Healthcare Realty Trust Affirmed Its 2023 Dispositions Guidance Of $350M To $450M And Narrowed Its Expected Cap Rate Range To 6.5% To 7.0%
Portfolio Pulse from Benzinga Newsdesk
Healthcare Realty Trust has completed $209 million of asset sales since June 2023, bringing year-to-date dispositions to $318 million. The company affirmed its 2023 dispositions guidance of $350 to $450 million and narrowed its expected cap rate range to 6.5% to 7.0%. It expects to sell additional properties under contract for approximately $71 million by year-end and has properties totaling $239 million under letter of intent to sell with closings expected in Q4 2023 and Q1 2024. The proceeds from these sales are expected to fund development obligations and repay floating rate debt.
October 05, 2023 | 10:53 am
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POSITIVE IMPACT
Healthcare Realty Trust's asset sales and future dispositions are expected to enhance the company's growth profile and fund development obligations. The company's affirmation of its 2023 dispositions guidance and narrowing of its cap rate range may provide stability for investors.
The company's asset sales and future dispositions are expected to enhance its growth profile by increasing portfolio exposure to higher-growth, multi-tenant, on-campus medical outpatient buildings. This, along with the affirmation of its 2023 dispositions guidance and narrowing of its cap rate range, may provide stability for investors, potentially leading to a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100