HEALTHCARE(HTIBP)
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HEALTHCARE(HTIBP) - 2023 Q3 - Quarterly Report
2023-11-13 12:16
Property Portfolio - As of September 30, 2023, the company owned 204 properties across 33 states, totaling 9.0 million rentable square feet[271]. - The SHOP segment includes 48 properties with a percentage leased of 74.1% as of September 30, 2023[286]. - The company acquired 7 properties and disposed of 5 properties during the nine months ended September 30, 2023[289]. - The company disposed of four SHOPs and one MOB for an aggregate contract sales price of $13.8 million during the nine months ended September 30, 2023[394]. - During the nine months ended September 30, 2023, the company acquired seven single-tenant MOBs for an aggregate purchase price of $34.9 million[392]. Financial Performance - Net loss attributable to common stockholders decreased to $19.6 million for Q3 2023 from $23.3 million in Q3 2022, representing a reduction of approximately 16%[290]. - Revenue from tenants increased to $85.686 million in Q3 2023, up from $83.460 million in Q3 2022, reflecting a growth of 2.7%[290]. - Total operating expenses decreased to $86.425 million in Q3 2023 from $92.004 million in Q3 2022, a decline of approximately 6.5%[290]. - Net loss attributable to common stockholders decreased to $57.8 million for the nine months ended September 30, 2023, compared to $71.2 million for the same period in 2022, representing an improvement of $13.3 million[326]. - Revenue from tenants increased by $8.2 million to $259.1 million for the nine months ended September 30, 2023, compared to $250.9 million in 2022[326]. Operating Expenses - Property operating and maintenance expenses remained consistent at $9.4 million for both Q3 2023 and Q3 2022[299]. - Property operating and maintenance expenses rose by $3.1 million to $44.95 million for the three months ended September 30, 2023, primarily due to a $4.4 million increase in Same Store Properties expenses[304]. - Property operating and maintenance expenses in the MOB segment increased by $1.4 million, primarily due to a $1.2 million increase from same store properties[331]. - The increase in property operating and maintenance expenses was largely attributed to inflation impacts on utility and maintenance costs, which are reimbursed by tenants[332]. Revenue Segments - Revenue from tenants in the Medical Office Buildings (MOB) segment was $32.594 million in Q3 2023, slightly down from $32.779 million in Q3 2022, a decrease of 0.6%[296]. - Revenue from tenants in the SHOP segment increased by $1.8 million to $52.03 million for the three months ended September 30, 2023, compared to $50.25 million for the same period in 2022[302]. - Revenue from tenants in the MOB segment increased by $3.2 million, driven by $2.4 million from acquired properties and $0.7 million from same store properties[329]. - Revenue from tenants in the SHOP segment increased by $5.0 million to $157.96 million for the nine months ended September 30, 2023, compared to $152.91 million in the same period of 2022, primarily driven by an increase of $8.1 million from Same Store properties[336]. Debt and Interest Expenses - Outstanding debt obligations as of September 30, 2023, were $1.2 billion at a weighted average interest rate of 5.56%, compared to $1.1 billion at 4.29% in the prior year[318]. - Interest expense increased to $15.720 million in Q3 2023 from $13.284 million in Q3 2022, an increase of approximately 18.3%[290]. - Interest expense increased by $13.1 million to $50.2 million for the nine months ended September 30, 2023, compared to $37.1 million in 2022[326]. - Interest expense increased by $2.4 million to $15.7 million for the three months ended September 30, 2023, due to higher average rates and balances of indebtedness[317]. Dividends and Distributions - The company has declared and paid quarterly dividends entirely in shares of common stock since October 2020, with an Estimated Per-Share NAV of $14.00 as of December 31, 2022[274]. - Since mid-2020, no cash dividends have been paid on common stock, only stock dividends at a rate of $0.85 per share per year[413]. - Total cash distributions for the nine months ended September 30, 2023, amounted to $10.487 million, with each quarter showing consistent distributions around $3.494 million to $3.497 million[416]. - The Board may reduce or suspend dividend payments based on various factors, including financial condition and capital expenditure requirements[414]. Cash Flow and Operating Activities - Net cash provided by operating activities was $16.4 million for the nine months ended September 30, 2023, with cash inflows including non-cash items of $18.1 million[361]. - Net cash provided by operating activities for the nine months ended September 30, 2023, was $21.1 million, with cash inflows including non-cash items of $30.4 million[362]. - Cash flows provided by operations for the nine months ended September 30, 2023, were $16.358 million, indicating a reliance on operational cash flow to fund distributions[416]. Economic and Market Conditions - The company’s ability to pay dividends depends on increasing cash generated from property operations, which is influenced by various external factors[418]. - Increased operating costs under net leases could adversely affect tenants' ability to pay rent, impacting the company's revenue[421]. - The company faces risks related to inflation and labor costs in its SHOPs, which could affect operational results if unable to renew leases at market rates[422]. - As of September 30, 2023, the 12-month CPI increase was 3.7%, impacting leases without indexed escalation provisions[420]. - Most leases in the MOB segment contain rent escalation provisions, but these rates are generally below the current inflation rate, potentially affecting revenue[420].
HEALTHCARE(HTIBP) - 2023 Q2 - Quarterly Report
2023-08-11 11:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 415-6500 Former name, former address and former fiscal year, if changed since last report: Not Applicable OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI ...
HEALTHCARE(HTIBP) - 2023 Q1 - Quarterly Report
2023-05-12 10:51
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 001-39153 Healthcare Trust, Inc. (Exact name of registrant as specified in its charter) | Maryland | | 38-3888 ...
HEALTHCARE(HTIBP) - 2022 Q4 - Annual Report
2023-03-17 12:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 001-39153 Healthcare Trust, Inc. (Exact name of registrant as specified in its charter) Maryland 38-3888962 (State ...