Healthcare Realty Trust Inc — Form 8-K
Filed July 30, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Healthcare Realty Trust increased full-year 2026 Normalized FFO guidance to $1.62–$1.66/share (midpoint +$0.02 from April) and Same Store Cash NOI growth to 4.25–5.00% (+50–25 bps). The company issued $700 million of 3.00% Exchangeable Senior Notes due 2032 to repay a $600 million Senior Notes due August 2026, repurchased 3.8 million shares for $75 million, and entered a $400 million unsecured delayed draw term loan (May 15, 2029 maturity). Q2 2026 delivered $0.41 Normalized FFO/share, 5.1% same-store NOI growth, 88.5% tenant retention, and $170M quarterly cash NOI.
Why this rating
Guidance raise and strong operational metrics (5.1% NOI growth, 88.5% retention) are constructive. Debt refinancing manages maturity risk and share buyback is modest (3.8M of ~347M shares, 1.1%). However, net debt 5.6x EBITDA and $200M JV acquisitions at 7.5% yield are moderate. Sized 1–2% of $5.5B market cap.
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