Jay P. Leupp, a director at Healthcare Realty Trust Inc. (NYSE:HR), recently acquired 1,000 shares of the company's common stock. The $6.07 billion market cap healthcare REIT currently trades at $16.88 per share and offers a notable 7.43% dividend yield, having maintained dividend payments for 32 consecutive years. According to InvestingPro analysis, the company's financial health is rated as FAIR. The purchase, made on December 20, 2024, was executed at a price of $16.85 per share, totaling $16,850. Following this transaction, Leupp's direct ownership in the company increased to 33,830 shares. This transaction was documented in a Form 4 filing with the Securities and Exchange Commission. InvestingPro subscribers can access additional insights, including 7 more key ProTips and a comprehensive Pro Research Report, to better understand management's confidence in the company's future.
In other recent news, Healthcare Realty Trust has been experiencing significant changes. The company reported a steady 1.2% year-over-year growth in its third-quarter normalized Funds From Operations (FFO) per share, marking the fifth consecutive quarter of signing over 400,000 square feet of new leases. The same-store Net Operating Income (NOI) also grew by 3.1%. JPMorgan (NYSE:JPM) has downgraded the company's stock from Overweight to Neutral, setting a new price target of $19.00. This downgrade comes amidst the ongoing search for a new CEO, which could influence the company's future direction.
Healthcare Realty Trust's Board of Directors has launched a search for a permanent successor following Todd Meredith (NYSE:MDP)'s resignation as President and CEO. Constance "Connie" Moore has been appointed as interim President and CEO. Despite the challenges posed by the Steward bankruptcy, the company has secured new tenants to mitigate the annual NOI impact. The company also repurchased nearly $450 million in shares year-to-date, targeting high long-term risk-adjusted returns. These recent developments indicate that Healthcare Realty Trust is demonstrating resilience and taking a strategic approach to growth and capital allocation.
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