Last10K.com

Healthcare Trust Of America Holdings, Lp (1495491) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Healthcare Trust Of America Holdings, Lp

CIK: 1495491

Exhibit 99.1
bestinclasslogoa1711.jpg
PRESS RELEASE
Financial Contact:
Robert A. Milligan
Chief Financial Officer
480.998.3478

HEALTHCARE TRUST OF AMERICA, INC. REPORTS SECOND QUARTER 2020 EARNINGS AND
PROVIDES UPDATE ON IMPACTS FROM THE COVID-19 PANDEMIC
Scottsdale, Arizona (August 6, 2020) - Healthcare Trust of America, Inc. (NYSE: HTA) (“HTA”) announced results for the three and six months ended June 30, 2020 and provided an update on business operations stemming from the impacts of the ongoing coronavirus ("COVID-19") pandemic.
Highlights
Second Quarter 2020:
Net Income Attributable to Common Stockholders was $13.5 million, or $0.06 per diluted share for Q2 2020, a decrease of $2.8 million, or $0.02 per diluted share, compared to Q2 2019.
Funds From Operations (“FFO”), as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), was $87.8 million, or $0.40 per diluted share, for Q2 2020, an increase of $3.2 million, and flat on a per diluted share basis compared to Q2 2019.
Normalized FFO (“NFFO”) was $93.0 million, or $0.42 per diluted share, for Q2 2020, an increase of $7.8 million and $0.01, or 2.4%, per diluted share, compared to Q2 2019. This excludes $5.0 million of normalizing adjustments consisting primarily of a $4.7 million write off of prior-year accounts receivable in litigation that are more fully described herein.
Normalized Funds Available for Distribution (“FAD”) was $77.5 million for Q2 2020.
Same-Property Cash Net Operating Income (“NOI”) increased $0.7 million, or 0.6%, to $115.0 million, compared to Q2 2019. In addition to our ordinary operations, our same-property cash NOI in the period was negatively impacted by $1.2 million in additional free rent associated with early renewals and a $951 thousand increase in our bad debt reserves primarily related to ongoing tenants. Excluding these two impacts, our same-property cash NOI growth for the period would have been 2.5%.
Leasing: HTA’s portfolio had a leased rate of 90.4% by gross leasable area (“GLA”) and an occupancy rate of 89.7% by GLA for Q2 2020. During Q2 2020, HTA executed approximately 1.3 million square feet of leases, including 139 thousand square feet of new leases and 1.2 million square feet of renewals. Re-leasing spreads increased to 4.6% and tenant retention for the Same-Property portfolio was 89% by GLA for Q2 2020.
Year-to-date 2020:
Net Income Attributable to Common Stockholders was $31.4 million, or $0.14 per diluted share, an increase of $1.7 million, and flat on a per diluted share basis compared to 2019.
FFO, as defined by NAREIT, was $180.9 million, or $0.82 per diluted share, for 2020, an increase of $13.5 million, and $0.02, or 2.5%, per diluted share compared to 2019.
NFFO was $186.6 million, or $0.84 per diluted share, for 2020, an increase of $18.3 million, and $0.03, or 3.7% per diluted share, compared to 2019. This excludes $5.0 million of normalizing adjustments consisting primarily of a $4.7 million write off of prior-year accounts receivable in litigation that are more fully described herein.
Normalized FAD was $154.9 million for 2020.
Same-Property Cash NOI increased $3.7 million, or 1.6%, to $230.1 million, compared to 2019. This included same-property rental revenue growth of 0.7%. In addition to our ordinary operations, our same-property cash NOI in the period was negatively impacted by $1.2 million in additional free rent associated with early renewals and a $951 thousand increase in our bad debt reserves primarily related to ongoing tenants. Excluding these two impacts, our same-property cash NOI growth for the period would have been 2.6%.
Leasing: During the six months ended June 30, 2020, HTA executed approximately 377 thousand square feet of new leases and 1.8 million square feet of renewal leases. Re-leasing spreads increased to 4.0% and tenant retention for the Same-Property portfolio was 88% by GLA year-to-date.

Balance Sheet and Capital Markets
Equity: HTA ended the quarter with $277.5 million of equity to be settled on a forward basis with the issuance of approximately 9.4 million shares of common stock, subject to adjustment for costs to borrow under the terms of the applicable equity distribution agreements.
Balance Sheet: HTA ended Q2 2020 with total leverage of (i) 31.8%, measured as debt less cash and cash equivalents to total capitalization, and (ii) 5.7x net debt to Adjusted Earnings before Interest, Taxes, Depreciation and Amortization for real estate


The following information was filed by Healthcare Trust Of America Holdings, Lp on Thursday, August 6, 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)
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: 0001360604-20-000085
Submitted to the SEC: Fri Aug 07 2020 7:29:06 PM EST
Accepted by the SEC: Mon Aug 10 2020
Period: Tuesday, June 30, 2020
Industry: Real Estate Investment Trusts

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1495491/0001360604-20-000085.htm