NASHVILLE, Tenn., Aug. 4 /PRNewswire-FirstCall/ -- Healthcare Realty Trust
Incorporated (NYSE: HR) today announced results for the second quarter ended
June 30, 2008. Revenues for the three months ended June 30, 2008 totaled
$55.1 million, compared with the prior year's $51.5 million. Revenues for the
six months ended June 30, 2008 totaled $109.2 million, compared with the prior
year's $103.3 million. Income from continuing operations for the three months
ended June 30, 2008 totaled $4.8 million, compared with the prior year's $3.8
million. Income from continuing operations for the six months ended June 30,
2008 totaled $9.9 million, compared with the prior year's $5.9 million.
Net income for the second quarter of 2008 totaled $13.8 million, or $0.27
per diluted common share, versus $13.6 million, or $0.29 per diluted common
share, for the second quarter of 2007. Net income for the six months ended
June 30, 2008 totaled $20.6 million, or $0.41 per diluted common share,
compared with $50.0 million, or $1.05 per diluted common share for the six
months ended June 30, 2007. Net income for the three and six months ended
June 30, 2008, as compared to 2007, was affected by the disposition of the
senior living assets and resulting gain in 2007.
Funds from operations ('FFO') is calculated according to the definition of
the National Association of Real Estate Investment Trusts ('NAREIT') and is
comprised primarily of net income and depreciation from real estate, but is
not adjusted for certain non-cash income and expense items. Gains on the sale
of real estate properties are excluded from FFO and FFO per share. FFO
totaled $19.2 million, or $0.38 per diluted common share, for the second
quarter ended June 30, 2008, compared with $18.9 million, or $0.40 per diluted
common share, for the same period in 2007. FFO totaled $38.6 million, or
$0.77 per diluted common share for the six months ended June 30, 2008,
compared with the prior year's $39.2 million, or $0.82 per diluted common
share.
Funds available for distribution for the second quarter of 2008 totaled
$0.43 per diluted common share.
Healthcare Realty Trust is a real estate investment trust that integrates
owning, managing and developing income-producing real estate properties
associated primarily with the delivery of outpatient healthcare services
throughout the United States. The Company had investments of approximately
$1.8 billion in 181 real estate properties and mortgages as of June 30, 2008,
excluding assets classified as held for sale and including investments in
three unconsolidated limited liability companies. The Company's 174 owned
real estate properties, excluding assets classified as held for sale, are
comprised of six facility types, located in 24 states, totaling approximately
10.8 million square feet. The Company provides property management services
to approximately 7.2 million square feet nationwide.
The Company directs interested parties to its Internet site,
www.healthcarerealty.com , where information is posted regarding this
quarter's operations. Please contact the Company at (615) 269-8175 to request
a printed copy of this information.
In addition to the historical information contained within, the matters
discussed in this press release may contain forward-looking statements that
involve risks and uncertainties. These risks are discussed in filings with the
Securities and Exchange Commission by Healthcare Realty Trust, including its
Annual Report on Form 10-K for the year ended December 31, 2007 under the
heading 'Risk Factors,' and as may be updated in its Quarterly Reports on Form
10-Q filed thereafter. Forward-looking statements represent the Company's
judgment as of the date of this release.