Healthcare Realty Trust rporated(US:HR)2022-05-16 02:25Company Overview - As of March 31, 2022, Healthcare Realty had an enterprise value of approximately $6 billion [2] - The company's portfolio included 263 properties across 23 states, totaling 179 million square feet [2, 71] - Healthcare Realty manages 148 million square feet internally [2, 71] - Medical office and outpatient properties constitute 96% of the portfolio [2] - 84% of the properties are on or adjacent to hospital campuses [2] Market Focus - The company has significant presence in top MSAs, including Seattle (134% of NOI), Dallas (118% of NOI), and Los Angeles (81% of NOI) [2] - 69% of the company's MOB/Outpatient square footage is located in the Top 25 MSAs [2] - 91% of the company's MOB/Outpatient square footage is located in the Top 50 MSAs [2] Portfolio Composition - 93% of Healthcare Realty's outpatient properties are associated with an investment-grade rated healthcare provider [3] - 584% of HR's total square footage is on-campus [15] - 254% of HR's total square footage is adjacent to campus [15] Investment and Development - The company's historical investment activity shows a cumulative new investment of $29 billion between 2014 and 2021 [40] - Acquisitions accounted for 92% ($2639 million) of these investments, while development projects made up 8% ($235 million) [40] - Healthcare Realty has an embedded re/development pipeline of $12 billion and expects annual starts of $75 million to $125 million [42]