Healthcare Realty Trust Incorporated (NYSE:HR) Q2 2023 Results Conference Call August 8, 2023 12:00 PM ET

Company Participants

Ron Hubbard - VP, IR

Todd Meredith - President and CEO

Kris Douglas - EVP and CFO

Rob Hull - EVP, Investments

Conference Call Participants

Austin Wurschmidt - KeyBanc Capital Markets

Michael Griffin - Citi

Juan Sanabria - BMO Capital Markets

Steven Valiquette - Barclays

Mike Mueller - JP Morgan

John Pawlowski - Green Street

Operator

Good morning or good afternoon, and welcome to the Healthcare Realty Trust Second Quarter Earnings Conference Call. My name is Adam and I’ll be your operator for today. [Operator Instructions]

I will now hand the call over to VP of Investor Relations, Ron Hubbard, to begin. So, Ron, please go ahead when you are ready.

Ron Hubbard

Thanks Adam. Thank you for joining us today for Healthcare Realty’s second quarter 2023 earnings conference call. Joining me on the call today are Todd Meredith, Kris Douglas, and Rob Hull.

A reminder that except for the historical information contained within, the matters discussed in this call may contain forward-looking statements that involve estimates, assumptions, risks and uncertainties. These risks are more specifically discussed in the Company’s Form 10-K filed with the SEC for the year ended December 31, 2022, and the Form 10-K filed with the SEC for the quarter ended June 30, 2023.

These forward-looking statements represent the Company’s judgment as of the date of this call. The Company disclaims any obligation to update this forward-looking material. The matters discussed in this call may also contain certain non-GAAP financial measures such as funds from operations or FFO, normalized FFO, FFO per share, normalized FFO per share, funds available for distribution, or FAD, net operating income, NOI, EBITDA and adjusted EBITDA. A reconciliation of these measures to the most comparable GAAP financial measures may be found in the Company’s earnings press release for the quarter ended June 30, 2023.

The Company’s earnings press release, supplemental information and Form 10-Q are available on the Company’s website.

I’ll now turn the call over to Todd.

Todd Meredith

Thank you, Ron, and thank you, everyone, for joining us this morning for our second quarter 2023 earnings call.

Healthcare Realty generated steady second quarter operating results. Despite a volatile macro environment, we remain extremely bullish on our ability to capture operational upside from our portfolio. We saw record new leasing activity in the quarter. Robust tours and executed leases are early indicators of the occupancy gains and momentum we expect to see later this year and moving into 2024.