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Healthcare Realty Trust Incorporated (HR)



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Upturn Advisory Summary
09/17/2025: HR (2-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $18
1 Year Target Price $18
1 | Strong Buy |
0 | Buy |
9 | Hold |
0 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -2.23% | Avg. Invested days 36 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 6.39B USD | Price to earnings Ratio - | 1Y Target Price 18 |
Price to earnings Ratio - | 1Y Target Price 18 | ||
Volume (30-day avg) 11 | Beta 0.77 | 52 Weeks Range 13.89 - 18.73 | Updated Date 09/17/2025 |
52 Weeks Range 13.89 - 18.73 | Updated Date 09/17/2025 | ||
Dividends yield (FY) 6.58% | Basic EPS (TTM) -1.17 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -32.94% | Operating Margin (TTM) 5.35% |
Management Effectiveness
Return on Assets (TTM) 0.26% | Return on Equity (TTM) -7.52% |
Valuation
Trailing PE - | Forward PE 10.83 | Enterprise Value 11200662360 | Price to Sales(TTM) 5.23 |
Enterprise Value 11200662360 | Price to Sales(TTM) 5.23 | ||
Enterprise Value to Revenue 9.31 | Enterprise Value to EBITDA 23.14 | Shares Outstanding 351606597 | Shares Floating 328632622 |
Shares Outstanding 351606597 | Shares Floating 328632622 | ||
Percent Insiders 0.97 | Percent Institutions 108.04 |
Upturn AI SWOT
Healthcare Realty Trust Incorporated

Company Overview
History and Background
Healthcare Realty Trust Incorporated was founded in 1993. It has grown to become a leading REIT specializing in owning, managing, and developing outpatient medical facilities.
Core Business Areas
- Medical Office Buildings (MOBs): Acquisition, ownership, and management of MOBs leased to healthcare providers. This is their primary revenue driver.
- Development and Redevelopment: Development of new medical office buildings and redevelopment of existing properties to meet tenant needs.
- Property Management Services: Provision of property management services for owned and third-party MOBs.
Leadership and Structure
The company is led by a Board of Directors and a senior management team headed by the CEO. The organizational structure is typical of a REIT, with departments focused on acquisitions, asset management, finance, and development.
Top Products and Market Share
Key Offerings
- Medical Office Buildings (MOBs): The company's core offering is leasing space in medical office buildings to physician practices, hospitals, and other healthcare providers. Market share is fragmented, but Healthcare Realty is among the largest players. Competitors include Physicians Realty Trust (DOC) and Universal Health Realty Income Trust (UHT). It generates the bulk of revenue. Data regarding precise revenue breakdown for their different revenue lines are difficult to identify specifically.
Market Dynamics
Industry Overview
The medical office building sector is driven by the aging population, increasing demand for outpatient services, and the shift toward value-based care. The industry is moderately fragmented with REITs, private investors, and hospital systems all owning properties.
Positioning
Healthcare Realty Trust is a leading REIT focused exclusively on MOBs. Its competitive advantages include a large, geographically diverse portfolio, strong tenant relationships, and expertise in property management and development.
Total Addressable Market (TAM)
The estimated TAM for US medical office buildings is in the hundreds of billions of dollars. Healthcare Realty is positioned to capture a substantial portion of this market.
Upturn SWOT Analysis
Strengths
- Large, diversified portfolio of MOBs
- Strong tenant relationships with leading healthcare providers
- Experienced management team
- Proven track record of acquisitions and development
- Geographic diversity
Weaknesses
- Reliance on the healthcare industry
- Interest rate sensitivity
- Tenant concentration risk in certain markets
- High debt levels relative to some peers
Opportunities
- Growing demand for outpatient medical services
- Acquisition of smaller MOB portfolios
- Development of new MOBs in underserved markets
- Expansion of property management services
- Strategic partnerships with hospital systems
Threats
- Changes in healthcare regulations
- Increased competition from other REITs and private investors
- Rising interest rates
- Economic downturn
- Decreased demand for physical office space due to telehealth
Competitors and Market Share
Key Competitors
- DOC
- UHT
- OHI
Competitive Landscape
Healthcare Realty competes with other REITs, private investors, and hospital systems for MOB acquisitions and tenants. Its competitive advantages include its scale, expertise, and strong tenant relationships. Market share data, while hard to find, suggests HR is negligibly larger than DOC. Both have rather small market shares, suggesting a competitive and fragmented landscape.
Major Acquisitions
Physicians Realty Trust (Merger)
- Year: 2024
- Acquisition Price (USD millions): Approximately $3.9 Billion
- Strategic Rationale: The merger with Physicians Realty Trust created the largest pure-play MOB REIT. The move was designed to improve scale and lower costs.
Growth Trajectory and Initiatives
Historical Growth: Healthcare Realty has grown through acquisitions, development, and organic growth in its existing portfolio.
Future Projections: Analysts project continued growth in revenues and earnings, driven by the factors outlined above. Acquisition activity is expected to remain a key driver of growth.
Recent Initiatives: Recent initiatives include strategic acquisitions, development projects, and investments in technology to improve property management efficiency.
Summary
Healthcare Realty is a leading REIT focused on medical office buildings, benefiting from the aging population and the shift to outpatient care. It boasts a strong portfolio and experienced management, but it is exposed to interest rate risk and healthcare regulatory changes. The recent merger with Physicians Realty Trust should strengthen its market position. The fragmented MOB market suggests continued opportunity, but also high competition.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC Filings (10-K, 10-Q)
- Company Investor Relations Materials
- Analyst Reports
- Industry Reports
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. Market share data is approximate and may vary depending on the source. Financial data is subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Healthcare Realty Trust Incorporated
Exchange NYSE | Headquaters Nashville, TN, United States | ||
IPO Launch date 1993-05-26 | President, CEO & Director Mr. Peter A. Scott | ||
Sector Real Estate | Industry REIT - Healthcare Facilities | Full time employees 550 | Website https://www.healthcarerealty.com |
Full time employees 550 | Website https://www.healthcarerealty.com |
Healthcare Realty (NYSE: HR) is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As of June 30, 2025, the Company was invested in 619 real estate properties in 32 states totaling 36.1 million square feet and had an enterprise value of approximately $10.5 billion, defined as equity market capitalization plus the principal amount of debt less cash.

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