Healthcare Trust Inc.
Healthcare Trust, Inc. (“HTI” or “the Company”) is a non-traded real estate investment trust which seeks to acquire a diversified portfolio of real estate properties, focusing primarily on healthcare-related assets including medical office buildings, seniors housing and other healthcare-related facilities. Effective April 1, 2017, the Company will reduce its annual distribution per share from $1.70 to $1.45. The Company has reported a new estimated share value equal to $21.45, as of December 31, 2016. The board has completed its review of strategic alternatives available to the Company to maximize shareholder value. In connection therewith, the board has concluded that the appropriate course of action at this time is to execute the Company's business plan and focus on managing and strengthening the Company's portfolio of assets, including potentially by narrowing the range of properties owned and operated, and continuing to address assets that are underperforming the Company's expectations.
REIT Name: Healthcare Trust Inc.
IPO Date: February 2013
Total Equity Raised: $2.0 billion
Property Focus: Healthcare
Total Properties: 163
Advisor: Healthcare Advisors LLC
Share Redemption Plan: Yes
Balance Sheet (as of 12/31/16) (in thousands except share data)
Total Assets $2,193,705
Total Liabilities $689,379
Shareholders' Equity $1,495,456
Shares Outstanding 89,368,899
Operating Data (01/01/16 through 12/31/16)
Total Revenues $302,566
Total Expenses $327 ,084
Net Income (Loss) $(20,874)
Net Income (Loss) Per Share $(0.24)
Cash Provided by Operations $79,410
Dividends Declared $149 ,416
Dividends Per Share $1.70
Funds From Operations (FPO) $75,733
FPO Per Share $0.862
Began IPO in February 2013. This offering closed in November 2014 upon becoming fully subscribed with gross offering proceeds of approximately $2.0 billion. As of December 31, 2016, has acquired and owns 163 properties. These properties have a total cost of approximately $2.34 billion and include 8.4 million rentable square feet. Portfolio includes 80 medical office bldgs, 58 senior housing facilities, 18 post-acute care facilities, four hospitals, two land parcels and one development property in 29 states. A total of 42 properties containing 1. 85 million rentable square feet are triplenet-leased. Total borrowings were 28% of total assets at December 31. FPO per share for 2016 was $0.862, down 6% from $0.916 for 2015. Dividends-to-FPO ratio for 2016 was 197%, up from 186% for 2016. MFPO per share for 2016 was $0.859, down 9% from $0.949 for 2015. Dividends-to-MFPO ratio for 2016 was 198%. Approximately 6.4%, 6.7% and 6.3% of leases expire in 2017, 2018 and 2019, respectively, based on annualized rents. Share repurchases for 2016 were delayed until March 2017 while company considered strategic review of alternatives to maximize shareholder value which resulted in no action taken. Company plans to expand portfolio through borrowings such that leverage is roughly 40% on a debt to total asset basis. Effective April 1, 2017, company reduced annual distribution rate from $1.70 to $1.45 per share.
Data referenced from the Direct Investments Spectrum