Healthcare Realty appoints Peter Scott as new CEO

NASHVILLE - Healthcare Realty Trust Incorporated (NYSE:HR), a real estate investment trust specializing in medical outpatient buildings with a market capitalization of $5.65 billion, announced today the unanimous appointment of Peter A. Scott as its new President and Chief Executive Officer, effective April 15, 2025. Peter Scott, who has served as the Chief Financial Officer of Healthpeak Properties, Inc. since 2017, will also be expected to join the Healthcare Realty Board following the company’s 2025 annual meeting of stockholders.

Scott brings a wealth of experience from his tenure at Healthpeak, an S&P 500 company with approximately $25 billion in assets, where he played a pivotal role in mergers, asset restructuring, and balance sheet improvements. His prior experience includes a Managing Director role in the Real Estate Investment Banking Group at Barclays and positions at Credit Suisse and Lehman Brothers.

Glenn Rufrano, chair of the CEO search committee, highlighted Scott’s successful track record and deep industry experience as key factors in his selection. Scott expressed his eagerness to lead Healthcare Realty and leverage the company’s platform to accelerate growth and deliver stakeholder value.

Connie Moore, who has served as Interim President and CEO since November 2024, will continue her involvement with the company as a member of the Board. Thomas N. Bohjalian, Independent Chair of the Board, thanked Moore for her leadership during the transition and welcomed Scott’s expertise in corporate strategy and capital allocation.

Healthcare Realty owns and operates over 650 properties, encompassing more than 38 million square feet, and focuses on growth through property acquisition and development. The company’s portfolio is concentrated in 15 growth markets. InvestingPro analysis reveals the company maintains a defensive beta of 0.72 and generated $252.6 million in levered free cash flow over the last twelve months, despite current market challenges. For deeper insights into Healthcare Realty’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

This leadership change comes as part of the company’s ongoing efforts to enhance its position in the healthcare real estate market. The information in this article is based on a press release statement from Healthcare Realty Trust Incorporated.

In other recent news, Healthcare Realty Trust reported its fourth-quarter 2024 financial results, highlighting several key developments. The company announced it sold $429 million in real estate assets during the year, maintaining strong liquidity with over $900 million available. Despite a 2.8% decrease in net operating income (NOI) for its office segment, the industrial segment experienced a 6.3% increase, showcasing a balanced approach to asset management. The company’s strategic focus on U.S. markets, particularly in the Sunbelt region, aligns with broader market trends and shows promising demand for multifamily units. Healthcare Realty Trust’s funds from operations (FFO) per unit for Q4 2024 was $0.298, a slight decrease from the previous year.

Scotiabank analyst Nicholas Yulico adjusted the price target for Healthcare Realty Trust to $17.00 from $18.00, maintaining a Sector Perform rating. This adjustment followed the company’s fiscal year 2025 guidance for normalized Funds From Operations Per Share (FFOPS), which was $1.58 at the midpoint, falling short of expectations. Despite this, the company signed approximately 690,000 square feet of new leases in the fourth quarter, surpassing the trailing twelve-month average. The fiscal year 2024 multi-tenant absorption met management’s expectations, leading to an anticipated acceleration in same-store cash NOI growth for FY25. The company also faces challenges with elevated maintenance capital expenditures and an estimated dividend payout ratio exceeding 100% for the next two fiscal years.

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