» Leading to expert’s analysis: Healthcare Trust of America, Inc. (NYSE: HTA)

On 16 March 2020, Healthcare Trust of America, Inc. (NYSE: HTA) changed -16.69% to recent value of $25.05. The stock transacted 3090842 shares during most recent day however it has an average volume of 1601.04K shares. It spotted trading -26.80% off 52-week high price. On the other end, the stock has been noted -5.15% away from the low price over the last 52-weeks.

Healthcare Trust of America, Inc. (HTA) reported results for the quarter and year ended December 31, 2019.

Fourth Quarter 2019:

Net income Attributable to Ordinary Stockholders was $8.9M, or $0.04 per diluted share, a decrease of $(0.03) per diluted share, contrast to 2018.
Funds from Operations (“FFO”), as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), was $87.3M, or $0.41 per diluted share, for Q4 2019.Because of the adoption of Topic 842, certain initial direct costs are now stated in general and administrative expenses. For Q4 2018, HTA capitalized about $1.2M of initial direct costs.
Normalized FFO was $88.9M, or $0.42 per diluted share, for Q4 2019, a raise of $0.02, or 5.0%, per diluted share, contrast to 2018.
Normalized Funds Accessible for Distribution (“FAD”) was $72.3M for Q4 2019.

Same-Property Cash Net Operating Income (“NOI”)increased $2.8M, or 2.5%, to $114.9M, contrast to Q4 2018. This included same-property rental revenue growth of 1.4%.
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 Q4 2019. During Q4 2019, HTA executed about 1.0M square feet of GLA of new and renewal leases. Re-leasing spreads increased to 3.4% and tenant retention for the Same-Property portfolio was 76% by GLA for Q4 2019.

Year Ended 2019:

Net Income Attributable to Ordinary Stockholders was $30.2M, or $0.14 per diluted share, a decrease of $(0.88) per diluted share, contrast to 2018.
FFO, as defined by NAREIT, was $319.7M, or $1.53 per diluted share, for 2019 and includes a $21.6M, or $(0.10) per diluted share, loss related to the extinguishment of debt. For 2018, HTA capitalized about $4.9M of initial direct costs.
Normalized FFO was $344.3M, or $1.64 per diluted share, for 2019, a raise of $0.02, or 1.2%, per diluted share, contrast to 2018.
Normalized FAD was $289.4M for 2019.
Same-Property Cash NOI increased $12.1M, or 2.7%, to $450.9M, contrast to 2018. This included same-property rental revenue growth of 2.3%.
Leasing:During the year ended December 31, 2019, HTA executed about 3.6M square feet of GLA of new and renewal leases, or over 14.6% of the total GLA of its portfolio. Re-leasing spreads increased to 3.5% and tenant retention for the Same-Property portfolio was 83% by GLA year-to-date.
Balance Sheet and Capital Markets

Balance Sheet: HTA ended Q4 2019 with total liquidity of $1.2B, inclusive of $900.0M accessible on our unsecured revolving credit facility, $306.2M of unsettled equity sold under forward contracts, and $32.7M of cash and cash equivalents. HTA also had total leverage of (i) 28.9%, measured as debt less cash and cash equivalents to total capitalization, and (ii) debt less cash and cash equivalents to Adjusted Earnings before Interest, Taxes, Depreciation and Amortization for real estate (“Adjusted EBITDAre“) of 5.7x. Including the impact of the remaining forward equity to be settled, leverage would be 25% and 5.0x, respectively, using the definitions from above.
Equity: During 2019, HTA issued a total of $637.6M in equity, comprised of about 21.6M shares of ordinary stock under its at-the-market (“ATM”) offering program on a forward basis at an average price of $29.59, of which, $584.9M comprised of 19.7M shares were issued in Q4 2019 at an average price of $29.68. During 2019, HTA received net proceeds of $323.4M on 11.1M shares that settled, of which net proceeds of $271.6M for 9.3M shares were attributable to Q4 2019 settlements. Accordingly, we have about 10.5M shares predictable to settle in 2020 for net proceeds of $306.2M, subject to adjustment for costs to borrow under the terms of the applicable equity distribution contracts.

Debt: In 2019, Healthcare Trust of America Holdings, LP (“HTALP”) and HTA completed two transactions:
Noteworthy 2019 Activities

Investments: In the quarter, HTA closed on $330M of investments totaling about 1.1M square feet of GLA. For the year, HTA has now closed $558M of investments totaling about 1.6M square feet of GLA, with predictable year-one contractual yields of about 6.1%, after operating synergies. These properties were about 93% occupied as of closing, and are located within HTA’s key markets. Over 55% of these properties are located on or adjacent to hospital campuses, and, all were purchased on a fee-simple basis.

Development/Redevelopment: As of December 31, 2019, HTA had the following development and redevelopment projects in place:

Dividends: On February 13, 2020, HTA’s Board of Directors reported a quarterly cash dividend of $0.315 per share of ordinary stock and per OP Unit. The quarterly dividend is to be paid on April 9, 2020 to stockholders of record of its ordinary stock and holders of its OP Units on April 2, 2020.
HTA has a gross margin of 69.40% and an operating margin of 18.00% while its profit margin remained 4.40% for the last 12 months. Its earnings per share (EPS) expected to touch remained -85.80% for this year. The company has 238.13M of outstanding shares and 215.72M shares were floated in the market. The price moved ahead of -22.74% from the mean of 20 days, -21.22% from mean of 50 days SMA and performed -15.35% from mean of 200 days price. Company’s performance for the week was -22.47%, -23.32% for month and YTD performance remained -17.27%.