Thomas Bohjalian, a director at Healthcare Realty Trust Inc (NYSE:HR), recently purchased 4,000 shares of the company's common stock. The transaction, which took place on November 22, 2024, was executed at a weighted-average price of $17.20 per share, totaling approximately $68,800. Following this acquisition, Bohjalian now holds 54,002 shares directly. This purchase was part of multiple trades executed at prices ranging from $17.18 to $17.21.
In other recent news, Healthcare Realty Trust Incorporated revealed a leadership change with the resignation of Todd Meredith (NYSE:MDP) as President and CEO. The company's board appointed Constance "Connie" Moore as interim President and CEO. The company also reported a 1.2% year-over-year increase in its third-quarter normalized Funds From Operations (FFO) per share.
Additionally, the company signed over 400,000 square feet of new leases for the fifth consecutive quarter and reported a 3.1% growth in same-store Net Operating Income (NOI). Healthcare Realty Trust also repurchased nearly $450 million in shares year-to-date and has secured new tenants for $17 million of the $27 million annual NOI exposure due to the Steward bankruptcy.
Guidance for normalized FFO per share for 2024 has been narrowed to $1.55 to $1.56. Despite the challenges posed by the Steward bankruptcy, these recent developments indicate that Healthcare Realty is taking a strategic approach to growth and capital allocation. The company's focus on leasing and operational efficiency positions it favorably for future performance.
InvestingPro Insights
The recent insider buying at Healthcare Realty Trust Inc (NYSE:HR) by director Thomas Bohjalian aligns with several key financial indicators and trends highlighted by InvestingPro.
According to InvestingPro data, Healthcare Realty Trust currently boasts a market capitalization of $6.21 billion and offers a substantial dividend yield of 6.97% as of the latest available data. This attractive yield is complemented by an InvestingPro Tip noting that the company "pays a significant dividend to shareholders." Moreover, Healthcare Realty Trust has maintained dividend payments for an impressive 32 consecutive years, demonstrating a strong commitment to returning value to shareholders.
The company's stock performance has been noteworthy, with a 33.6% total return over the past year. This positive momentum is reflected in the stock trading at 91.64% of its 52-week high, suggesting investor confidence in the company's prospects.
However, it's important to note that Healthcare Realty Trust faces some financial challenges. An InvestingPro Tip indicates that the company's "short-term obligations exceed liquid assets," which could potentially impact its financial flexibility. Additionally, the company reported a negative diluted EPS of -$1.60 for the last twelve months as of Q3 2024, and analysts do not anticipate profitability in the current year.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Healthcare Realty Trust, providing a deeper understanding of the company's financial health and market position.
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