Healthcare Realty Trust Incorporated (NYSE:HR) has appointed Peter A. Scott as its new President and Chief Executive Officer starting April 15, 2025. Scott, who previously served as the Chief Financial Officer of Healthpeak Properties, Inc., brings significant experience in the real estate and financial sectors to his new role.
During his tenure at Healthpeak Properties, Inc., Scott played a key role in several significant financial and strategic initiatives. These include a $5 billion strategic merger with Physicians Realty Trust, resulting in an outpatient medical real estate platform of 40 million square feet and achieving $50 million of year-one synergies, exceeding initial forecasts by $10 million. Additionally, he led the substantial restructuring of the platform through approximately $12 billion of non-core asset sales, with $9 billion reinvested into acquisitions focused on the outpatient medical and lab business segments. This restructuring led to a significant improvement in the balance sheet by reducing net debt to EBITDA by approximately two turns, resulting in upgrades from the three major credit rating agencies.
Before his role at Healthpeak Properties, Inc., Scott served as a Managing Director in the real estate investment banking group at Barclays, where he advised Healthpeak (then HCP) on its $4 billion spin-off of Quality Care Properties, including $1.85 billion of debt financing.
Healthcare Realty Trust is confident in Scott's ability to lead the company, citing his proven track record of leadership and success. The company looks forward to leveraging Scott's experience and strong industry relationships to further accelerate momentum and deliver value to all stakeholders.
Connie Moore, who has served as interim President and CEO of Healthcare Realty Trust since November 2024, will transition out of that role and continue to serve on the board.
Healthcare Realty Trust, a real estate investment trust that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses, has over 650 properties totaling over 38 million square feet concentrated in 15 growth markets.
The company's shareholders and the industry at large will be watching closely as Scott takes the helm at Healthcare Realty Trust, eager to see how his leadership will impact the company's growth and performance in the coming months and years. Following these announcements, the company's shares moved -4.2%, and are now trading at a price of $15.43. Check out the company's full 8-K submission here.
