Healthcare Realty Trust Q4 Earnings Call Highlights

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MarketBeat

Fri, February 13, 2026 astatine 10:22 AM CST 8 min read

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Healthcare Realty says it finished 2025 “ahead of schedule” connected its three‑year strategical plan, completing an asset‑management level reset that boosted currency leasing spreads +60 bps and tenant retention +220 bps, delivered a $10 cardinal G&A run‑rate reduction, sold $1.2 billion of non‑core assets, and drove ~4.8% same‑store NOI maturation with normalized FFO of $1.61.
Management reports balance‑sheet repair is mostly complete—net debt/EBITDA down to 5.4x with standing outlooks stable—and is prioritizing disciplined superior allocation: redevelopments (~10% output connected cost), selective buybacks ($50m repurchased successful January, $450m authorization remaining) and lone accretive JVs, portion maintaining a “right‑sized” dividend adjacent a 6% yield.
For 2026 the institution guided normalized FFO to $1.58–$1.64 (midpoint $1.61), reflecting astir 5% halfway net maturation offset by dilution from 2025 dispositions, expects same‑store currency NOI maturation of 3.5–4.5%, and plans to refinance a $600m enslaved mid‑year (targeting low‑5% coupon) portion launching a $600m commercialized insubstantial program.
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Healthcare Realty Trust (NYSE:HR) executives told investors the institution ended 2025 “ahead of schedule” connected a three-year strategical program that absorption says is reshaping its outpatient aesculapian existent property platform. On the company’s fourth-quarter 2025 net call, President and CEO Pete Scott said the twelvemonth was “transformational” and highlighted advancement crossed operations, expenses, portfolio repositioning, and equilibrium expanse repair.

Scott said Healthcare Realty has completed respective large initiatives laid retired successful its July strategical plan. He reported that the revamp of the plus absorption level is complete, with a caller enactment squad and a leasing exemplary intended to amended instrumentality connected concern crossed the portfolio. Scott said that nether the caller approach, currency leasing spreads improved 60 ground points and tenant retention improved 220 ground points, alongside “a meaningful uptick” successful lease IRRs and lease payback periods.

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On overhead, Scott said the institution has achieved a $10 cardinal run-rate simplification successful wide and administrative expense, bringing full G&A to $45 million, and noted a 60-basis-point betterment successful spot NOI margins with what helium described arsenic further borderline enlargement imaginable ahead.

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