Healthcare Realty revenues increase to $81.3M for three months ended December 31, 2012

Healthcare Realty Trust Incorporated (NYSE: HR) today announced results for the fourth quarter ended December 31, 2012. Normalized FFO for the three months ended December 31, 2012 totaled $0.31 per diluted common share. Normalized FAD for the three months ended December 31, 2012 totaled $0.33 per diluted common share. 

Salient highlights include:

• The year-over-year NOI for the same facility portfolio increased 3.8% in the fourth quarter.
• Healthcare Realty's stabilizing properties ("SIP") were 60% leased at year-end 2012. 
• NOI for the SIP properties reached approximately $1 million per quarter.
• Since the beginning of the fourth quarter, the Company acquired five facilities for a total purchase price of $87.6 million.  The buildings total approximately 288,000 square feet and have an average occupancy rate of 98%. 
• The per share results for the quarter were negatively affected by approximately $0.03 because of the 9.2 million shares issued at the end of the third quarter used primarily to fund the Mercy Health properties under construction.  This interim dilution will reverse to accretion as the properties are completed in the second half of 2013.
• In January 2013, the Company sold 1.6 million shares of common stock under its at-the-market equity offering program ("ATM") for approximately $39.7 million in net proceeds used to fund recent acquisitions.
• A dividend of $0.30 per share was declared for the fourth quarter of 2012, which is 90.9% of normalized FAD.

For the three months ended December 31, 2012, revenues grew by $1.7 million to $81.3 million, income from continuing operations totaled $0.4 million, and the Company recognized a net loss, including $7.7 million in impairment charges, totaling $6.4 million.