Fri, Aug 2, 10:34 AM (88 days ago)
Healthcare Realty Trust Incorporated's Q2 2024 financials reveal a challenging quarter. The company reported a net loss of $145.9 million, a significant increase from the $83.7 million loss in Q2 2023. This was driven by a $250.5 million goodwill impairment and a $132.1 million impairment on real estate properties. Rental income declined by 6.5% to $308.1 million, primarily due to property dispositions and tenant bankruptcy. Property operating expenses decreased by 6.1% to $117.7 million, while general and administrative expenses fell by 9.5% to $14.0 million. Interest expense decreased slightly to $62.5 million. The company disposed of 25 properties, generating $464.9 million in sales. Cash flow from operations was $244.3 million, down from $254.3 million in H1 2023. The company repurchased 17.2 million shares, totaling $273.1 million. Despite these challenges, Healthcare Realty Trust remains focused on managing its portfolio and optimizing its capital structure.