Healthcare Realty Trust 8-K Healthcare Realty Trust Announces Fourth Quarter Results

Exhibit 99.2

SUPPLEMENTAL INFORMATION
Three Months Ended December 31, 2010
Dollars in thousands, except per share data
Furnished as of February 22, 2011
(Unaudited)

Copies of this report may be obtained at www.healthcarerealty.com or by contacting Gabrielle M. Andrés at 615.269.8471 or gandres@healthcarerealty.com.

In addition to the historical information contained within, the matters discussed in this report may contain forward-looking statements that involve estimates, assumptions, risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2010 under the heading “Risk Factors,” and as updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company’s judgment as of the date of this report. The Company disclaims any obligation to update these estimates, assumptions and other forward-looking material.

Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended December 31, 2010

Page 1 of 8

TABLE OF CONTENTS

Schedule 1 - Corporate Information	3
Schedule 2 - Consolidated Balance Sheets	4
Schedule 3 - Investment Progression	5
Schedule 4 - Investment by Type and Geographic Location	6
Schedule 5 - Development Properties	7
Schedule 6 - Lease Maturity Schedule	7
Schedule 7 - Square Feet Owned and/or Managed	8

Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended December 31, 2010

Page 2 of 8

(1) CORPORATE INFORMATION

A) Corporate Headquarters:

Healthcare Realty Trust Incorporated
Healthcare Realty Services Incorporated
3310 West End Avenue, Suite 700
Nashville, TN 37203
Phone: 615.269.8175
Fax: 615.269.8461
E-mail: communications@healthcarerealty.com

B) Stock Exchange, Symbol and CUSIP Number:

Security Description	Stock Exchange	Symbol	CUSIP Number
Common Stock	NYSE	HR	421946104
Senior Notes due 2011	OTC	HR	421946AF4
Senior Notes due 2014	OTC	HR	421946AF1
Senior Notes due 2017	OTC	HR	42225BAA44
Senior Notes due 2021	OTC	HR	421946AG9

C) Web Site:www.healthcarerealty.com

D) Executive Officers:

David R. Emery, Chairman of the Board and Chief Executive Officer
John M. Bryant, Jr., Executive Vice President and General Counsel
Scott W. Holmes, Executive Vice President and Chief Financial Officer
B. Douglas Whitman, II, Executive Vice President — Corporate Finance
Todd J. Meredith, Executive Vice President — Investments

E) Board of Directors:

David R. Emery, Chairman of the Board and Chief Executive Officer, Healthcare Realty Trust Incorporated
Errol L. Biggs, Ph.D., Director, Graduate Programs in Health Administration, University of Colorado
C. Raymond Fernandez, M.D., Retired Chief Executive Officer, Piedmont Clinic
Batey M. Gresham, Jr., A.I.A., Founder, Gresham Smith & Partners
Edwin B. Morris III, Managing Director, Morris & Morse Company, Inc.
J. Knox Singleton, President and Chief Executive Officer, Inova Health Systems
Bruce D. Sullivan, Retired Audit Partner, Ernst & Young LLP
Dan S. Wilford, Retired President and Chief Executive Officer, Memorial Hermann Healthcare System
Roger O. West, Former General Counsel, Healthcare Realty Trust Incorporated

F) Professional Services:

Independent Registered Public Accounting Firm
BDO USA, LLP
414 Union Street, Suite 1800
Nashville, TN 37219

Transfer Agent
Wells Fargo N.A.
Shareowner Services
161 North Concord Exchange
South St. Paul, MN 55075-1139

G) Dividend Reinvestment Plan:

Through the Company’s transfer agent, Wells Fargo, named shareholders of record can re-invest dividends in shares at a 5% discount and may also purchase up to $60 thousand of HR common stock per calendar year without a service or sales charge. For information, write Wells Fargo Shareowner Services, P.O. Box 64854, St. Paul, MN 55164-0856, or call 1.800.468.9716. Information may also be obtained at the transfer agent’s website, www.shareowneronline.com.

H) Direct Deposit of Dividends:

Direct deposit of dividends is offered as a convenience to shareholders of record. For information, write Wells Fargo Shareowner Services, P.O. Box 64854, St. Paul, MN 55164-0856, or call 1.800.468.9716. Information may also be obtained at the transfer agent’s website, www.shareowneronline.com.

I) Investor Relations:

Healthcare Realty Trust Incorporated
3310 West End Avenue, Suite 700
Nashville, TN 37203
Attention: Gabrielle M. Andrés
Phone: 615.269.8471
Fax: 615.983.8569
E-mail: gandres@healthcarerealty.com

Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended December 31, 2010

Page 3 of 8

(2) CONSOLIDATED BALANCE SHEETS

	December 31,			December 31,
	2010			2009
ASSETS
Real estate properties:
Land	$	163,020		$	135,495
Buildings, improvements, and lease intangibles		2,310,404			1,977,264
Personal property		17,919			17,509
Construction in progress		80,262			95,059
		2,571,605			2,225,327
Less accumulated depreciation		(484,641	)		(433,634	)
Total real estate properties, net		2,086,964			1,791,693
Cash and cash equivalents		113,321			5,851
Mortgage notes receivable		36,599			31,008
Assets held for sale and discontinued operations, net		23,915			17,745
Other assets, net		96,510			89,467
Total assets	$	2,357,309		$	1,935,764
LIABILITIES AND EQUITY
Liabilities:
Notes and bonds payable	$	1,407,855		$	1,046,422
Accounts payable and accrued liabilities		62,652			55,043
Liabilities of discontinued operations		423			251
Other liabilities		43,639			43,900
Total liabilities		1,514,569			1,145,616
Commitments and contingencies
Equity:
Preferred stock, $.01 par value; 50,000,000 shares authorized; none issued and outstanding		—			—
Common stock, $.01 par value; 150,000,000 shares authorized; 66,071,424 and 60,614,931 shares issued and outstanding at December 31, 2010 and December 31, 2009, respectively		661			606
Additional paid-in capital		1,641,379			1,520,893
Accumulated other comprehensive loss		(5,269	)		(4,593	)
Cumulative net income attributable to common stockholders		796,165			787,965
Cumulative dividends		(1,593,926	)		(1,518,105	)
Total stockholders’ equity		839,010			786,766
Noncontrolling interests		3,730			3,382
Total equity		842,740			790,148
Total liabilities and equity	$	2,357,309		$	1,935,764

Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended December 31, 2010

Page 4 of 8

(3) INVESTMENT PROGRESSION (1)

A) Construction in Progress

			Three					Twelve
	Number of		Months Ended		Number of			Months Ended
	Properties		December 31, 2010		Properties			December 31, 2010
Balance at beginning of period		3	$	58,070		2		$	95,059
Fundings on projects in existence at the beginning of the period		—		19,692		—			46,308
New projects started during the period		—		—		2			14,493
Completions		—		—		(1	)		(78,098	)
Land Held for Development Acquired (2)		—		2,500		—			2,500
Balance at end of period		3	$	80,262		3		$	80,262

B) Real Estate Properties

				Three						Twelve
	Number of			Months Ended			Number of			Months Ended
	Properties			December 31, 2010			Properties			December 31, 2010
Balance at beginning of period		199		$	2,339,148			197		$	2,130,268
Acquisitions (2)		5			156,528			14			308,887
Additions/Improvements		—			12,561			—			28,650
Completions (CIP)		—			—			1			78,098
Assets classified as held for sale during the period (3)		(6	)		(16,894	)		(11	)		(42,950	)
Dispositions		—			—			(3	)		(11,610	)
Balance at end of period		198		$	2,491,343			198		$	2,491,343

C) Mortgage Notes Receivable

				Three						Twelve
	Number of			Months Ended			Number of			Months Ended
	Investments			December 31, 2010			Investments			December 31, 2010
Balance at beginning of period		6		$	27,134			4		$	31,008
Fundings of new mortgages (4)		2			4,077			7			24,440
Fundings on mortgages in existence at the beginning of the period		—			7,191			—			—
Repayments (4)		(1	)		(1,871	)		(3	)		(9,075	)
Principal reduction due to acquisition		—			—			(1	)		(9,900	)
Scheduled principal payments		—			(2	)		—			(27	)
Amortization of loan origination fee		—			70			—			153
Balance at end of period		7		$	36,599			7		$	36,599

(1)	Balances exclude investments in unconsolidated joint ventures and assets classified as held for sale.
(2)	During the fourth quarter of 2010, the Company acquired three medical office buildings, two undeveloped parcels of land and a surgical facility in Texas and a medical office building in Colorado.
(3)	During the fourth quarter of 2010, the Company reclassified six skilled nursing properties in Michigan and Indiana to held for sale upon notification from the operator of its intent to exercise its option to purchase the properties. The Company expects the properties to be sold in the third quarter of 2011.
(4)	During the fourth quarter of 2010, the Company fully funded one mortgage note receivable and partially funded a construction mortgage note receivable, both of which are secured by medical office buildings in Iowa. Also, during the fourth quarter of 2010, one mortgage note receivable, secured by medical office buildings located in Texas, was repaid.

Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended December 31, 2010

Page 5 of 8

(4) INVESTMENT BY TYPE AND GEOGRAPHIC LOCATION (1)

	Medical			Physician			Specialty			Surgical			Inpatient
	Office			Clinics			Outpatient			Facilities			Rehab			Other			Development Properties (3)									% of
	(MOB)			(PC)			(SOP)			(SF)			(IRF) (2)			(OTH)			Stabilization			CIP			Total			Total
Master Leases
1 Alabama							$	2,698					$	17,721		$	9,493								$	29,912			1.1	%
2 Arizona														16,012												16,012			0.6	%
3 California				$	8,363												12,688									21,051			0.8	%
4 Florida	$	17,454			28,700									11,703												57,857			2.2	%
5 Georgia					2,683					$	3,133															5,816			0.2	%
6 Illinois		11,939									1,570															13,509			0.5	%
7 Iowa		24,200			1,866			2,154																		28,220			1.1	%
8 Indiana					21,597						43,406															65,003			2.5	%
9 Massachusetts					12,081																					12,081			0.5	%
10 Missouri											5,208															5,208			0.2	%
11 Pennsylvania														113,867												113,867			4.4	%
12 Tennessee																	7,874									7,874			0.3	%
13 Texas											17,314			19,336												36,650			1.4	%
14 Virginia		7,020			30,919												1,671									39,610			1.5	%
15 Washington		39,629																								39,629			1.5	%
Master Leases	$	100,242		$	106,209		$	4,852		$	70,631		$	178,639		$	31,726		$	—		$	—		$	492,299			18.8	%
	(4) Normalized same facility NOI growth for Master Leases (4Q2010 vs. 4Q2009):																												1.8	%
Operating Properties
1 Alabama		15,356			2,405																					17,761			0.7	%
2 Arizona		32,515			1,960														$	38,660						73,135			2.8	%
3 California		97,496									5,924															103,420			4.0	%
4 Colorado		49,344																		23,363		$	14,493			87,200			3.3	%
5 District of Columbia		31,842																								31,842			1.2	%
6 Florida		119,205			21,708																					140,913			5.4	%
7 Georgia		7,822																								7,822			0.3	%
8 Hawaii		24,772																		81,641						106,413			4.1	%
9 Illinois		24,008																		25,594						49,602			1.9	%
10 Indiana		77,914																								77,914			3.0	%
11 Iowa		59,421																								59,421			2.3	%
12 Kansas		13,996																								13,996			0.5	%
13 Louisiana		11,814																								11,814			0.4	%
14 Maryland		9,813																								9,813			0.4	%
15 Michigan		23,979																								23,979			0.9	%
16 Mississippi		8,379																								8,379			0.3	%
17 Missouri		37,550																								37,550			1.4	%
18 Nevada		8,082									3,801															11,883			0.4	%
19 North Carolina		142,964																								142,964			5.5	%
20 Ohio		14,500																								14,500			0.6	%
21 Oregon		20,577																								20,577			0.8	%
22 Pennsylvania		10,798																								10,798			0.4	%
23 South Carolina		10,953																								10,953			0.4	%
24 Tennessee		166,033																								166,033			6.4	%
25 Texas		505,441			19,942						117,499									84,575						727,457			27.9	%
26 Virginia								2,433									10,141									12,574			0.5	%
27 Washington		19,884																					44,997			64,881			2.5	%
Operating Properties	$	1,544,458		$	46,015		$	2,433		$	127,224		$	—		$	10,141		$	253,833		$	59,490		$	2,043,594			78.3	%
	(4) Normalized same facility NOI growth for Operating Properties (4Q2010 vs. 4Q2009):																												2.1	%
Land Held for Development																							20,772			20,772			0.8	%
Corporate Property																										14,940			0.6	%
Total Equity Investments	$	1,644,700		$	152,224		$	7,285		$	197,855		$	178,639		$	41,867		$	253,833		$	80,262		$	2,571,605			98.5	%
Average Age of Facility (years)		18			22			11			19			22			27									19
4Q 2010 Economic Occupancy (5)		86	%		83	%		100	%		88	%		95	%		80	%		23	%					82	%
4Q 2010 Stabilized Occupancy (5)		86	%		83	%		100	%		88	%		95	%		80	%								87	%
Mortgage Investments		10,934			14,920						10,745															36,599			1.4	%
Mortgage Investments	$	10,934		$	14,920		$	—		$	10,745		$	—		$	—		$	—		$	—		$	36,599			1.4	%
Unconsolidated Joint Ventures
Utah																	1,266									1,266			0.1	%
Joint Venture Investments	$	—		$	—		$	—		$	—		$	—		$	1,266		$	—		$	—		$	1,266			0.1	%
Total Investments	$	1,655,634		$	167,144		$	7,285		$	208,600		$	178,639		$	43,133		$	253,833		$	80,262		$	2,609,470			100.0	%
Percent of $ Invested		63.8	%		6.4	%		0.3	%		8.0	%		6.9	%		1.7	%		9.8	%		3.1	%		100.0	%
			��
Number of Investments		138			28			3			11			11			6			9			3			209

(1)	Excludes assets held for sale.
(2)	The Company’s inpatient rehabilitation facilities (IRF) have EBITDARM coverages of approximately 2.75 to 3.50 times.
(3)	Development properties are all MOBs. Properties in Stabilization generated an aggregate net operating loss of approximately $0.6 million for the three months ended December 31, 2010. The Properties in Stabilization are estimated to have a weighted average remaining lease-up period of eight quarters.
(4)	The ‘same facility’ portfolio includes those properties that were in operation for the full quarter and for the full corresponding quarter of the prior year. The normalized same facility NOI growth rate in the portfolio is not representative of the entire portfolio. “Normalized” means adjusted for items that would otherwise prohibit a meaningful comparison of NOI for the two periods. Approximately 85% of the Company’s owned real estate portfolio is included in the calculation of the ‘same facility’ NOI growth.
(5)	The economic and stabilized occupancies assume that properties under a Property Operating Agreement or Master Lease Agreement have 100% economic occupancy. The average underlying tenant occupancy of the eight properties under Property Operating Agreements was approximately 62%. The economic occupancy includes and the stabilized occupancy excludes the nine development properties currently in Stabilization. The properties in Stabilization are currently 31% leased. The difference between occupied and leased is that “occupied” refers to tenants currently occuppying the space and “leased” refers to tenants that have signed leases but have not taken occupancy due to finalizing the buildout of their suite.

Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended December 31, 2010

Page 6 of 8

(5) DEVELOPMENT PROPERTIES (1)

CONSTRUCTION IN PROGRESS

	Estimated							CIP at		Estimated		Estimated
	Completion		Property			Approximate		December 31,		Remaining		Total
State	Date		Type	Properties		Square Feet		2010		Fundings		Investment
Under construction:
Washington		3Q 2011	MOB		1		206,000	$	44,997	$	47,203	$	92,200
Colorado		3Q 2011	MOB		2		199,000		14,493		40,407		54,900
Land held for development:
Texas									20,772
					3		405,000	$	80,262	$	87,610	$	147,100

(1) Properties currently under construction are estimated to reach stabilized occupancy over a period of two to three years following completion.

STABILIZATION IN PROGRESS

			Date					Investment at		Estimated							Estimated
	Number of		Transferred		Property	Square		December 31,		Total		4Q 2010					Stabilization
State	Properties		from CIP		Type	Feet		2010		Investment		NOI			Leased		Date
Texas		1		1Q 2008	MOB		140,221	$	23,814	$	24,900	$	345			65%		2Q 2011
Colorado		2		3Q 2008	MOB		161,099		23,363		27,400		(266	)		43%		4Q 2011
Arizona		2		4Q 2008	MOB		179,963		38,660		42,700		(247	)		17%		1Q 2012
Texas		1		3Q 2009	MOB		129,879		32,540		33,000		48			38%		2Q 2012
Illinois		1		4Q 2009	MOB		95,436		25,594		26,400		(171	)		15%		3Q 2012
Texas		1		4Q 2009	MOB		116,838		28,221		29,300		(100	)		23%		4Q 2012
Hawaii		1		3Q 2010	MOB		127,268		81,641		86,000		(229	)		11%		4Q 2013
							950,704	$	253,833	$	269,700	$	(620	)

(6) LEASE MATURITY SCHEDULE (1)

	Annualized							Average
	Minimum		Number of		Percentage			Square Feet
	Rents (2)		Leases		of Revenues			Per Lease
2011	$	29,986		326		13.3	%		3,604
2012		29,675		294		13.2	%		4,133
2013		33,358		268		14.8	%		4,823
2014		35,395		287		15.7	%		5,144
2015		19,020		192		8.5	%		4,720
2016		11,272		61		5.0	%		7,129
2017		17,844		68		7.9	%		13,598
2018		11,567		78		5.1	%		7,412
2019		5,541		28		2.5	%		6,846
2020		7,937		30		3.5	%		12,061
Thereafter		23,475		56		10.5	%		17,394

(1)	Mortgage notes receivable, investment in unconsolidated joint ventures and assets classified as held for sale are excluded.
(2)	Represents the annualizedminimum rentson leases in-place, excluding the impact of potential lease renewals, future step-ups in rent, or sponsor support payments under financial support agreements and straight-line rent.

Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended December 31, 2010

Page 7 of 8

(7) SQUARE FEET OWNED AND/OR MANAGED (1)

A)By Geographic Location

	Number of Properties						Owned (2)										Third Party
			Third				Managed (3)				Development Properties				Not		Property
	Owned		Party		Total		Internal		Third Party		Stabilization (3)		CIP		Managed		Management		Total		Percent
1 Texas		51				51		2,931,740		458,339		386,938				181,526				3,958,543		29.1	%
2 Tennessee		15		5		20		1,242,564								75,000		251,394		1,568,958		11.5	%
3 Florida		22				22		714,092		33,628						324,131				1,071,851		7.9	%
4 North Carolina		14				14		724,291												724,291		5.3	%
5 California		10				10		458,955								93,000				551,955		4.2	%
6 Colorado		7				7		192,280				161,099		199,000						552,379		4.2	%
7 Indiana		5				5				382,695						175,999				558,694		4.1	%
8 Pennsylvania		7				7		63,914								437,601				501,515		3.7	%
9 Arizona		10		1		11		202,082				179,963				51,903		59,106		493,054		3.6	%
10 Virginia		8				8				136,427						339,777				476,204		3.5	%
11 Washington		5				5		73,548						206,000		159,071				438,619		3.2	%
12 Iowa		9				9				265,063						104,117				369,180		2.7	%
13 Illinois		4				4		142,955				95,436				115,100				353,491		2.6	%
14 Alabama		6				6		120,192								224,794				344,986		2.6	%
15 Hawaii		3				3		173,502				127,268								300,770		2.2	%
16 Michigan		3				3		199,749												199,749		1.5	%
17 Missouri		5				5		177,039								13,478				190,517		1.4	%
18 District of Columbia		2				2		182,836												182,836		1.2	%
19 Louisiana		2				2				136,155										136,155		1.0	%
20 Mississippi		1		1		2		58,036										40,192		98,228		0.7	%
21 Massachusetts		2				2										100,742				100,742		0.7	%
22 Georgia		3				3				58,030						20,749				78,779		0.6	%
23 Ohio		1				1				73,331										73,331		0.5	%
24 Kansas		1				1		70,908												70,908		0.5	%
25 Oregon		1				1		62,246												62,246		0.5	%
26 Maryland		1				1		58,903												58,903		0.4	%
27 Nevada		2				2		16,878		31,026										47,904		0.3	%
28 South Carolina		1				1		39,801												39,801		0.3	%
Total Properties / Square Feet		201		7		208		7,906,511		1,574,694		950,704		405,000		2,416,988		350,692		13,604,589		100.0	%

B)By Facility Type

	Owned																		Third Party
	Managed (3)						Stabilization			Construction			Not			Total			Property
	Internal			Third Party			in Progress (3)			in Progress			Managed			Owned			Management			Total			Percent
Medical Office		7,398,544			1,282,022			950,704			405,000			548,163			10,584,433			350,692			10,935,125			80.4	%
Physician Clinics		295,970												601,814			897,784						897,784			6.6	%
Inpatient Rehab														735,072			735,072						735,072			5.4	%
Surgical Facilities		211,997			156,245									225,592			593,834						593,834			4.4	%
Other					126,427									283,694			410,121						410,121			3.0	%
Specialty Outpatient					10,000									22,653			32,653						32,653			0.2	%
Total Square Feet		7,906,511			1,574,694			950,704			405,000			2,416,988			13,253,897			350,692			13,604,589			100.0	%
Percent of Total Square Footage		58.1	%		11.6	%		7.0	%		3.0	%		17.8	%		97.5	%		2.5	%		100.0	%
Total Number of Properties		121			22			9			3			46			201			7			208

C)By Occupancy

															% of Total
	Medical		Physician		Surgical		Specialty		Inpatient						Square
Occupants Greater than 1%	Office		Clinics		Facilities		Outpatient		Rehab		Other		Total		Feet
1 Baylor Health Care System		781,178		73,501		156,245								1,010,924		7.7	%
2 HealthSouth										695,286				695,286		5.2	%
3 Carolinas Healthcare System		565,612												565,612		4.3	%
4 HCA		107,129		235,600		20,938						16,400		380,067		2.9	%
5 Ascension Health Care System		200,169												200,169		1.5	%
6 OrthoIndy				58,474		117,525								175,999		1.3	%
All Other Occupants Less than 1%		8,930,345		530,209		299,126		32,653		39,786		393,721		10,225,840		77.1	%
Total Square Feet		10,584,433		897,784		593,834		32,653		735,072		410,121		13,253,897		100.0	%

(1)	Mortgage notes, investment in joint ventures and assets classified as held for sale are excluded.
(2)	Approximately 66% of the portfolio are located on or adjacent to a hospital campus.
(3)	The owned and managed portfolio, excluding third party managed properties, consists of 1,433 leases with an average of 3,995 square feet per lease.

Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended December 31, 2010

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