Healthcare Trust, Inc. (HTI) has provided an overview of its performance for the fourth quarter and full year of 2023, showcasing significant growth and strategic initiatives. The company's gross asset value stands at $2.6 billion, with a portfolio primarily composed of Medical Office Buildings (MOB) and Senior Housing Operating Properties (SHOP).
In the MOB segment, HTI demonstrated strong leasing momentum with seven new leases totaling 16,496 SF and $0.4 million in SLR in Q4'23. This contributed to a forward Leasing Pipeline of 26,611 SF and a 0.5% increase in MOB portfolio occupancy to 91.1%. Additionally, the company completed 13 lease renewals totaling over 71,000 SF at a positive Lease Renewal Rental Spread of 11.1%.
The company's SHOP portfolio also exhibited resilience, with adjusted NOI increasing by 36.6% year-over-year to $30.6 million in 2023. HTI has strategically streamlined its SHOP portfolio to four operators, enhancing operational efficiency.
HTI's prudent debt capitalization is reflected in its net leverage of 43.7%, demonstrating a balanced capital structure and financial flexibility. The company's diligent acquisition program resulted in 11 closed transactions totaling $47.6 million, with a focus on high-quality assets and favorable cap rates.
The company's experienced management team, along with its strategic partnerships with leading healthcare brands, has contributed to its robust performance and growth trajectory.
HTI's strategic initiatives, including portfolio diversification, proactive leasing activity, and disciplined acquisition strategy, have collectively driven its strong financial performance and positioned the company for continued success in the healthcare real estate market. As a result of these announcements, the company's shares have moved 1.2% on the market, and are now trading at a price of $15.79. For the full picture, make sure to review Healthcare Trust's 8-K report.
