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EXHIBIT 99.2
[HEALTHCARE REALTY TRUST LOGO]
NEWS RELEASE
Contact: Timothy G. Wallace, Executive Vice President and Chief
Financial Officer, (615) 269-8175
HEALTHCARE REALTY TRUST ANNOUNCES
FIRST QUARTER RESULTS
NASHVILLE, Tennessee April 26, 2001 -- Healthcare Realty Trust
Incorporated (NYSE:HR) today announced results for the first quarter ended March
31, 2001. Revenues for the first quarter totaled $48.2 million, compared with
the prior year's $48.3 million. Net income for the period was $20.6 million, or
$0.47 per diluted common share, versus $20.5 million, or $0.47 per diluted
common share, for the first quarter of 2000. Funds from operations, comprised
primarily of net income and depreciation from real estate, totaled $26.6 million
for the first quarter ended March 31, 2001, compared with $26.7 million for the
first quarter ended March 31, 2000. Funds from operations, per diluted common
share, for the first quarter was $0.66, compared with $0.65 for the previous
quarter and $0.67 for the first quarter of 2000.
Healthcare Realty Trust is a real estate investment trust that
integrates owning, managing and developing income-producing real estate
properties associated with the delivery of healthcare services throughout the
United States. The Company's portfolio is comprised of nine major facility
types, located in 32 states nationwide, and operated pursuant to contractual
arrangements with 68 healthcare providers. The Company has investments of
approximately $1.7 billion in 266 real estate properties or mortgages, totaling
almost twelve million square feet. The Company provides property management or
asset management services to approximately seven million square feet nationwide.
The Company directs interested parties to it's Internet page site,
www.healthcarerealty.com, where material information is posted regarding
this quarter's operations. Please contact the Company at (615) 269-8175 to
request a printed copy of this information. In addition to the historical
information contained within, the matters discussed in this press release
may contain forward-looking statements that involve risks and uncertainties.
These risks are discussed in a 10-K filed with the SEC by Healthcare
Realty Trust for the year ended December 31, 2000. Forward-looking statements
represent the Company's judgment as of the date of this release. The Company
disclaims any obligation to update forward-looking material.
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HR Reports First Quarter Results
Page 2
April 26, 2001
HEALTHCARE REALTY TRUST INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED
MARCH 31,
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2001 2000
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Revenues:
Master lease rental income $ 25,087 $ 24,017
Property operating income 16,450 15,178
Straight line rent 1,748 1,470
Mortgage interest income 4,539 6,353
Management fees 342 732
Interest and other income 63 509
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48,229 48,259
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Expenses:
General and administrative 2,035 2,154
Property operating expenses 6,191 5,464
Interest 9,785 10,526
Depreciation 10,112 9,545
Amortization 80 117
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28,203 27,806
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Net income before net gain (loss) on sale of real estate properties $ 20,026 $ 20,453
Net gain (loss) on sale of real estate properties 618 --
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Net income $ 20,644 $ 20,453
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Net income per common share - Basic $ 0.48 $ 0.48
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Net income per common share - Diluted $ 0.47 $ 0.47
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Funds from operations - Basic $ 26,566 $ 26,723
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Funds from operations - Diluted $ 26,637 $ 26,723
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Funds from operations per common share - Basic $ 0.67 $ 0.68
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Funds from operations per common share - Diluted $ 0.66 $ 0.67
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Weighted average common shares outstanding - Basic 39,628,676 39,439,719
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Weighted average common shares outstanding - Diluted 40,540,420 40,114,946
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Healthcare Realty Trust maintains a website: www.healthcarerealty.com
to provide general corporate, investor and financial information.
-END-
Except for the historical information contained within, the matters discussed
in this press release may contain forward-looking statements that involve
risks and uncertainties. These risks are fully disclosed in a 10K filed with
the SEC by Healthcare Realty Trust for the year ended December 31, 2000.
Forward-looking statements represent the Company's judgment as of the date
of this release. The Company disclaims any intent to update
forward-looking material.