Short answer
Healthcare Realty Trust Inc (HR) filed its fiscal 2016 10-K annual report with the SEC on Feb 21, 2017. It reported revenue of $461M and net income of $46M.
- Top risk flagged: Affordable Care Act repeal or modification, following President Trump’s January 20, 2017 executive order, could affect tenant healthcare payments
FY2016 key financial metrics · XBRL
- Revenue
- $461M
- Net income
- $46M
- Operating margin
- 22.1%
- EPS (diluted)
- $0.33
- ROE
- 2.7%
- Operating cash flow
- $204M
Source: XBRL data from the Healthcare Realty Trust Inc (HR) FY2016 10-K on SEC EDGAR. USD.
Healthcare Realty Trust Inc FY2016 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- U.S. REIT focused on owning and operating strategically located medical office buildings, generating stable rental cash flows and dividends
- $700.8 million MOB investment, adding 2.5 million square feet and expanding into Birmingham, Orange County/Los Angeles and Portland
- Strategic emphasis on targeted external growth, internal asset management and recycling six non-core senior care facilities for $39.5 million
- Portfolio reached 17.7 million square feet, with 97% aligned with recognized healthcare systems and 92% in the top 75 MSAs
- Revenue increased 14.1% to $460.9 million, while Same-Property Cash NOI growth reached 2.9%
Management Discussion & Analysis
- Revenue $460.9M, up 14.1% YoY, driven by $55.3M from 2015 and 2016 acquisitions and rent increases
- NOI $317.2M, up 13.1%; Same-Property Cash NOI $258.3M, up 2.9%
- Best segment: key-market acquisitions, $700.8M invested; weakest: dispositions, six facilities sold for $39.5M
- Operating cash flow $203.7M; real estate investments $592.0M; capex $43.0M; dividends $159.2M
- Outlook: 2017 capital improvements $30.0M-$40.0M; risks include lower occupancy, reduced rents, higher leasing costs and inflation valuation_sentence source: oracle[finance] confidence: 0.82
Risk Factors
- Affordable Care Act repeal or modification, following President Trump’s January 20, 2017 executive order, could affect tenant healthcare payments
- Healthcare property concentration: tenant rent payments and occupancy rates vulnerable to sector downturns
- Ground leases cover 32% of total GLA, restricting property use and transfers without landlord consent
- Larger healthcare REITs may have lower capital costs and greater operating efficiencies in MOB acquisitions
- $1.8 billion debt outstanding, with covenants limiting additional indebtedness, acquisitions and capital flexibility
Generated from the filing text; verify against the original. How to read a 10-K
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