1
EXHIBIT 99.3
[HEALTHCARE REALTY TRUST LOGO]
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA, UNLESS OTHERWISE DISCLOSED
UPDATED AS OF APRIL 26, 2001
1) RECONCILIATION OF FUNDS FROM OPERATIONS(1)
(Unaudited)
FOR THE THREE MONTHS
ENDED MAR. 31,
-----------------------------------
2001 2000
-----------------------------------
NET INCOME BEFORE NET GAIN (LOSS) ON SALE OF REAL ESTATE PROPERTIES $ 20,026 $ 20,453
ELIMINATION OF THE RECOGNITION OF RENTAL REVENUES
ON A STRAIGHT LINE BASIS (2) (1,748) (1,470)
PREFERRED STOCK DIVIDEND (1,664) (1,664)
REAL ESTATE DEPRECIATION 9,952 9,404
-----------------------------------
TOTAL ADJUSTMENTS 6,540 6,270
-----------------------------------
FUNDS FROM OPERATIONS - BASIC $ 26,566 26,723
===================================
CONVERTIBLE SUBORDINATED DEBENTURE INTEREST 71 0
===================================
FUNDS FROM OPERATIONS - DILUTED $ 26,637 $ 26,723
===================================
FUNDS FROM OPERATIONS PER COMMON SHARE - BASIC $ 0.67 $ 0.68
===================================
FUNDS FROM OPERATIONS PER COMMON SHARE - DILUTED $ 0.66 $ 0.67
===================================
COMMON SHARES OUTSTANDING - BASIC 39,628,676 39,439,719
===================================
COMMON SHARES OUTSTANDING - DILUTED 40,540,420 40,114,946
===================================
(1) Funds From Operations ("FFO") does not represent cash generated from
operating activities in accordance with generally accepted accounting
principles, is not necessarily indicative of cash available to fund
cash needs and should not be considered as an alternative to net income
as an indicator of the Company's operating performance or as an
alternative to cash flow as a measure of liquidity.
Management believes the Company's FFO is not directly comparable to
other healthcare REIT's, which own a portfolio of triple net leased
properties or mortgages, as the Company develops projects through a
development and lease-up phase before they reach their targeted cash
flow returns. Furthermore, the Company eliminates, in consolidation,
fee income for developing, leasing and managing owned properties and
expenses or capitalizes, whichever the case may be, related internal
costs.
(2) The Company calculates its FFO using a modified version of National
Association of Real Estate Investment Trust's ("NAREIT") October 1999
definition of funds from operations. The Company eliminates
straight-line rental revenue in computing FFO although NAREIT's
definition of funds from operations requires the inclusion of
straight-line rental revenue. If the Company had followed the NAREIT
definition of funds from operations, as other healthcare REITs do, FFO
on a diluted basis would have been $.70 per common share for the three
months ended Mar. 31, 2001.
Quarterly Supplemental Data Report is also available on the Company's
website -- www.healthcarerealty.com
Bethany A. Anderson (615) 269-8175
Email: BAnderson@healthcarerealty.com
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 1 OF 13
2
2) CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (1)
ASSETS Mar. 31, 2001 Dec. 31, 2000
-------------- -------------
Real estate properties:
Land $ 151,972 $ 152,254
Buildings and improvements 1,292,034 1,290,395
Personal property 6,133 5,785
Construction in progress 36,629 30,914
----------- -----------
1,486,768 1,479,348
Less accumulated depreciation (130,089) (120,522)
----------- -----------
Total real estate properties, net 1,356,679 1,358,826
Cash and cash equivalents 313 1,788
Restricted cash 674 577
Mortgage notes receivable 170,449 170,906
Other assets, net 61,258 54,979
----------- -----------
Total assets $ 1,589,373 $ 1,587,076
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Notes and bonds payable $ 548,948 $ 536,781
Accounts payable and accrued liabilities 16,265 22,714
Other liabilities 19,609 19,544
----------- -----------
Total liabilities 584,822 579,039
----------- -----------
Commitments and contingencies -- --
Stockholders' equity:
Preferred stock, $.01 par value; 50,000,000 shares authorized;
issued and outstanding, 2001 and 2000 -- 3,000,000 30 30
Common stock, $.01 par value; 150,000,000 shares authorized;
issued and outstanding, 2001-- 40,557,368; 2000 -- 40,314,399 405 403
Additional paid-in capital 1,066,433 1,061,190
Deferred compensation (14,329) (9,730)
Cumulative net income 315,818 295,174
Cumulative dividends (363,806) (339,030)
----------- -----------
Total stockholders' equity 1,004,551 1,008,037
----------- -----------
Total liabilities and stockholders' equity $ 1,589,373 $ 1,587,076
=========== ===========
(1) The balance sheet at December 31, 2000 has been derived from audited
financial statements at that date but does not include all of the information
and footnotes required by generally accepted accounting principles for complete
financial statements.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 2 OF 13
3
3) CONDENSED CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE MONTHS
ENDED MAR. 31,
--------------------------------
2001 2000
--------------------------------
(Unaudited) (Unaudited)
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
--------------------------------
48,229 48,259
--------------------------------
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
--------------------------------
28,203 27,806
--------------------------------
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 --
--------------------------------
NET INCOME $ 20,644 $ 20,453
================================
NET INCOME PER COMMON SHARE - BASIC $ 0.48 $ 0.48
================================
NET INCOME PER COMMON SHARE - DILUTED $ 0.47 $ 0.47
================================
COMMON SHARES OUTSTANDING - BASIC 39,628,676 39,439,719
================================
COMMON SHARES OUTSTANDING - DILUTED 40,540,420 40,114,946
================================
NOTE> The income statements do not include all of the information and footnotes
required by generally accepted accounting principles for complete financial
statements.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 3 OF 13
4
4) INVESTMENT PROGRESSION
A) CONSTRUCTION IN PROGRESS
FOR THE
THREE
NUMBER OF MONTHS ENDED
PROPERTIES 03/31/01
-------------------------------
Balance at beginning of period 7 $30,914
Fundings on projects in existence at
the beginning of the period -- 5,715
New Projects started during the period 0 0
Completions 0 0
-------------------------------
Balance at end of period 7 $36,629
===============================
B) REAL ESTATE PROPERTIES
FOR THE
THREE
NUMBER OF MONTHS ENDED
PROPERTIES 03/31/01
--------------------------------
Balance at beginning of period 206 $1,448,434
Acquisitions 0 0
Additions/Improvements -- 3,745
Completions (CIP) 0 0
Sales (1) (2,040)
--------------------------------
Balance at end of period 205 $1,450,139
================================
C) MORTGAGE NOTES RECEIVABLE
FOR THE
THREE
NUMBER OF MONTHS ENDED
PROPERTIES 03/31/01
-------------------------------
Balance at beginning of period 54 $170,906
Funding of Mortgage Commitments 0 0
Prepayments 0 0
Purchase Price Adjustment Amortization -- (158)
Scheduled Principal Payments -- (299)
-------------------------------
Balance at end of period 54 $170,449
===============================
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 4 OF 13
5
5) INVESTMENT BY TYPE AND GEOGRAPHIC LOCATION
OUTPATIENT FACILITIES INPATIENT FACILITIES
----------------------------------------------------- --------------------------------------
Ancillary Comp. Other Assisted Skilled Inpatient Other
Hospital Ambulatory Medical Outpatient Living Nursing Rehab Inpatient % of
Facili- Physician Care Office Facili- Facili- Facili- Facili- Facili- Total Total
ties Clinics Centers Buildings ties(1) ties ties ties ties(2)
---------------------------------------------------------------------------------------------------------------
PROPERTY OPERATING/OTHER AGREEMENTS
1 Arizona 3,534 11,256 14,790 0.89%
2 California 50,967 28,752 79,719 4.81%
3 Florida 35,073 46,578 7,882 89,533 5.40%
4 Georgia 17,972 17,972 1.08%
5 Kansas 10,888 10,888 0.66%
6 Mississippi 453 4,290 4,743 0.29%
7 Missouri 5,351 9,942 15,293 0.92%
8 Nevada 43,538 43,538 2.63%
9 Pennsylvania 4,935 4,372 702 2,889 12,898 0.78%
10 Tennessee 23,972 8,401 10,734 43,107 2.60%
11 Texas 24,325 8,675 33,000 1.99%
12 Virginia 40,968 3,814 12,219 57,001 3.44%
13 Wyoming 12,915 2,180 15,095 0.91%
----------------------------------------------------------------------------------------------------------------
TOTAL
P.O.A.S/OTHER 269,540 21,938 96,528 42,392 4,290 0 0 0 2,889 437,577 26.40%
----------------------------------------------------------------------------------------------------------------
MASTER LEASES
1 Alabama 42,964 8,368 11,430 4,275 17,722 84,759 5.11%
2 Arizona 5,274 2,874 8,148 0.49%
3 Arkansas 2,989 2,989 0.18%
4 California 28,934 8,094 1,046 6,908 12,688 57,670 3.48%
5 Colorado 4,967 21,441 26,408 1.59%
6 Connecticut 11,925 11,925 0.72%
7 Florida 34,518 55,359 9,558 1,417 9,481 22,776 10,206 11,703 155,018 9.35%
8 Georgia 5,299 1,561 9,860 16,720 1.01%
9 Illinois 11,680 1,453 8,167 21,300 1.29%
10 Indiana 3,640 3,640 0.22%
11 Kansas 7,593 7,593 0.46%
12 Massachusetts 30,786 30,786 1.86%
13 Michigan 12,715 13,558 26,273 1.59%
14 Mississippi 9,768 9,768 0.59%
15 Missouri 16,015 4,470 6,114 10,897 37,496 2.26%
16 Nevada 6,882 3,800 10,682 0.64%
17 New Jersey 18,634 18,634 1.12%
18 North Carolina 3,819 6,176 9,995 0.60%
19 Ohio 4,393 4,393 0.27%
20 Oklahoma 12,966 12,966 0.78%
21 Pennsylvania 30,396 20,617 112,248 163,261 9.85%
22 South Carolina 3,005 3,005 0.18%
23 Tennessee 3,139 2,555 7,329 8,335 21,358 1.29%
24 Texas 44,877 16,938 21,737 1,977 70,999 19,466 12,916 5,892 194,802 11.75%
25 Virginia 40,761 1,941 2,119 17,019 36,410 98,250 5.93%
26 Wyoming 6,838 6,838 0.41%
----------------------------------------------------------------------------------------------------------------
TOTAL MASTER
LEASES 207,349 139,079 47,310 5,335 38,349 247,192 186,024 154,589 19,450 1,044,677 63.04%
----------------------------------------------------------------------------------------------------------------
Corporate
Property 4,514 4,514 0.27%
----------------------------------------------------------------------------------------------------------------
TOTAL EQUITY
INVESTMENTS $476,889 $161,017 $143,838 $47,727 $42,639 $247,192 $186,024 $154,589 $26,853 $1,486,768 89.71%
================================================================================================================
MORTGAGES
1 Alabama 4,634 7,922 12,556 0.76%
2 Arizona 10,737 17,623 28,360 1.71%
3 California 21,526 6,038 7,860 35,424 2.14%
4 Florida 9,455 11,951 607 22,013 1.33%
5 Georgia 1,128 1,128 0.07%
6 Idaho 4,890 4,890 0.30%
7 Maryland 14,999 14,999 0.91%
8 Massachusetts 2,225 2,225 0.13%
9 Michigan 11,017 11,017 0.66%
10 Mississippi 1,330 1,330 0.08%
11 Montana 2,055 2,055 0.12%
12 New Mexico 754 754 0.05%
13 North Carolina 2,470 2,470 0.15%
14 Ohio 1,593 597 2,190 0.13%
15 Oregon 2,908 2,908 0.18%
16 Pennsylvania 1,000 1,000 0.06%
17 South Carolina 3,067 3,067 0.19%
18 Tennessee 1,922 11,672 13,594 0.82%
19 Texas 182 1,857 2,447 4,486 0.27%
20 Virginia 2,212 2,212 0.13%
21 Washington 1,771 1,771 0.11%
----------------------------------------------------------------------------------------------------------------
TOTAL MTG.
INVESTMENTS $ -- $ 9,637 $ -- $ -- $ -- $ 75,593$ 57,289 $ -- $27,930 $ 170,449 10.29%
----------------------------------------------------------------------------------------------------------------
TOTAL
INVESTMENTS $476,889 $170,654 $143,838 $47,727 $42,639 $322,785 $243,313 $154,589 $54,783 $1,657,217 100.00%
================================================================================================================
PERCENT OF
$ INVESTED 28.776% 10.298% 8.679% 2.880% 2.573% 19.478% 14.682% 9.328% 3.306% 100.000%
========================================================================================================
NUMBER OF
PROPERTIES 59 34 13 10 12 74 49 9 6 266
========================================================================================================
NUMBER OF BEDS 6,110 5,461 759 366 12,696
==============================================
(1) 3 facility types <2% each.
(2) 4 facility types <2% each.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 5 OF 13
6
6) INVESTMENT BY OPERATOR/SIGNIFICANT TENANT
Number (1)
of Real Real Number of Total (1)
Estate Estate Mortgage Mortgage Number of Total
Properties Investment Properties Investment Properties Investment Commitments Total Percent.
---------------------- --------------------- ----------------------------------------------------
PUBLIC OR INVESTMENT GRADE OPERATORS/SIGNIFICANT TENANTS
1 Healthsouth 30 298,066 0 30 298,066 583 298,649 17.56%
2 HCA - The Healthcare Company 29 228,983 0 29 228,983 2,130 231,113 13.59%
3 Tenet 13 102,903 1 7,860 14 110,763 110,763 6.51%
4 Balanced Care 14 63,575 0 14 63,575 63,575 3.74%
5 Integrated Health 3 36,327 0 3 36,327 36,327 2.14%
6 Baptist Memorial Hospital 3 13,766 0 3 13,766 20,130 33,896 1.99%
7 Caremark Rx 6 32,561 0 6 32,561 32,561 1.92%
8 Emeritus 4 28,283 0 4 28,283 28,283 1.66%
9 Methodist 4 25,960 0 4 25,960 25,960 1.53%
10 Ephrata Community Hospital 3 10,008 0 3 10,008 13,850 23,858 1.40%
11 Quorum 4 24,159 0 4 24,159 24,159 1.42%
12 Ramsay 2 19,450 0 2 19,450 19,450 1.14%
13 United Medical Center 1 15,095 0 1 15,095 4,420 19,515 1.15%
14 KS Management Services 1 16,938 0 1 16,938 16,938 1.00%
15-26 12 Operators With Less
than 1% Each 16 104,694 1 7,188 17 111,882 2,031 113,913 6.70%
---------------- ------------------- -------------------------------------------------
133 1,020,768 2 15,048 135 1,035,816 43,144 1,078,960 63.45%
---------------- ------------------- -------------------------------------------------
OTHER OPERATORS/SIGNIFICANT TENANTS
27 Life Care Centers 12 82,822 2 9,433 14 92,255 92,255 5.43%
28 Senior Lifestyles 10 75,768 0 10 75,768 75,768 4.46%
29 Summerville 5 51,570 0 5 51,570 51,570 3.03%
30 Lewis-Gale Clinic, LLC 10 44,948 0 10 44,948 44,948 2.64%
31 Kerlan Jobe Orthopedic 1 28,752 0 1 28,752 28,752 1.69%
32 Melbourne Internal Medicine 4 27,935 0 4 27,935 27,935 1.64%
33 Centennial 6 16,355 1 9,414 7 25,769 25,769 1.52%
34 Multi-tenant 4 24,049 0 4 24,049 24,049 1.41%
35 Prestige Care 0 7 23,092 7 23,092 23,092 1.36%
36 MedCath 1 3,534 1 17,622 2 21,156 21,156 1.24%
37 Wellington 5 18,969 0 5 18,969 18,969 1.12%
38-68 31 Operators With Less
than 1% Each 21 86,784 41 95,840 62 182,624 -- 182,624 10.74%
----------------- ------------------- -------------------------------------------------
79 461,486 52 155,401 131 616,887 -- 616,887 36.28%
----------------- ------------------- -------------------------------------------------
Corporate Property 4,514 4,514 4,514 0.27%
----------------- ------------------- -------------------------------------------------
TOTAL INVESTMENT AND
COMMITMENTS 212 $ 1,486,768 54 $ 170,449 266 $ 1,657,217 $ 43,144 $ 1,700,361 100.00%
================= =================== ==================================================
(1) Includes construction in progress.
7) SQUARE FEET OWNED AND/OR MANAGED BY GEOGRAPHIC LOCATION
Owned Third Party
-------------------------- ------------------------------
NOT Property Asset
Managed Managed Management Management Mortgages Total Percent.
------------ ----------- ------------------------------ -----------------------------------
1 Florida 786,768 678,353 1,363,454 534,189 198,990 3,561,754 23.54%
2 Virginia 613,905 579,637 898,899 35,900 2,128,341 14.07%
3 Texas 981,529 602,794 169,883 174,044 1,928,250 12.74%
4 California 317,821 385,655 362,854 1,066,330 7.05%
5 Tennessee 161,366 410,236 190,231 298,271 1,060,104 7.01%
6 Pennsylvania 722,053 57,452 45,809 825,314 5.45%
7 Alabama 549,410 138,551 687,961 4.55%
8 Georgia 138,599 203,062 40,000 381,661 2.52%
9 Michigan 235,227 129,408 364,635 2.41%
10 Arizona 74,507 75,621 192,987 343,115 2.27%
11 Missouri 201,167 48,062 249,229 1.65%
12 Nevada 43,579 195,516 239,095 1.58%
13 Massachusetts 210,987 23,862 234,849 1.55%
14 Colorado 225,764 225,764 1.49%
15 Wyoming 29,851 162,933 192,784 1.27%
16 Mississippi 78,024 97,471 12,260 187,755 1.24%
17 Illinois 181,100 181,100 1.20%
18 Ohio 33,181 124,411 157,592 1.04%
19 Kansas 57,035 83,664 140,699 0.93%
20 Oklahoma 139,216 139,216 0.92%
21 Kentucky 126,649 126,649 0.84%
22 North Carolina 69,781 54,600 124,381 0.82%
23 New Jersey 110,844 110,844 0.73%
24 Maryland 96,780 96,780 0.64%
25 Oregon 80,429 80,429 0.53%
26 Connecticut 59,387 59,387 0.39%
27 South Carolina 21,120 23,000 44,120 0.29%
28 New Mexico 42,639 42,639 0.28%
29 Washington 39,239 39,239 0.26%
30 Montana 38,955 38,955 0.26%
31 Indiana 29,500 29,500 0.19%
32 Idaho 29,118 29,118 0.19%
33 Arkansas 11,963 11,963 0.08%
------------------------ -------------------------- ---------------------------------
TOTAL SQUARE FEET 6,083,684 3,580,456 2,749,116 534,189 2,182,107 15,129,552 100.00%
======================== ========================== =================================
PERCENT OF TOTAL SQUARE FOOTAGE 40.21% 23.67% 18.17% 3.53% 14.42% 100.00%
======================== ========================== =======================
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 6 OF 13
7
8) SQUARE FEET OWNED AND/OR MANAGED BY FACILITY TYPE
Owned Third Party
--------------------- -----------------------
Not Property Asset
Managed Managed Management Management Mortgages Total Percent
--------------------- ----------------------- ----------------------------------
Ancillary Hospital Facility 1,074,229 2,385,992 289,533 87,078 3,836,832 25.36%
Medical Office Buildings 42,932 324,543 2,441,978 447,111 3,256,564 21.52%
Assisted Living Facilities 1,633,995 1,209,597 2,843,592 18.79%
Skilled Nursing Facilities 1,286,351 747,217 2,033,568 13.44%
Physician's Clinics 869,303 198,688 17,605 105,915 1,191,511 7.88%
Comprehensive Ambulatory Care Centers 115,857 634,282 750,139 4.96%
Inpatient Rehab Hospitals 643,383 643,383 4.25%
Other Outpatient Facilities 264,293 36,951 301,244 1.99%
Other Inpatient Facilities 153,341 119,378 272,719 1.80%
--------------------- ----------------------- ----------------------------------
TOTAL SQUARE FEET 6,083,684 3,580,456 2,749,116 534,189 2,182,107 15,129,552 100.00%
===================== ======================= ==================================
PERCENT OF TOTAL SQUARE FOOTAGE 40.21% 23.67% 18.17% 3.53% 14.42% 100.00%
====================== ======================= ========================
9) SQUARE FEET OWNED AND/OR MANAGED BY OPERATOR/SIGNIFICANT TENANT
Owned Third Party
--------------------- -----------------------
Not Property Asset
Managed Managed Management Management Mortgages Total Percent
--------------------- ----------------------- ----------------------------------
PUBLIC OR INVESTMENT GRADE
OPERATOR/SIGNIFICANT TENANT
- ----------------------------------------
1 HCA - The Healthcare Company 419,726 1,060,328 1,374,878 534,189 3,389,121 22.40%
2 Healthsouth 1,210,590 185,123 1,395,713 9.23%
3 Tenet Healthcare Corporation 258,485 362,838 49,300 89,000 759,623 5.02%
4 Baptist Memorial Hospital 277,243 190,231 467,474 3.09%
5 Balanced Care 400,370 400,370 2.65%
6 Methodist 220,002 220,002 1.45%
7 Emeritus 210,552 210,552 1.39%
8 Caremark Rx 190,601 190,601 1.26%
9 United Medical Center 162,933 162,933 1.08%
10 Integrated Health 153,660 153,660 1.02%
11 Ramsay 153,341 153,341 1.01%
12-27 16 Operators
with Square Feet Less Than 1% 687,111 394,872 126,649 -- -- 1,208,632 7.99%
--------------------- ----------------------- ----------------------------------
TOTAL 3,684,436 2,663,339 1,741,058 534,189 89,000 8,712,022 57.58%
===================== ======================= ==================================
OTHER OPERATOR/SIGNIFICANT TENANT
- ----------------------------------------
28 Medicorp Health System 777,091 777,091 5.14%
29 Life Care Centers of America 620,527 131,813 752,340 4.97%
30 Senior Lifestyles 553,573 553,573 3.66%
31 Lewis-Gale Clinic, LLC 476,025 476,025 3.15%
32 Prestige Care 300,244 300,244 1.98%
33 Summerville 292,231 292,231 1.93%
34 Hearthstone 278,777 278,777 1.84%
35 Centennial Healthcare 151,172 80,000 231,172 1.53%
36 Multi-tenant 222,062 222,062 1.47%
37 Healthprime 200,558 200,558 1.33%
38-70 33 Operators with
Square Feet Less Than 1% 781,745 219,030 230,967 -- 1,101,715 2,534,015 16.75%
--------------------- ----------------------- ----------------------------------
TOTAL 2,399,248 917,117 1,008,058 -- 2,093,107 6,417,530 42.42%
===================== ======================= ==================================
TOTAL SQUARE FEET 6,083,684 3,580,456 2,749,116 534,189 2,182,107 15,129,552 100.00%
===================== ======================= ==================================
10) ASSISTED LIVING FACILITY OCCUPANCY
% of ALF
Number of ALF Revenue to
Occupancy Facilities Revenue Total Revenue
--------------------------------------------------------------------
0% to 24.9% -- -- 0.0%
25% to 49.9% -- -- 0.0%
50% to 69.9% 8 943 2.0%
70% to 84.9% 18 2,411 5.0%
85% to 100.0% 48 4,679 9.7%
-------------------------------------------------------
74 8,033 16.7%
=======================================================
NOTE: Occupancy rates are generally as of December 31, 2000, and revenues are
for the three months ended March 31, 2001.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 7 OF 13
8
11) LEASE/MORTGAGE MATURITY SCHEDULE
A) LEASES
Weighted
Average
Estimated Percent of Remaining
Number of Annualized Annualized Lease
Properties Net Revenue Net Revenue Term(Years)
-------------------------------------------------------------------------
2001 3 1,155 0.78% 0.00
2002 0 -- 0.00% 0.00
2003 3 2,853 1.93% 0.04
2004 12 7,995 5.39% 0.18
2005 6 1,483 1.00% 0.07
2006 3 1,806 1.22% 0.07
2007 11 5,332 3.60% 0.21
2008 27 20,388 13.76% 0.83
2009 29 22,907 15.46% 1.23
2010 13 6,690 4.51% 0.54
2011 22 18,974 12.80% 1.16
2012 22 14,007 9.45% 1.18
2013 19 14,948 10.09% 1.24
2014 2 2,518 1.70% 0.17
2015 5 2,144 1.45% 0.18
After 2015 13 2,204 1.49% 0.58
Multi-tenant 22 22,801 15.38% 1.07
------------------------------------------------------------------------
TOTAL 212 $148,205 100.00% 8.75
========================================================================
B) MORTGAGES
Weighted
Average
Estimated Percent of Remaining
Number of Annualized Annualized Mortgage
Mortgages Net Revenue Net Revenue Term(Years)
----------------------------------------------------------------------
2001 3 803 4.30% 0.01
2002 10 3,071 16.44% 0.18
2003 11 1,933 10.35% 0.22
2004 10 2,649 14.18% 0.55
2005 4 1,657 8.87% 0.20
2006 2 841 4.50% 0.30
2007 5 1,442 7.72% 0.72
2008 3 1,674 8.96% 0.65
2009 4 2,401 12.85% 1.07
2010 1 946 5.06% 0.53
2011 0 -- 0.00% 0.00
2012 0 -- 0.00% 0.00
2013 1 1,267 6.78% 0.47
2014 0 -- 0.00% 0.00
2015 0 -- 0.00% 0.00
After 2015 0 -- 0.00% 0.00
----------------------------------------------------------------------
TOTAL 54 $ 18,684 100.00% 4.90
======================================================================
12) COMMITMENTS AND CONSTRUCTION IN PROGRESS
AS OF MARCH 31, 2001
--------------------------------------------------------------------------------------------------
REAL ESTATE INVESTMENTS MORTGAGE INVESTMENTS
------------------------------------------------- -----------------------------------------------
Total
Investment Remaining Real Investment Remaining Total
Operator Properties Balance Commitment Estate(1) Properties Balance Commitment Mortgages
- ------------------------------ --------------------------------------------------------------------------------------------------
Baptist Memorial Hospital 3 $ 13,765 $ 20,130 $ 33,895 0 $ -- $ -- $ --
Conemaugh Health Systems 1 2,889 -- 2,889 0 -- -- --
Expansion of existing property 1 6,358 2,130 8,488 0 -- -- --
United Medical Center 1 12,915 4,420 17,335 0 -- -- --
Ephrata Community Hospital 1 702 13,850 14,552
Other Commitments 3 -- 2,614 2,614 0 -- -- --
--------------------------------------------------------------------------------------------------
TOTAL 10 $ 36,629 $ 43,144 $ 79,773 0 $ -- $ -- $ --
==================================================================================================
Percentage of construction in progress to total investment
portfolio at March 31, 2001 2.21%
=========
(1) Projected Timing of Conversion to Revenue Producing Assets:
QTR 2, 2001 QTR 3, 2001 QTR 4, 2001 QTR 1, 2002 QTR 2, 2002 QTR 3, 2002 QTR 4, 2002 Total
-----------------------------------------------------------------------------------------------------
Real Estate Investments
with related Commitments $ 37,063 $ 15,389 $ -- $ 7,849 $ 14,552 $ -- $ 4,920 $ 79,773
=====================================================================================================
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 8 OF 13
9
13) LONG-TERM DEBT INFORMATION - AS OF MARCH 31, 2001
A) BREAKDOWN BETWEEN FIXED AND VARIABLE RATE DEBT:
Balance Effective Rate
-----------------------------------
Fixed Rate Debt:
Senior Notes due 2002 $ 36,000 7.41%
Senior Notes due 2006 70,000 9.49%
6.55% Convertible Subordinated Debentures 74,675 7.50%
10.5% Convertible Subordinated Debentures 3,294 7.50%
Mortgage Notes Payable 42,768 Range from 7.625% to 9.3%
Other Notes Payable 5,251 7.53%
---------
231,988
---------
Variable Rate Debt:
$300 Million Senior Revolving Credit Facility 285,000 See (C) Below
$200 Million Senior Term Loan Facility 17,800 See (D) Below
Mortgage Notes Payable 14,160 7.58%
---------
316,960
---------
TOTAL $ 548,948
=========
B) FUTURE MATURITIES:
2001 2002 2003 2004 2005 2006 and After Total
---------------------------------------------------------------------------
Fixed Rate Debt:
Senior Notes due 2002 $ 18,000 $18,000 $ -- $ -- $ -- $ -- $ 36,000
Senior Notes due 2006 -- -- -- 20,300 20,300 29,400 70,000
6.55% Convertible Subordinated Debentures (62) 74,737 -- -- -- -- 74,675
10.5% Convertible Subordinated Debentures 6 3,288 -- -- -- -- 3,294
Mortgage Notes Payable 463 742 804 13,894 552 24,313 42,768
Other Notes Payable 583 1,167 1,167 1,167 1,167 -- 5,251
Variable Rate Debt:
$300 Million Senior Revolving
Credit Facility 285,000 -- -- -- -- -- 285,000
$200 Million Senior Term Loan Facility 17,800 -- -- -- -- -- 17,800
Mortgage Notes Payable 14,160 14,160
---------------------------------------------------------------------------
$321,790 $97,934 $16,131 $37,361 $22,019 $53,713 $548,948
===========================================================================
C) DETAILS CONCERNING $300 MILLION SENIOR REVOLVING CREDIT
FACILITY:
i) Unused Borrowing Capacity: $15 Million
ii) Interest Rate: Lower of LIBOR plus 1.05% or Prime
iii) Interest Rate on Unused Balance: 0.200%
iv) Maturity: October 2001
v) Outstanding balance at April 23, 2001: $259.0 Million
D) DETAILS CONCERNING $200 MILLION SENIOR TERM LOAN FACILITY
(REPAID IN FULL APRIL 13, 2001):
i) Unused Borrowing Capacity: $0
ii) Interest Rate: Lower of LIBOR plus 2.50% or Prime
iii) Interest Rate on Unused Balance: 0.200%
iv) Maturity: The term loan was repaid in full April 13,
2001
E) MORTGAGE NOTES DUE 2001:
In April 2001, the Company entered into six mortgage notes
payable with an aggregate principal balance of $35.0 million
related to collateral with a book value at March 31, 2001 of
$78.2 million. These mortgage notes payable and related
collateral are held by special purpose entities whose sole
members are solely owned subsidiaries of HR. These mortgage
notes payable bear interest at 7.22%, are payable in monthly
installments of principal and interest and mature in May,
2001. The proceeds from these mortgage notes payable were used
to fully repay the term loan facility and partially repay the
unsecured credit facility.
F) CREDIT RATING:
Moody's Investors Service has assigned a "Baa3" credit rating
to the Company's Senior Notes due 2002 and 2006, and a "Ba2"
rating to the Company's preferred stock and convertible
subordinated debentures.
Standard & Poors has assigned a "BBB-" corporate credit rating
to the Company.
Fitch IBCA, Duff & Phelps Credit Rating Co. has assigned a
"BBB" credit rating to the Company's Senior Notes due 2002 and
2006, and a "BBB-" rating to the Company's preferred stock and
convertible subordinated debentures.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 9 OF 13
10
14) DIVIDEND HISTORY
A) COMMON STOCK (DOLLARS NOT ROUNDED TO THOUSANDS)
Increase
From Prior
Operating Period Payment Date Amount Quarter Annualized
-------------------------------------------------------------------------------------
First Quarter 1996 May 15, 1996 0.475 0.005 1.90
Second Quarter 1996 Aug. 15, 1996 0.480 0.005 1.92
Third Quarter 1996 Nov. 15, 1996 0.485 0.005 1.94
Fourth Quarter 1996 Feb. 17, 1997 0.490 0.005 1.96
First Quarter 1997 May 15, 1997 0.495 0.005 1.98
Second Quarter 1997 Aug. 15, 1997 0.500 0.005 2.00
Third Quarter 1997 Nov. 17, 1997 0.505 0.005 2.02
Fourth Quarter 1997 Feb. 16, 1998 0.510 0.005 2.04
First Quarter 1998 May 18, 1998 0.515 0.005 2.06
Second Quarter 1998 Aug. 17, 1998 0.520 0.005 2.08
Third Quarter 1998 Nov. 16, 1998 0.525 0.005 2.10
Fourth Quarter 1998 Feb. 15, 1999 0.530 0.005 2.12
First Quarter 1999 May 17, 1999 0.535 0.005 2.14
Second Quarter 1999 Aug. 16, 1999 0.540 0.005 2.16
Third Quarter 1999 Nov. 16, 1999 0.545 0.005 2.18
Fourth Quarter 1999 Feb. 16, 2000 0.550 0.005 2.20
First Quarter 2000 May 17, 2000 0.555 0.005 2.22
Second Quarter 2000 Aug. 16, 2000 0.560 0.005 2.24
Third Quarter 2000 Dec. 6, 2000 0.565 0.005 2.26
Fourth Quarter 2000 March 7, 2001 0.570 0.005 2.28
First Quarter 2001 June 7, 2001 0.575 0.005 2.30
B) PREFERRED STOCK
Increase
From Prior
Operating Period Payment Date Amount Quarter Annualized
------------------------------------------------------------------------------------------------------
September 1, 1998 - November 15, 1998 Nov. 26, 1998 0.46224 0.0 2.22
November 16, 1998 - February 15, 1999 Feb. 26, 1999 0.55469 0.0 2.22
February 16, 1999 - May 15, 1999 May 28, 1999 0.55469 0.0 2.22
May 16, 1999 - August 15, 1999 Aug. 27, 1999 0.55469 0.0 2.22
August 16, 1999 - November 15, 1999 Nov. 26, 1999 0.55469 0.0 2.22
November 16, 1999 - February 15, 2000 Feb. 29, 2000 0.55469 0.0 2.22
February 16, 2000 - May 15, 2000 May 31, 2000 0.55469 0.0 2.22
May 16, 2000 - August 15, 2000 Aug. 31, 2000 0.55469 0.0 2.22
August 16, 2000 - November 15, 2000 Nov. 30, 2000 0.55469 0.0 2.22
November 16, 2000 - February 15, 2001 Feb. 28, 2001 0.55469 0.0 2.22
February 16, 2001 - May 15, 2001 May 31, 2001 0.55469 0.0 2.22
Healthcare Realty Trust Incorporated is authorized to issue
50,000,000 shares of Preferred Stock. 3,000,000 shares of
8 7/8% Series A Voting Cumulative Preferred Stock, par value
$.01 per share, are issued and outstanding. Upon dissolution
of the Company, the Preferred Stock is senior to common stock
with respect to dividend rights and rights upon liquidation.
Holders of Preferred Stock are entitled to receive cumulative
preferential cash dividends at the rate of 8 7/8% per annum of
the liquidation preference of $25.00 per share payable
quarterly, in arrears, on the last business day in February,
May, August, and November of each year.
Preferred Stock is not redeemable prior to September 30, 2002.
On or after September 2002, the Company, at its option, may
redeem Preferred Stock, in whole or in part, at any time or
from time to time, at the redemption price. The holders of
each share of Preferred Stock have one vote and vote together
with the holders of common stock on all matters on which
stockholders may vote.
C) INFORMATION REGARDING TAXABLE STATUS OF 2000 CASH
DISTRIBUTIONS (DOLLARS NOT ROUNDED TO THOUSANDS)
Cash Taxable
Distribution Ordinary Return of
Per Share Dividend Capital
-----------------------------------------------
HR COMMON $ 2.230000 $ 1.900346 $ 0.329654
CUSIP # 421946104
HR 8.875% SERIES A PREFERRED $ 2.218760 $ 2.218760 $ --
CUSIP # 421946203
Note> While the taxability of 2001 dividends cannot be determined until
late January 2002, the Company is not aware of any activities that
would cause a substantial change in the taxability of the total 2001
dividend. Therefore, the taxability of the total 2001 dividend should
approximate the taxability of the dividends paid February 16, May 17,
August 16, and December 6, 2000.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 10 OF 13
11
15) COMMON SHARES INFORMATION
The share amounts below set forth the computation of basic and diluted
shares (in accordance with FASB Statement No. 128) which will be used
as the denominator in the computation of EPS and FFO per share amounts:
FOR THE THREE MONTHS
ENDED MAR. 31,
------------------------
2001 2000
------------------------
TOTAL COMMON SHARES OUTSTANDING 40,557,368 40,123,071
========================
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 40,467,373 40,047,184
Actual Restricted Stock Shares (838,697) (607,465)
------------------------
DENOMINATOR SHARES FOR BASIC COMMON SHARE EPS AND FFO 39,628,676 39,439,719
Restricted Shares - Treasury 639,657 644,366
Dilution for Convertible Debentures 175,167 0
Dilution for Employee Stock Purchase Plan 96,920 30,861
------------------------
DENOMINATOR SHARES FOR DILUTED COMMON SHARE EPS AND FFO 40,540,420 40,114,946
========================
NOTE: AS OF MARCH 31, 2001, HR HAD APPROXIMATELY 1,725 SHAREHOLDERS OF
RECORD.
16) BENEFICIAL SECURITY OWNERSHIP BY MANAGEMENT AND DIRECTORS
Owned Restricted(1) Reserved (2) Options Total
-------------------------------------------------------------
OFFICERS
--------
David R. Emery 144,800(3) 392,602 168,750 0 706,152
Timothy G. Wallace 32,938 208,773 82,500 0 324,211
Roger O. West 3,238 210,549 82,500 0 296,287
Other Officers as a group 14,892 31,295 0 0 46,187
Directors as a group 41,349 2,700 0 0 44,049
-------------------------------------------------------------
TOTAL 237,217 845,919 333,750 0 1,416,886
=============================================================
(1) These shares are subject to long-term vesting requirements pursuant
to the terms of the 1993 Employees Stock Incentive Plan and the HR
Discretionary Bonus Program.
(2) These shares are specifically reserved for performance-based awards
under the 1993 Employees Stock Incentive Plan. The issuance of
"Reserved Stock" to eligible employees is contingent upon the
achievement of specific performance criteria. When issued, these shares
will be subject to long-term vesting requirements pursuant to the terms
of the 1993 Employees Stock Incentive Plan.
(3) Includes 143,352 shares owned by the Emery Family Limited
Partnership and 1,448 shares owned by the Emery Family 1993 Irrevocable
Trust. Mr. Emery is a limited partner of the partnership and a
beneficiary of the trust, but has no voting or investment power with
respect to the shares owned by such partnership or trust.
17) INSTITUTIONAL HOLDINGS AS OF DECEMBER 31, 2000
A) Institutional Shares Held: 18,607,968 (Source: Form 13F Filings)
==========
B) Number of Institutions: 155
==========
C) Percentage of Common Shares Outstanding: 46.16%
===========
18) BOOK VALUE PER COMMON SHARE
Total Stockholders' Equity $ 1,004,551
Less: Preferred Stock Liquidation/Redemption Value 75,000
-----------
Total Common Stockholders' Equity $ 929,551
Total Common Shares Outstanding 40,557,368
===========
Book Value Per Common Share $ 22.92
===========
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 11 OF 13
12
19) OTHER 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: hrinfo@healthcarerealty.com
OTHER OFFICES:
East Florida Regional Office
Georgia Regional Office
Mid-America Regional Office
Mid-Atlantic Regional Office
Southern California Regional Office
Texas/Southwest Regional Office
West Florida Regional Office
B) STOCK EXCHANGE, SYMBOL AND CUSIP NUMBER:
Security Description Stock Exchange Symbo l CUSIP Number
--------------------------------------------------------------------------------------------------------
Common Stock New York Stock Exchange HR 421946104
8.875% Series A Preferred Stock New York Stock Exchange HR.A 421946203
6.55% Convertible Subordinated Debentures New York Stock Exchange HRM02 421946AA2
10.5% Convertible Subordinated Debentures New York Stock Exchange HRA02 421946AB0
C) WEB SITE:
www.healthcarerealty.com
D) CORPORATE OFFICERS:
HEALTHCARE REALTY TRUST INCORPORATED
David R. Emery, Chairman of the Board and Chief
Executive Officer
Timothy G. Wallace, Executive Vice President and
Chief Financial Officer
Roger O. West, Executive Vice President and General
Counsel
Michael W. Crisler, Senior Vice President /
Technology
Scott W. Holmes, Senior Vice President / Financial
Reporting
Fredrick M. Langreck, Senior Vice President /
Treasurer
J. D. Carter Steele, Senior Vice President / Asset
Administration
Eric W. Fischer, Vice President / Real Estate
Investments
Keith A. Harville, Vice President / Real Estate
Investments
Donald L. Husi, Vice President / Senior Living Asset
Administration
Leigh Ann Stach, Vice President / Financial Reporting
and Controller
Rita H. Todd, Corporate Secretary
HEALTHCARE REALTY SERVICES INCORPORATED
B. Bart Starr, Chairman of the Board
Roland H. Hart, President
Thomas M. Carnell, Vice President / Design &
Construction
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 - Center for Health
Administration, University of Colorado (Healthcare
Academician)
C. Raymond Fernandez, M.D., Chief Executive Officer and Chief
Medical Officer, Piedmont Clinic (Physician)
Batey M. Gresham, Jr., A.I.A., Founder, Gresham Smith &
Partners (Healthcare Architect)
Marliese E. Mooney (Hospital Operations Consultant)
Edwin B. Morris III, Managing Director, Morris & Morse (Real
Estate Finance Executive)
J. Knox Singleton, Chief Executive Officer, INOVA Health
Systems (Healthcare Provider Executive)
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 12 OF 13
13
F) PROFESSIONAL AFFILIATIONS:
INDEPENDENT PUBLIC AUDITORS
Ernst & Young LLP
NationsBank Plaza
414 Union Street
Nashville, TN 37219-1779
TRANSFER AGENT
BankBoston
c/o EquiServe, LP
Investor Services
P.O. Box 8040
Boston, MA 02266-8040
Phone: 781-575-3400
G) DIVIDEND REINVESTMENT PLAN:
Through the Company's transfer agent, Boston EquiServe, named
Shareholders of Record can re-invest dividends in shares at a
5% discount without a service or sales charge. In addition, up
to $5 thousand of HR common stock may be purchased per quarter
through the transfer agent without a service or sales charge
to the shareholder.
H) ANALYSTS PROVIDING RESEARCH COVERAGE ON HR:
A.G. Edwards & Sons, Inc. Manuel K. Pyles (314) 955-3588
Credit Suisse First Boston Corporation Larry Raiman (212) 538-2380
J. J. B. Hilliard, W. L. Lyons, Inc. John M. Roberts (502) 588-9143
Legg Mason Wood Walker Inc. Jerry L. Doctrow (410) 454-5142
Prudential Securities, Inc. Jim Sullivan (212) 778-2515
SunTrust Equitable Securities James G. Baker, III (615) 780-9413
UBS Warburg Howard Capek (212) 821-6369
I) PROJECTED DATES FOR 2000 DIVIDEND AND EARNINGS PRESS RELEASES:
DIVIDEND EARNINGS
---------------- ----------------
First Quarter 2001 April 24, 2001 April 27, 2001
Second Quarter 2001 July 24, 2001 July 27, 2001
Third Quarter 2001 October 23, 2001 October 26, 2001
Fourth Quarter 2001 January 22, 2002 January 25, 2002
NOTE> A conference call will be scheduled at 9:00 AM CST the
morning of the earnings press release.
J) INVESTOR RELATIONS:
HEALTHCARE REALTY TRUST INCORPORATED
3310 West End Avenue, Suite 700
Nashville, TN 37203
Attention: Bethany A. Anderson
Phone: 615-269-8175
Fax: 615-269-8461
E-mail: BAnderson@healthcarerealty.com
In addition to the historical information contained within, this enclosed
information may contain forward-looking statements that involve risks and
uncertainties, including the development of transactions that may materially
differ from the results of these projections. These risks are discussed in a
10-K filed with the SEC by Healthcare Realty Trust Incorporated for the year
ended December 31, 2000. The 10-K is available via the Company's web site or by
calling Investor Relations at (615) 269-8175. Forward-looking statements
represent the Company's judgment as of the date of the release of this
information. The Company disclaims any obligation to update this
forward-looking material.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2001 PAGE 13 OF 13