Healthcare Trust of America (HTA) Misses Q4 EPS by 4c, Revenues Miss

Healthcare Trust of America (NYSE: HTA) reported Q4 EPS of $0.04, $0.04 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $176.31 million versus the consensus estimate of $177.21 million.

Fourth Quarter 2019:

• Net income Attributable to Common Stockholders was $8.9 million, or $0.04 per diluted share, a decrease of $(0.03) per diluted share, compared to 2018.
• Funds From Operations ("FFO"), as defined by the National Association of Real Estate Investment Trusts ("NAREIT"), was $87.3 million, or $0.41 per diluted share, for Q4 2019. Due to the adoption of Topic 842, certain initial direct costs are now reported in general and administrative expenses. For Q4 2018, HTA capitalized approximately $1.2 million of initial direct costs.
• Normalized FFO was $88.9 million, or $0.42 per diluted share, for Q4 2019, an increase of $0.02, or 5.0%, per diluted share, compared to 2018.
• Normalized Funds Available for Distribution ("FAD") was $72.3 million for Q4 2019.
• Same-Property Cash Net Operating Income ("NOI") increased $2.8 million, or 2.5%, to $114.9 million, compared to Q4 2018. This included same-property rental revenue growth of 1.4%.
• Leasing: HTA's portfolio had a leased rate of 90.8% by gross leasable area (\"GLA\") and an occupancy rate of 89.9% by GLA for Q4 2019. During Q4 2019, HTA executed approximately 1.0 million square feet of GLA of new and renewal leases. Re-leasing spreads increased to 3.4% and tenant retention for the Same-Property portfolio was 76% by GLA for Q4 2019.

"In 2019, HTA grew its best-in-class portfolio with strategic accretive investments in key markets, while continuing to build strong tenant and health system relationships and strategic partnerships," stated Chairman, CEO and President Scott D. Peters. "As we continue to be the leader in the medical office building ("MOB") industry, HTA will look ahead in 2020 for innovative ways to grow as a company and continue to provide attractive returns for our stockholders."

For earnings history and earnings-related data on Healthcare Trust of America (HTA) click here.

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