71.5 million for the three months ended December 31, 2015.

Same-Property Cash NOI
Same-Property Cash NOI increased $1.9 million, or 2.9%, to $69.7 million for the three months ended December 31, 2016, compared to $67.8 million for the three months ended December 31, 2015.  Same-Property rental revenue increased $2.0 million, or 2.6%, to $79.0 million for the three months ended December 31, 2016, compared to the three months ended December 31, 2015.

General and Administrative Expenses
General and administrative expenses were $7.9 million for the three months ended December 31, 2016, compared to $6.3 million for the three months ended December 31, 2015. 

Interest Expense and Change in Fair Value of Derivative Financial Instruments
The total interest expense and change in fair value of derivative financial instruments for the three months ended December 31, 2016, was $12.3 million, which included $15.8 million of interest expense related to debt and interest rate swaps and a net gain of $3.5 million on the change in the fair value of HTA's derivative financial instruments.

Investment Activity
During the three months ended December 31, 2016, HTA invested $67.8 million to acquire medical office buildings totaling approximately 224,000 square feet of GLA that were 94% leased as of the date of acquisition and in its key markets of Boston, Massachusetts; Columbus, Ohio; and Raleigh-Durham, North Carolina and completed the disposition of two senior care facilities located in California for an aggregate gross sales price of $13.0 million totaling approximately 71,000 square feet of GLA, generating net gains of $4.8 million.

Tenant Retention
Tenant retention for the Same-Property portfolio was 84% by GLA for the three months ended December 31, 2016, which included approximately 400,000 square feet of expiring leases.

Financial Results - Full Year 2016
Rental Income
Rental income increased 14.1% to $460.6 million for the year ended December 31, 2016, compared to $403.6 million for the year ended December 31, 2015.

Net Income
Net income increased 41.1% to $47.3 million for the year ended December 31, 2016, compared to $33.6 million for the year ended December 31, 2015.

FFO
FFO, as defined by NAREIT, was $1.54 per diluted share, or $215.6 million, for the year ended December 31, 2016, compared to $1.47 per diluted share, or $188.2 million, for the year ended December 31, 2015.

Normalized FFO
Normalized FFO was $1.61 per diluted share, or $225.2 million, for the year ended December 31, 2016, compared to $1.53 per diluted share, or $195.9 million, for the year ended December 31, 2015.

Normalized FAD
Normalized FAD increased 12.2% to $200.1 million for the year ended December 31, 2016, compared to $178.3 million for the year ended December 31, 2015.

NOI
NOI was $317.2 million for the year ended December 31, 2016, compared to $280.4 million for the year ended December 31, 2015.

Same-Property Cash NOI
Same-Property Cash NOI increased $7.3 million, or 2.9%, to $258.3 million for the year ended December 31, 2016, compared to $251.0 million for the year ended December 31, 2015.  Same-Property rental revenue increased $6.7 million, or 2.3%, to $292.3 million for the year ended December 31, 2016, compared to the year ended December 31, 2015.

General and Administrative Expenses
General and administrative expenses were $28.8 million for the year ended December 31, 2016, compared to $25.6 million for the year ended December 31, 2015. 

Interest Expense and Change in Fair Value of Derivative Financial Instruments
The total interest expense and change in fair value of derivative financial instruments for the year ended December 31, 2016, was $60.8 million, which included $62.1 million of interest expense related to debt and interest rate swaps and a net gain of $1.3 million on the change in the fair value of HTA's derivative financial instruments. 

HTA ended the year with a weighted average interest rate of 3.35% per annum, including the impact of interest rate swaps.  The weighted average remaining term of its debt portfolio was 5.7 years, including extension options.

Investment Activity
During the year ended December 31, 2016, HTA completed $700.8 million of investments totaling approximately 2.5 million square feet of GLA that were 93% leased as of the date of acquisition and completed dispositions of six senior care facilities located in Texas and California for an aggregate gross sales price of $39.5 million totaling approximately 226,000 square feet of GLA, generating net gains of $9.0 million.

Leased Rate, Occupancy Rate and Tenant Retention
The leased rate (includes leases which have been executed, but which have not yet commenced) was 91.9% by GLA as of December 31, 2016.  The occupancy rate of HTA's portfolio was 91.2% by GLA as of December 31, 2016.  Tenant retention for the Same-Property portfolio was 80% by GLA for the year ended December 31, 2016, which included approximately 1.3 million square feet of expiring leases.

Credit Rated Tenants
Investment grade rated tenants as a percent of annualized base rent was 41% as of December 31, 2016.  Additionally, 55% of HTA's annualized base rent as of December 31, 2016 was derived from tenants that have (or whose parent companies have) a credit rating from a nationally recognized rating agency.

In-House Property Management and Leasing Platform
As of December 31, 2016, HTA's in-house property management and leasing platform operated approximately 16.1 million square feet of GLA, or 91%, of HTA's total portfolio.

Balance Sheet
As of December 31, 2016, HTA had total assets of $3.7 billion, cash and cash equivalents of $11.2 million, and $756.5 million available on its unsecured revolving credit facility (includes the impact of $5.5 million of outstanding letters of credit).  The leverage ratio of debt to market capitalization was 29.4%.

About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (NYSE: HTA) is the largest dedicated owner and operator of medical office buildings ("MOBs") in the United States, based on gross leasable area ("GLA").  We provide the real estate infrastructure for the integrated delivery of healthcare services in highly desirable locations.  Over the last decade, we have invested $4.2 billion primarily in MOBs and other healthcare assets comprising 17.7 million square feet of GLA.  Our investments are targeted in 20 to 25 key markets that we believe have superior healthcare demographics that support strong, long-term demand for medical office space.  We have achieved, and continue to achieve, critical mass within these key markets by expanding our presence through accretive acquisitions, and utilizing our in-house operating expertise through our regionally located property management and leasing platform.

Founded in 2006 and listed on the New York Stock Exchange in 2012, HTA has produced attractive returns for its stockholders that we believe have significantly outperformed the S&P 500 and US REIT indices.  More information about HTA can be found on the Company's website at www.htareit.com.

Forward-Looking Language
This press release contains certain forward-looking statements with respect to HTA.  Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Because such statements include risks, uncertainties and contingencies, actual results may differ materially and in adverse ways from those expressed or implied by such forward-looking statements.  These risks, uncertainties and contingencies include, without limitation, the following: changes in economic conditions generally and the real estate market specifically; legislative and regulatory changes, including changes to laws governing the taxation of REITs and changes to laws governing the healthcare industry; the availability of capital; changes in interest rates; competition in the real estate industry; the supply and demand for operating properties in our proposed market areas; changes in accounting principles generally accepted in the United States of America; policies and guidelines applicable to REITs; the availability of properties to acquire; and the availability of financing.  Additional information concerning us and our business, including additional factors that could materially and adversely affect our financial results, include, without limitation, the risks described under Part I, Item 1A - Risk Factors, in our Annual Report on Form 10-K and in our filings with the SEC.

Conference Call
HTA will host a conference call and webcast on Thursday, February 16, 2017 at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) to review its financial performance and operating results for the quarter and year ended December 31, 2016.

Conference Call and Webcast Details:
Domestic Dial-In Number: (877) 507-6265
International Dial-In Number: (412) 902-6633
Canada Dial-In Number: (855) 669-9657
Webcast: www.htareit.com under the Investor Relations tab

Replay Conference Call Details:
Domestic Dial-In Number: (877) 344-7529
International Dial-In Number: (412) 317-0088
Canada Dial-In Number: (855) 669-9658
Conference ID: 10098585

Available February 16, 2017 (one hour after the end of the conference call) to March 16, 2017 at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time)

Supplemental Information
Supplemental financial data are available on the Company's website at www.htareit.com.

HEALTHCARE TRUST OF AMERICA, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)
		December 31,
		2016				2015
ASSETS
Real estate investments:
Land		$	386,526			$	303,706
Building and improvements		3,466,516				2,901,157
Lease intangibles		467,571				430,749
		4,320,613				3,635,612
Accumulated depreciation and amortization		(817,593)				(676,144)
Real estate investments, net		3,503,020				2,959,468
Cash and cash equivalents		11,231				13,070
Restricted cash and escrow deposits		13,814				15,892
Receivables and other assets, net		173,461				141,703
Other intangibles, net		46,318				42,167
Total assets		$	3,747,844			$	3,172,300
LIABILITIES AND EQUITY
Liabilities:
Debt		$	1,768,905			$	1,590,696
Accounts payable and accrued liabilities		105,034 Werbung Mehr Nachrichten zur Healthcare Realty Trust A Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 08:29 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Wincanton Plc 08:29 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Shanta Gold Ltd 08:28 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Mattioli Woods plc Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59