Lyle Peter F Sr, a director at Healthcare Realty Trust Inc (NYSE:HR), recently acquired 10,000 shares of the company's common stock. The purchase, which took place on December 13, 2024, was made at a price of $17.21 per share, amounting to a total investment of $172,100. According to InvestingPro data, this insider purchase aligns with broader management share buying activity at the $6.17 billion market cap healthcare REIT, which currently trades near its Fair Value. Following this transaction, Peter's direct ownership in the company increased to 26,576 shares.
In addition to his direct holdings, Peter also maintains an indirect interest in 8,152 shares held in trust. Furthermore, he holds 21,590 partnership units, designated as LTIP Series D Units, in Healthcare Realty Holdings, L.P., which can potentially be converted into common stock of the issuer in the future. These partnership units are intended to qualify as profits interests for U.S. federal income tax purposes and are set to vest in May 2025.
In other recent news, Healthcare Realty Trust Incorporated has seen significant developments. The company reported a 1.2% year-over-year growth in its third-quarter normalized Funds From Operations (FFO) per share. Over 400,000 square feet of new leases were signed for the fifth consecutive quarter, and a 3.1% growth in same-store Net Operating Income (NOI) was recorded. In addition, the company repurchased nearly $450 million in shares year-to-date.
Other recent news includes a leadership change with the resignation of President and CEO Todd Meredith (NYSE:MDP). Constance "Connie" Moore has been appointed as the interim President and CEO. The company's board has begun the search for a permanent successor and reduced its size from 12 to 11 members.
Despite the challenges posed by the Steward bankruptcy, Healthcare Realty has secured new tenants for $17 million of the $27 million annual NOI exposure. The company's management remains optimistic about future performance, with expectations for NOI growth and a reduction in net debt to adjusted EBITDA ratio. These are recent developments in the company's strategic approach to growth and capital allocation.
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