Healthcare Realty Trust Announces First Quarter Results

Apr 26, 2001, 01:00 ET from Healthcare Realty Trust Incorporated

    NASHVILLE, Tenn., April 26 /PRNewswire/ --
     Healthcare Realty Trust Incorporated (NYSE:   HR) today announced results
 for the first quarter ended March 31, 2001.  Revenues for the first quarter
 totaled $48.2 million, compared with the prior year's $48.3 million.  Net
 income for the period was $20.6 million, or $0.47 per diluted common share,
 versus $20.5 million, or $0.47 per diluted common share, for the first quarter
 of 2000.  Funds from operations, comprised primarily of net income and
 depreciation from real estate, totaled $26.6 million for the first quarter
 ended March 31, 2001, compared with $26.7 million for the first quarter ended
 March 31, 2000.  Funds from operations, per diluted common share, for the
 first quarter was $0.66, compared with $0.65 for the previous quarter and
 $0.67 for the first quarter of 2000.
     Healthcare Realty Trust is a real estate investment trust that integrates
 owning, managing and developing income-producing real estate properties
 associated with the delivery of healthcare services throughout the United
 States.  The Company's portfolio is comprised of nine major facility types,
 located in 32 states nationwide, and operated pursuant to contractual
 arrangements with 68 healthcare providers.  The Company has investments of
 approximately $1.7 billion in 266 real estate properties or mortgages,
 totaling almost twelve million square feet.  The Company provides property
 management or asset management services to approximately seven million square
 feet nationwide.
     The Company directs interested parties to it's Internet page site,
 www.healthcarerealty.com, where material 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 a 10-K filed with the SEC by Healthcare Realty Trust for the
 year ended December 31, 2000.  Forward-looking statements represent the
 Company's judgment as of the date of this release.  The Company disclaims any
 obligation to update forward-looking material.
 
                      HEALTHCARE REALTY TRUST INCORPORATED
                  Condensed Consolidated Statements of Income
                                  (Unaudited)
                 (Dollars in thousands, except per share data)
 
 
                                                         Three Months Ended
                                                              March 31,
                                                         2001           2000
     Revenues:
 
      Master lease rental income                      $25,087        $24,017
      Property operating income                        16,450         15,178
      Straight line rent                                1,748          1,470
      Mortgage interest income                          4,539          6,353
      Management fees                                     342            732
      Interest and other income                            63            509
                                                       48,229         48,259
     Expenses:
      General and administrative                        2,035          2,154
      Property operating expenses                       6,191          5,464
      Interest                                          9,785         10,526
      Depreciation                                     10,112          9,545
      Amortization                                         80            117
                                                       28,203         27,806
 
     Net income before net gain (loss) on
      sale of real estate properties                  $20,026        $20,453
 
     Net gain (loss) on sale of real estate properties    618             --
 
     Net income                                       $20,644        $20,453
 
     Net income per common share - Basic                $0.48          $0.48
 
     Net income per common share - Diluted              $0.47          $0.47
 
     Funds from operations - Basic                    $26,566        $26,723
 
     Funds from operations - Diluted                  $26,637        $26,723
 
     Funds from operations per common share - Basic     $0.67          $0.68
 
     Funds from operations per common share - Diluted   $0.66          $0.67
 
     Weighted average common shares outstanding -
      Basic                                        39,628,676     39,439,719
 
     Weighted average common shares outstanding -
      Diluted                                      40,540,420     40,114,946
 
     Healthcare Realty Trust maintains a website: www.healthcarerealty.com to
 provide general corporate, investor and financial information.
 
     Except for 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 fully disclosed in a 10K
 filed with the SEC by Healthcare Realty Trust for the year ended December 31,
 2000.  Forward-looking statements represent the Company's judgment as of the
 date of this release.  The Company disclaims any intent to update forward-
 looking material.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X42777823
 
 

SOURCE Healthcare Realty Trust Incorporated
    NASHVILLE, Tenn., April 26 /PRNewswire/ --
     Healthcare Realty Trust Incorporated (NYSE:   HR) today announced results
 for the first quarter ended March 31, 2001.  Revenues for the first quarter
 totaled $48.2 million, compared with the prior year's $48.3 million.  Net
 income for the period was $20.6 million, or $0.47 per diluted common share,
 versus $20.5 million, or $0.47 per diluted common share, for the first quarter
 of 2000.  Funds from operations, comprised primarily of net income and
 depreciation from real estate, totaled $26.6 million for the first quarter
 ended March 31, 2001, compared with $26.7 million for the first quarter ended
 March 31, 2000.  Funds from operations, per diluted common share, for the
 first quarter was $0.66, compared with $0.65 for the previous quarter and
 $0.67 for the first quarter of 2000.
     Healthcare Realty Trust is a real estate investment trust that integrates
 owning, managing and developing income-producing real estate properties
 associated with the delivery of healthcare services throughout the United
 States.  The Company's portfolio is comprised of nine major facility types,
 located in 32 states nationwide, and operated pursuant to contractual
 arrangements with 68 healthcare providers.  The Company has investments of
 approximately $1.7 billion in 266 real estate properties or mortgages,
 totaling almost twelve million square feet.  The Company provides property
 management or asset management services to approximately seven million square
 feet nationwide.
     The Company directs interested parties to it's Internet page site,
 www.healthcarerealty.com, where material 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 a 10-K filed with the SEC by Healthcare Realty Trust for the
 year ended December 31, 2000.  Forward-looking statements represent the
 Company's judgment as of the date of this release.  The Company disclaims any
 obligation to update forward-looking material.
 
                      HEALTHCARE REALTY TRUST INCORPORATED
                  Condensed Consolidated Statements of Income
                                  (Unaudited)
                 (Dollars in thousands, except per share data)
 
 
                                                         Three Months Ended
                                                              March 31,
                                                         2001           2000
     Revenues:
 
      Master lease rental income                      $25,087        $24,017
      Property operating income                        16,450         15,178
      Straight line rent                                1,748          1,470
      Mortgage interest income                          4,539          6,353
      Management fees                                     342            732
      Interest and other income                            63            509
                                                       48,229         48,259
     Expenses:
      General and administrative                        2,035          2,154
      Property operating expenses                       6,191          5,464
      Interest                                          9,785         10,526
      Depreciation                                     10,112          9,545
      Amortization                                         80            117
                                                       28,203         27,806
 
     Net income before net gain (loss) on
      sale of real estate properties                  $20,026        $20,453
 
     Net gain (loss) on sale of real estate properties    618             --
 
     Net income                                       $20,644        $20,453
 
     Net income per common share - Basic                $0.48          $0.48
 
     Net income per common share - Diluted              $0.47          $0.47
 
     Funds from operations - Basic                    $26,566        $26,723
 
     Funds from operations - Diluted                  $26,637        $26,723
 
     Funds from operations per common share - Basic     $0.67          $0.68
 
     Funds from operations per common share - Diluted   $0.66          $0.67
 
     Weighted average common shares outstanding -
      Basic                                        39,628,676     39,439,719
 
     Weighted average common shares outstanding -
      Diluted                                      40,540,420     40,114,946
 
     Healthcare Realty Trust maintains a website: www.healthcarerealty.com to
 provide general corporate, investor and financial information.
 
     Except for 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 fully disclosed in a 10K
 filed with the SEC by Healthcare Realty Trust for the year ended December 31,
 2000.  Forward-looking statements represent the Company's judgment as of the
 date of this release.  The Company disclaims any intent to update forward-
 looking material.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X42777823
 
 SOURCE  Healthcare Realty Trust Incorporated

RELATED LINKS

http://www.healthcarerealty.com