# Healthcare Realty Trust Incorporated (HR)

> Source: Nexqual · https://nexqual.com/HR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Healthcare Realty Trust Incorporated (HR), nexqual.com/HR" · informational, not investment advice.

**Price:** USD 17.93 (+4.00% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 17.24 · day 17.21–17.95 · 52w 16.31–22.04 · market cap $6.22B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.14B, net income -$86.9M (-7.6% margin) (SEC filings).
- 1 of 80 tracked superinvestors hold HR (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $926K; 2 not under a Rule 10b5-1 plan ($926K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.46 on a 1–5 scale) (13 analysts), mean target USD 21.08 (range 18–24).
- Total return with dividends: 1Y +1.0% vs S&P 500 +14.9%; 5Y -3.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0, revenue estimate $280M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $535M | $933M | $1.34B | $1.27B | $1.18B | $1.14B |
| Net income | $66.7M | $40.9M | -$278M | -$654M | -$246M | -$86.9M |
| EPS (diluted) | $0.45 | $0.15 | -$0.74 | -$1.81 | -$0.71 | — |
| Free cash flow | $135M | — | — | — | — | — |
| Net margin | 12.5% | 4.4% | -20.7% | -51.6% | -20.8% | -7.6% |
| Revenue growth | +7.0% | +74.4% | +44.1% | -5.6% | -6.9% | — |
| Cash + short-term investments | $13.2M | $61.0M | $25.7M | $68.9M | $26.2M | — |
| Total debt | $1.80B | $5.35B | $4.99B | $4.66B | $3.91B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 5.4x · EV/Sales 9.1x · P/B 1.5x · Earnings yield -1.40% · Dividend yield (paid, TTM) 5.39% · Buyback yield (TTM) 0.10% · Net debt $4.15B · EV $10.4B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold HR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 0.13% | $44.9M | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-08 | Hull Robert E | EVP and COO | 21,000 | $401K | 7.1% | No | Too little history (no open-market trades in 2025) |
| 2026-06-23 | Callaway Amanda L | SVP & Chief Accounting Officer | 25,767 | $525K | 19% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.46 on a 1–5 scale), 13 analysts; mean target USD 21.08 (low 18, high 24).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Deutsche Bank | Upgrade | Hold → Buy | $18 → $23 |
| 2026-10-19 | Wells Fargo | Target lowered | Equal-Weight | $20 → $18 |
| 2026-10-13 | UBS | Target lowered | Neutral | $21 → $18 |
| 2026-09-01 | Wells Fargo | Target lowered | Equal-Weight | $21 → $20 |
| 2026-08-07 | RBC Capital | Target raised | Sector Perform | $21 → $22 |
| 2026-07-31 | Cantor Fitzgerald | Target raised | Overweight | $22 → $24 |
| 2026-07-09 | JP Morgan | Target raised | Neutral | $19 → $21 |
| 2026-07-08 | UBS | Target raised | Neutral | $20 → $21 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +1.0% | -3.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +1.0% | -0.8% |
| Volatility (annualized) | 19.8% | 25.6% |
| Max drawdown | -21.9% (Jul 2026→Oct 2026) | -45.0% (Aug 2022→Mar 2024) |

## Peers (REIT - Healthcare Facilities)
SBRA (Sabra Health Care REIT, Inc.) USD 19.6 +3.70% · CTRE (CareTrust REIT, Inc.) USD 36.62 +2.72% · NHI (National Health Investors, Inc.) USD 66.96 +3.14% · AHR (American Healthcare REIT, Inc.) USD 53.4 +1.02% · DOC (Healthpeak Properties, Inc.) USD 19.34 +4.65% · OHI (Omega Healthcare Investors, Inc) USD 46.3 +4.16%

## More
Full page: https://nexqual.com/HR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Management fee income/other | $5.6M | 69.7% | +21.4% |
| Parking income | $2.4M | 30.3% | +2.7% |
| Total revenue | $8.0M | 100% | — |

## Company outlook (8-K filed 2026-07-30)

- "EX-99.1 2 exhibit991secondquarter202.htm EX-99.1 Document News Release HEALTHCARE REALTY REPORTS SECOND QUARTER 2026 RESULTS AND FURTHER INCREASES FULL YEAR 2026 GUIDANCE NASHVILLE, Tennessee, July 30, 2026."
- "I n addition, the Company announced an increased 2026 Normalized FFO guidance range of $1.62 to $1.66 per share (diluted), a $0.02 increase at the midpoint from April guidance, and an increased Same Store Cash NOI growth guidance range of 4.25% to 5.00% (+50bps increase at the low end and +25bps at the high end from April guidance)."
- "The transactions are expected to close in the third quarter Disposition Activity Since last quarter, the Company has closed or is under contract to sell approximately $83 million (at share) of assets."
- "The sale is expected to occur by year-end 2026 Development and Redevelopment During the second quarter, the Company leased approximately 60,000 square feet and invested approximately $25 million across its redevelopment portfolio."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.00 | $0.00 | — | $279.8M | 1 |
| Next quarter (ends 2026-12-31) | $0.00 | $0.00 | — | $282.2M | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.10 | $-0.03 | +252.3% | $1.11B | 6 |
| Next fiscal year (ends 2027-12-31) | $0.04 | $0.02 | +100.0% | $1.15B | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±5.4%; last 8 reports averaged ±3.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 23.0% | ±5.4% |
| 2027-02-19 | 119 | 23.2% | ±10.3% |
| 2027-05-21 | 210 | 19.7% | ±12.0% |