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Healthcare Trust Of America Holdings, Lp (1495491) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Healthcare Trust Of America Holdings, Lp

CIK: 1495491


Exhibit 99.1
bestinclasslogoa06.jpg
 
PRESS RELEASE
 
Financial Contact:
 
Robert A. Milligan
 
Chief Financial Officer
 
480.998.3478
HEALTHCARE TRUST OF AMERICA, INC. REPORTS 2018 RESULTS AND 2019 EARNINGS GUIDANCE
Record Earnings Per Share of $1.02 for 2018
2.5% Same-Property Cash NOI Growth, including 2.7% Growth in Q4 2018
5.4x Net Debt/Adjusted EBITDAre and $1.1 Billion in Liquidity
Scottsdale, Arizona (February 14, 2019) - Healthcare Trust of America, Inc. (NYSE: HTA) (“HTA”) announced results for the quarter and year ended December 31, 2018.
“In 2018, HTA demonstrated its ability to execute in all market conditions. Our portfolio remains best-in-class, generating Same-Property Cash NOI growth of 2.5% for the year, driven primarily by solid rental revenue gains of 2.2%. Pricing power is strong, as evidenced by an acceleration in re-leasing spreads to 4.4% in the fourth quarter,” stated Chairman, CEO and President Scott D. Peters. “We remained disciplined in our capital allocation, selling non-core assets at attractive pricing, focusing on relationship driven developments, and avoiding lower quality assets that continue to trade at aggressive pricing. As a result, we enter 2019 with a fortress balance sheet that provides us with security and flexibility to pursue opportunities in these changing real estate markets.”
Highlights
Fourth Quarter 2018:
Net Income Attributable to Common Stockholders was $15.3 million, or $0.07 per diluted share, for Q4 2018.
Funds From Operations (“FFO”), as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), was $85.2 million, or $0.41 per diluted share, for Q4 2018.
Normalized FFO was $84.2 million, or $0.40 per diluted share, for Q4 2018.
Normalized Funds Available for Distribution (“FAD”) was $68.3 million for Q4 2018.
Same-Property Cash Net Operating Income (“NOI”) increased 2.7%, to $111.4 million, compared to Q4 2017.
Leasing: HTA’s portfolio leased rate increased 20 basis points to 92.0%, compared to Q4 2017. During Q4 2018, HTA executed 0.6 million square feet of gross leasable area (“GLA”) of new and renewal leases. Re-leasing spreads increased to 4.4% while tenant retention for its Same-Property portfolio was 77% by GLA for Q4 2018.
Capital Allocation: During Q4 2018, HTA paid down approximately $68 million in outstanding secured mortgage loans at an interest rate of approximately 5.5% per annum. HTA also repurchased $50.7 million of its outstanding common stock at an average price of $26.08 per share under its stock repurchase plan during Q4 2018.
Year Ended 2018:
Net Income Attributable to Common Stockholders was $213.5 million, or $1.02 per diluted share, an increase of $0.68 per diluted share, compared to 2017.
FFO, as defined by NAREIT, was $335.6 million, or $1.60 per diluted share, an increase of $0.07 per diluted share, compared to 2017.
Normalized FFO was $340.4 million, or $1.62 per diluted share, an increase of 12.7%, compared to 2017.
Normalized FAD was $285.3 million, an increase of 9.4%, compared to 2017.
Same-Property Cash NOI increased 2.5%, to $308.9 million, compared to 2017. Excluding the medical office buildings (“MOBs”) located on HTA’s Forest Park Dallas campus, Same-Property Cash NOI growth was 2.9% for 2018.
Leasing: During 2018, HTA executed approximately 2.8 million square feet of GLA of new and renewal leases, or over 12%, of the total GLA of its portfolio. Re-leasing spreads increased to 2.6% while tenant retention for its Same-Property portfolio was 81% by GLA for 2018.
Balance Sheet and Capital Markets
Debt: During 2018, HTA paid down approximately $241 million in outstanding secured mortgage loans, including the settlement of three cash flow hedges. Additionally, in August 2018, HTA modified its $200.0 million unsecured term loan, decreasing pricing at HTA’s current credit rating by 65 basis points and extending the maturity to 2024.
Balance Sheet: HTA ended 2018 with total liquidity of $1.1 billion, inclusive of $126.2 million of cash and cash equivalents, resulting in total leverage of (i) 31.3%, measured as debt less cash and cash equivalents to total capitalization, and (ii) 5.4x, measured as debt less cash and cash equivalents to Adjusted Earnings before Interest, Taxes, Depreciation and Amortization for real estate (“Adjusted EBITDAre”).



The following information was filed by Healthcare Trust Of America Holdings, Lp on Thursday, February 14, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Partners' Capital
Consolidated Statements Of Changes In Partners' Capital Consolidated Statements Of Changes In Partners' Capital (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Equity Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Operations
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Debt
Debt (Tables)
Debt - Amortization Of Deferred Financing Costs (Details)
Debt - Narrative (Details)
Debt - Principal Maturity Schedule (Details)
Debt - Schedule Of Debt (Details)
Derivative Financial Instruments And Hedging Activities
Derivative Financial Instruments And Hedging Activities (Tables)
Derivative Financial Instruments And Hedging Activities - Derivative Instruments Fair Value Table (Details)
Derivative Financial Instruments And Hedging Activities - Derivative Offsetting (Details)
Derivative Financial Instruments And Hedging Activities - Table Of Derivative Financial Instruments (Details)
Dispositions And Impairment
Dispositions And Impairment (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Assets And Liabilities At Fair Value On Recurring Basis (Details)
Future Minimum Rent (Details)
Future Minimum Rent (Notes)
Future Minimum Rent (Tables)
Intangible Assets And Liabilities
Intangible Assets And Liabilities (Tables)
Intangible Assets And Liabilities - Future Amortization Of Intangibles (Details)
Intangible Assets And Liabilities - Summary Of Intangible Amortization (Details)
Intangible Assets And Liabilities - Summary Of Intangible Assets And Liabilities (Details)
Investments In Real Estate
Investments In Real Estate (Tables)
Investments In Real Estate - Acquisitions (Details)
Investments In Real Estate - Purchase Price Allocation (Details)
Investments In Real Estate - Weighted Average Lives (Details)
Organization And Description Of Business
Organization And Description Of Business (Details)
Per Share Data Of Hta
Per Share Data Of Hta (Details)
Per Share Data Of Hta (Tables)
Per Unit Data Of Htalp
Per Unit Data Of Htalp (Details)
Per Unit Data Of Htalp (Tables)
Receivables And Other Assets
Receivables And Other Assets (Tables)
Receivables And Other Assets - Amortization (Details)
Receivables And Other Assets - Amortization Of Deferred Leasing And Financing Costs (Details) (Details)
Receivables And Other Assets - Schedule Of Receivables And Other Assets (Details)
Redeemable Nci
Redeemable Nci (Details)
Redeemable Nci (Tables)
Schedule Iii- Real Estate And Accumulated Depreciation (Notes)
Schedule Iii- Real Estate And Accumulated Depreciation Schedule Iii - Real Estate And Accumulated Depreciation - Real Estate Investments And Accumulated Depreciation (Details)
Schedule Iii- Real Estate And Accumulated Depreciation Schedule Iii - Real Estate And Accumulated Depreciation - Rollforward Of Accumulated Depreciation (Details)
Schedule Iii- Real Estate And Accumulated Depreciation Schedule Iii - Real Estate And Accumulated Depreciation - Rollforward Of Carrying Amount Of Real Estate Assets (Details)
Schedule Iv- Mortgage Loans On Real Estate Assets (Details)
Schedule Iv- Mortgage Loans On Real Estate Assets (Notes)
Selected Quarterly Financial Data Of Hta (Unaudited) (Details)
Selected Quarterly Financial Data Of Hta (Unaudited) (Notes)
Selected Quarterly Financial Data Of Hta (Unaudited) (Tables)
Selected Quarterly Financial Data Of Htalp (Unaudited) (Details)
Selected Quarterly Financial Data Of Htalp (Unaudited) (Notes)
Selected Quarterly Financial Data Of Htalp (Unaudited) (Tables)
Stockholders' Equity And Partners' Capital
Stockholders' Equity And Partners' Capital (Tables)
Stockholders' Equity And Partners' Capital - Narrative (Details)
Stockholders' Equity And Partners' Capital - Restricted Common Stock Activity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Tax Treatment Of Dividends Of Hta (Details)
Tax Treatment Of Dividends Of Hta (Notes)
Tax Treatment Of Dividends Of Hta (Tables)
CIK: 1495491
Form Type: 10-K Annual Report
Accession Number: 0001360604-19-000023
Submitted to the SEC: Tue Feb 19 2019 4:06:36 PM EST
Accepted by the SEC: Tue Feb 19 2019
Period: Monday, December 31, 2018
Industry: Real Estate Investment Trusts

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