Last10K.com

Healthcare Trust Of America Holdings, Lp (1495491) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Healthcare Trust Of America Holdings, Lp

CIK: 1495491

Exhibit 99.1
bestinclasslogoa171.jpg
PRESS RELEASE
Financial Contact:
Robert A. Milligan
Chief Financial Officer
480.998.3478

HEALTHCARE TRUST OF AMERICA, INC. REPORTS FIRST QUARTER 2020 EARNINGS AND
PROVIDES UPDATE ON IMPACTS FROM THE COVID-19 PANDEMIC
Scottsdale, Arizona (May 5, 2020) - Healthcare Trust of America, Inc. (NYSE: HTA) (“HTA”) announced results for the three months ended March 31, 2020, provided an update on business operations stemming from the impacts of the ongoing coronavirus ("COVID-19") pandemic, and removed its 2020 earnings guidance.
First Quarter 2020 Highlights
Net income Attributable to Common Stockholders was $17.9 million, or $0.08 per diluted share, an increase of $0.02 per diluted share, compared to 2019.
Funds From Operations (“FFO”), as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), was $93.1 million, or $0.42 per diluted share, for Q1 2020.
Normalized FFO was $93.6 million, or $0.42 per diluted share, for Q1 2020, an increase of $0.02, or 5.0%, per diluted share, compared to 2019.
Normalized Funds Available for Distribution (“FAD”) was $77.4 million for Q1 2020.
Same-Property Cash Net Operating Income (“NOI”) increased $3.0 million, or 2.7%, to $115.4 million, compared to Q1 2019. This included same-property rental revenue growth of 1.5%.
Leasing: HTA’s portfolio had a leased rate of 90.8% by gross leasable area (“GLA”) and an occupancy rate of 89.9% by GLA for Q1 2020. During Q1 2020, HTA executed approximately 238 thousand square feet of new leases and 647 thousand square feet of renewal leases. Re-leasing spreads increased to 2.7% and tenant retention for the Same-Property portfolio was 85% by GLA for Q1 2020.
Balance Sheet and Capital Markets
Equity: During Q1 2020, HTA issued a total of $21.3 million in equity, comprised of approximately 0.6 million shares of common stock under its at-the-market (“ATM”) offering program on a forward basis at an average price per share of $33.28. During the quarter, HTA received net proceeds of $50.0 million on 1.7 million shares issued. As a result, we ended the quarter with a total of $277.5 million of equity to be settled on a forward basis with the issuance of approximately 9.4 million shares, subject to adjustment for costs to borrow under the terms of the applicable equity distribution agreements.
Balance Sheet: HTA ended Q1 2020 with total leverage of (i) 33.7%, measured as debt less cash and cash equivalents to total capitalization, and (ii) 5.6x net debt to Adjusted Earnings before Interest, Taxes, Depreciation and Amortization for real estate (“Adjusted EBITDAre”). Including the impact of the unsettled forward equity agreements, leverage would be 30.3% and 5.1x, respectively, using the definitions from above.
HTA ended Q1 with total liquidity of $1.1 billion, inclusive of $595.0 million available on our unsecured revolving credit facility, $277.5 million of unsettled forward equity agreements, and $216.5 million of cash and cash equivalents. HTA continues to have very limited near term debt maturities, with less than $7 million maturing before our revolving credit facility matures in June of 2022.
Post Quarter Activity: Following quarter end, we drew down the remaining $595 million on our credit facility, increasing our pro forma cash position to almost $800 million. We expect to continue to monitor the financial markets and will balance our cash position and revolving credit facility usage accordingly.
Noteworthy Q1 2020 Activities
Investments: In Q1 2020, HTA closed on approximately $41.5 million of investments totaling approximately 167,000 square feet of GLA. These properties were approximately 91% occupied as of closing, and are located within HTA's key markets.
We also invested approximately $12 million in our 5 in-process development and re-development projects. These developments are over 70% pre-leased to major health systems and have $133 million in remaining costs to complete.
Dividends: On May 5, 2020, HTA's Board of Directors announced a quarterly cash dividend of $0.315 per share of common stock and per OP Unit. This amount is unchanged from the prior announcement and will be paid on July 9, 2020 to stockholders of record of its common stock and holders of its OP Units on July 2, 2020.
Every quarter, the Company's dividend remains subject to the review and approval of HTA's Board of Directors. Beginning with the second quarter and going forward, HTA will separate the announcement of its dividend from its earnings release.


The following information was filed by Healthcare Trust Of America Holdings, Lp on Tuesday, May 5, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Healthcare Trust Of America Holdings, Lp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Healthcare Trust Of America Holdings, Lp.

Continue

Assess how Healthcare Trust Of America Holdings, Lp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Healthcare Trust Of America Holdings, Lp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Partners' Capital
Condensed Consolidated Statements Of Changes In Partners' Capital (Parenthetical)
Condensed Consolidated Statements Of Comprehensive (Loss) Income
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Equity (Parenthetical)
Condensed Consolidated Statements Of Operations
Commitments And Contingencies
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)
Dispositions And Impairment
Dispositions And Impairment (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Tables)
Intangible Assets And Liabilities
Intangible Assets And Liabilities (Tables)
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)
Leases
Leases (Tables)
Leases - Lease Revenues And Maturity Of Future Minimum Rents (Details)
Leases - Maturity Of Lease Liabilities (Details)
Leases - Narrative (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 - Schedule Of Receivables And Other Assets (Details)
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)
Subsequent Events
Subsequent Events (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)
CIK: 1495491
Form Type: 10-Q Quarterly Report
Accession Number: 0001360604-20-000049
Submitted to the SEC: Wed May 06 2020 4:36:15 PM EST
Accepted by the SEC: Wed May 06 2020
Period: Tuesday, March 31, 2020
Industry: Real Estate Investment Trusts

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1495491/0001360604-20-000049.htm