EXHIBIT 99.3
[HEALTHCARE REALTY TRUST LOGO]
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA, UNLESS OTHERWISE DISCLOSED
UPDATED AS OF APRIL 29, 2004
1) RECONCILIATION OF FUNDS FROM OPERATIONS (1) - UNAUDITED
<Table>
<Caption>
FOR THE THREE MONTHS
ENDED MAR 31,
---------------------------
2004 2003
----------- -----------
NET INCOME (2) $ 17,812 $ 18,568
NET (GAIN)/LOSS ON SALE OF REAL ESTATE PROPERTIES 0 0
REAL ESTATE DEPRECIATION AND AMORTIZATION 11,282 9,979
----------- -----------
TOTAL ADJUSTMENTS 11,282 9,979
----------- -----------
FUNDS FROM OPERATIONS - BASIC AND DILUTED $ 29,094 $ 28,547
=========== ===========
FUNDS FROM OPERATIONS PER COMMON SHARE - BASIC $ 0.70 $ 0.70
=========== ===========
FUNDS FROM OPERATIONS PER COMMON SHARE - DILUTED $ 0.69 $ 0.69
=========== ===========
WTD AVERAGE COMMON SHARES OUTSTANDING - BASIC 41,668,173 40,819,618
=========== ===========
WTD AVERAGE COMMON SHARES OUTSTANDING - DILUTED 42,379,283 41,615,403
=========== ===========
</Table>
(1) Funds From Operations ("FFO") and FFO per share are operating
performance measures adopted by the National Association of Real Estate
Investment Trusts, Inc. ("NAREIT"). NAREIT defines FFO as "The most
commonly accepted and reported measure of REIT operating performance
equal to a REIT's net income, excluding gains or losses from sales of
property and adding back real estate depreciation."
The Company considers FFO to be an informative measure of REIT
performance commonly used in the REIT industry. However, FFO does not
represent cash generated from operating activities determined in
accordance with accounting principles generally accepted in the United
States ("GAAP") and is not necessarily indicative of cash available to
fund cash needs. FFO should not be considered 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.
(2) Net income includes non-cash deferred compensation of $848 thousand and
$692 thousand, respectively, for the three months ended March 31, 2004
and 2003.
- --------------------------------------------------------------------------------
Quarterly Supplemental Data Report is also available on the Company's
website-- www.healthcarerealty.com
Bethany A. Mancini (615) 269-8175
Email: BMancini@healthcarerealty.com
- --------------------------------------------------------------------------------
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 1 OF 12
2) CONSOLIDATED BALANCE SHEETS
<Table>
<Caption>
ASSETS (Unaudited) (1)
MAR. 31, 2004 DEC. 31, 2003
------------- -------------
Real estate properties (2):
Land $ 140,387 $ 139,732
Buildings, improvements and lease intangibles 1,460,458 1,405,426
Personal property 14,268 14,416
Construction in progress 15,220 13,198
----------- -----------
1,630,333 1,572,772
Less accumulated depreciation (243,178) (232,763)
----------- -----------
Total real estate properties, net 1,387,155 1,340,009
Cash and cash equivalents 59,125 3,840
Mortgage notes receivable 93,057 91,835
Other assets, net 108,476 90,026
----------- -----------
Total assets $ 1,647,813 $ 1,525,710
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Notes and bonds payable $ 716,872 $ 590,281
Accounts payable and accrued liabilities 20,342 15,649
Other liabilities 15,784 17,502
----------- -----------
Total liabilities 752,998 623,432
----------- -----------
Commitments and contingencies 0 0
Stockholders' equity:
Preferred stock, $.01 par value; 50,000,000 shares authorized;
issued and outstanding, none 0 0
Common stock, $.01 par value; 150,000,000 shares authorized;
issued and outstanding, 2004-- 43,046,892; 2003-- 42,823,916 430 428
Additional paid-in capital 1,062,864 1,054,465
Deferred compensation (24,976) (18,396)
Cumulative net income 533,471 515,659
Cumulative dividends (676,974) (649,878)
----------- -----------
Total stockholders' equity 894,815 902,278
----------- -----------
Total liabilities and stockholders' equity $ 1,647,813 $ 1,525,710
=========== ===========
</Table>
(1) The balance sheet at December 31, 2003 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.
(2) Total weighted average depreciable life is 34.1 years. (see schedule 5)
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 2 OF 12
3) CONSOLIDATED STATEMENTS OF INCOME
<Table>
<Caption>
FOR THE THREE MONTHS
ENDED MAR 31,
---------------------------
2004 2003
----------- -----------
(Unaudited) (Unaudited)
REVENUES
Master lease rental income $ 23,010 $ 22,339
Property operating income 24,764 19,801
Straight line rent 182 620
Mortgage interest income 2,814 2,681
Interest and other income 894 1,580
---------------------------
51,664 47,021
EXPENSES
General and administrative 3,417 2,669
Property operating expenses 10,362 7,661
Interest 8,973 8,446
Depreciation 11,087 10,128
Amortization 13 13
---------------------------
33,852 28,917
---------------------------
INCOME FROM CONTINUING OPERATIONS 17,812 18,104
DISCONTINUED OPERATIONS
Operating income from Discontinued Operations 0 464
Gain/(loss) on sale of real estate properties 0 0
---------------------------
0 464
NET INCOME $ 17,812 $ 18,568
===========================
BASIC EARNINGS PER COMMON SHARE:
INCOME FROM CONTINUING OPERATIONS PER COMMON SHARE $ 0.43 $ 0.44
===========================
DISCONTINUED OPERATIONS PER COMMON SHARE $ -- $ 0.01
===========================
NET INCOME PER COMMON SHARE $ 0.43 $ 0.45
===========================
DILUTED EARNINGS PER COMMON SHARE:
INCOME FROM CONTINUING OPERATIONS PER COMMON SHARE $ 0.42 $ 0.44
===========================
DISCONTINUED OPERATIONS PER COMMON SHARE $ -- $ 0.01
===========================
NET INCOME PER COMMON SHARE $ 0.42 $ 0.45
===========================
WTD AVERAGE COMMON SHARES OUTSTANDING - BASIC 41,668,173 40,819,618
===========================
WTD AVERAGE COMMON SHARES OUTSTANDING - DILUTED 42,379,283 41,615,403
===========================
</Table>
NOTE: The income statements do not include all of the information and
footnotes required by generally accepted accounting principles for
complete financial statements.
RECONCILIATION OF NET INCOME TO TAXABLE INCOME (UNAUDITED)
<Table>
<Caption>
FOR THE THREE MONTHS
ENDED MAR 31,
----------------------------
2004 2003
----------- ----------
NET INCOME $ 17,812 $ 18,568
DEPRECIATION AND AMORTIZATION (1) 11,501 10,293
DEPRECIATION AND AMORTIZATION (2) (9,813) (8,597)
GAIN OR LOSS ON DISPOSITION OF DEPRECIABLE ASSETS (523) 2
STRAIGHT LINE RENT (182) (665)
OTHER 3,018 974
----------------------------
4,001 2,007
----------------------------
TAXABLE INCOME (3) $ 21,813 $ 20,575
============================
</Table>
(1) Per books
(2) Tax basis
(3) Before REIT dividend paid deduction
NOTE: The differences between financial statement net income and REIT
taxable income arise from income and expenses included in net income
that are nontaxable or nondeductible, respectively, for federal income
tax purposes, or that are taxable or deductible, respectively, in
another period or periods due to timing differences between the methods
of accounting appropriate under generally accepted accounting
principles and those required for federal income tax purposes. Such
differences for the Company include those listed above in detail and
other differences, which are attributable to deferred rents, reserves
for doubtful accounts and other contingencies, prepaid expenses,
deferred compensation, nondeductible expenses, nontaxable income,
purchase accounting differences arising from tax-free reorganizations,
and other differences between GAAP and federal income tax accounting
methods.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 3 OF 12
4) INVESTMENT PROGRESSION
A) CONSTRUCTION IN PROGRESS
<Table>
<Caption>
FOR THE THREE
NUMBER OF MONTHS ENDED
PROPERTIES 03/31/04
-------------------------
Balance at beginning of period 2 $ 13,198
Fundings on projects in existence at
the beginning of the period 0 6,115
New Projects started during the period (1) 1 3,165
Completions (1) (1) (7,258)
-------------------------
Balance at end of period 2 $ 15,220
=========================
</Table>
B) REAL ESTATE PROPERTIES
<Table>
<Caption>
FOR THE THREE
NUMBER OF MONTHS ENDED
PROPERTIES 03/31/04
-------------------------
Balance at beginning of period 202 $ 1,559,574
Acquisitions (2) 8 47,998
Additions/Improvements 0 2,912
Completions (CIP) (1) 1 7,258
Sales (2) 0 (2,629)
-------------------------
Balance at end of period 211 $ 1,615,113
=========================
</Table>
C) MORTGAGE NOTES RECEIVABLE
<Table>
<Caption>
FOR THE THREE
NUMBER OF MONTHS ENDED
PROPERTIES 03/31/04
-------------------------
Balance at beginning of period 14 $ 91,835
Funding of Mortgages (2) 1 1,260
Repayments 0 0
Amortization 0 140
Scheduled Principal Payments 0 (178)
-------------------------
Balance at end of period 15 $ 93,057
=========================
</Table>
(1) In February 2004, construction began on a medical office building in Irving,
Texas. Also, on February 19, 2004, a certificate of substantial completion was
issued on an ancillary hospital facility in Collierville, Tennessee.
(2) The Annex portion of a physician clinic in Florida was sold by the Company
for $2.6 million. Additionally, and as part of the same transaction, the Company
funded a $1.3 million mortgage on the facility. On March 1, 2004, the Company
acquired a medical office building in Illinois totaling $18.0 million; on March
2, 2004, the Company acquired three medical office buildings in Michigan
totaling $21.0 million; on March 8, 2004, the Company acquired four medical
office buildings in Arizona totaling $9.0 million.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 4 OF 12
5) INVESTMENT BY TYPE AND GEOGRAPHIC LOCATION
<Table>
<Caption>
INPATIENT FACILITIES
----------------------------------------------------------------------
MEDICAL OFFICE/ ASSISTED SKILLED INPATIENT INDEPENDENT OTHER
OUTPATIENT LIVING NURSING REHAB LIVING INPATIENT % OF
FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES (1) TOTAL TOTAL
--------------------------------------------------------------------------------------------------------------
MASTER LEASES
1 Alabama $ 55,405 $ 4,370 $ 17,722 $ 77,497 4.50%
2 Arizona 5,274 $ 2,874 8,148 0.47%
3 Arkansas 3,055 3,055 0.18%
4 California 25,834 $ 12,688 38,522 2.24%
5 Colorado 4,967 21,441 26,408 1.53%
6 Connecticut 12,189 12,189 0.71%
7 Florida 100,017 21,869 10,206 11,703 143,795 8.34%
8 Georgia 7,022 10,079 17,101 0.99%
9 Illinois 13,425 13,425 0.78%
10 Indiana 3,640 3,640 0.21%
11 Kansas 7,593 7,593 0.44%
12 Massachusetts 12,034 12,034 0.70%
13 Michigan 21,913 13,859 35,772 2.08%
14 Mississippi 4,498 3,474 7,972 0.46%
15 Missouri 20,939 6,250 11,139 38,328 2.22%
16 Nevada 10,833 10,833 0.63%
17 New Jersey 19,047 19,047 1.11%
18 North Carolina 3,982 3,982 0.23%
19 Ohio 4,612 4,612 0.27%
20 Oklahoma 13,341 13,341 0.77%
21 Pennsylvania 32,180 21,765 113,867 167,812 9.74%
22 Tennessee 5,750 3,874 8,335 17,959 1.04%
23 Texas 67,054 28,895 19,466 13,203 $ 43,680 6,023 178,321 10.35%
24 Virginia 27,102 17,675 37,234 82,011 4.76%
--------------------------------------------------------------------------------------------------------------
TOTAL MASTER
LEASES 358,242 173,463 178,947 156,495 43,680 32,570 943,397 54.74%
--------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
SAME FACILITY NOI GROWTH FOR MASTER LEASES: 2.1%
- -----------------------------------------------------------------------------------------------------------------------------------
OPERATING PROPERTIES
1 Arizona $ 26,103 $ 26,103 1.51%
2 California 94,748 94,748 5.50%
3 Florida 111,984 111,984 6.50%
4 Georgia 7,032 7,032 0.41%
5 Hawaii 20,708 20,708 1.20%
6 Illinois 17,996 17,996 1.04%
7 Kansas 11,062 11,062 0.64%
8 Louisiana 10,962 10,962 0.64%
9 Michigan 21,002 21,002 1.22%
10 Mississippi 8,332 8,332 0.48%
11 Missouri 18,147 18,147 1.05%
12 Nevada 45,287 45,287 2.63%
13 Pennsylvania 23,498 23,498 1.36%
14 Tennessee 85,758 85,758 4.98%
15 Texas 109,972 109,972 6.38%
16 Virginia 46,050 46,050 2.67%
17 Wyoming 19,065 19,065 1.11%
--------------------------------------------------------------------------------------------------------------
TOTAL OPER.
PROPERTIES 677,706 -- -- -- -- -- 677,706 39.32%
--------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
SAME FACILITY NOI GROWTH FOR OPERATING PROPERTIES: 2.2%
- -----------------------------------------------------------------------------------------------------------------------------------
Corporate
Property 9,230 0.54%
--------------------------------------------------------------------------------------------------------------
TOTAL EQUITY
INVESTMENTS $ 1,035,948 $ 173,463 $ 178,947 $ 156,495 $ 43,680 $ 32,570 $ 1,630,333 94.60%
==============================================================================================================
- -----------------------------------------------------------------------------------------------------------------------------------
Wtd Avg
Depreciable
Life (yrs): 33.8 32.2 34.4 34.8 31.6 34.6 34.1
Wtd Avg
Period
Held (yrs): 6.1 4.9 6.7 5.5 5.5 6.3 6.0
- -----------------------------------------------------------------------------------------------------------------------------------
MORTGAGES
1 Arizona $ 4,621 $ 16,561 $ 21,182 1.23%
2 California 4,883 4,883 0.28%
3 Florida $ 1,260 11,362 $ 23,351 35,973 2.09%
4 Georgia 1,102 1,102 0.06%
5 Idaho 4,701 4,701 0.27%
6 Michigan $ 1,554 1,554 0.09%
7 Oregon 2,731 2,731 0.16%
8 South Carolina 2,882 2,882 0.17%
9 Tennessee 18,049 18,049 1.05%
--------------------------------------------------------------------------------------------------------------
TOTAL MTG.
INVESTMENTS $ 1,260 $ 32,282 $ 19,603 $ -- $ 23,351 $ 16,561 $ 93,057 5.40%
- -----------------------------------------------------------------------------------------------------------------------------------
SAME FACILITY NOI GROWTH FOR MORTGAGES: 1.9%
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL
INVESTMENTS $ 1,037,208 $ 205,745 $ 198,550 $ 156,495 $ 67,031 $ 49,131 $ 1,723,390 100.00%
==============================================================================================================
PERCENT OF
$ INVESTED 60.52% 12.00% 11.58% 9.13% 3.91% 2.87% 100.00%
==============================================================================================================
NUMBER OF
PROPERTIES 134 38 36 9 6 5 228
==============================================================================================================
NUMBER OF
BEDS 2,823 3,629 773 1,193 374 8,792
=============================================================================================
</Table>
(1) 4 facility types <2% each.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 5 OF 12
6) SQUARE FEET OWNED AND/OR MANAGED
A) BY GEOGRAPHIC LOCATION
<Table>
<Caption>
NUMBER OF PROPERTIES OWNED
---------------------------- ---------------------------------- THIRD PARTY
THIRD MORT- NOT CONSTRUCTION PROPERTY
OWNED PARTY GAGES TOTAL MANAGED IN PROGRESS MANAGED MANAGEMENT MORTGAGES TOTAL PERCENT
---------------------------- ---------------------------------- ---------------------------------------------
1 Florida 33 6 5 44 752,894 723,689 55,501 965,307 2,497,391 19.46%
2 Texas 31 31 1,343,913 276,705 492,499 2,113,117 16.46%
3 Tennessee 15 5 2 22 133,471 562,507 275,338 142,191 1,113,507 8.68%
4 Virginia 24 24 524,719 472,388 111,998 1,109,105 8.64%
5 Pennsylvania 20 20 722,053 117,996 840,049 6.54%
6 California 12 1 13 184,913 458,465 50,000 693,378 5.40%
7 Connecticut 1 36 37 59,387 528,229 587,616 4.58%
8 Michigan 11 1 12 315,227 198,293 49,408 562,928 4.39%
9 Alabama 10 10 507,493 507,493 3.95%
10 Arizona 8 2 10 74,507 160,780 60,078 295,365 2.30%
11 Missouri 10 10 172,412 106,146 278,558 2.17%
12 Illinois 3 3 256,865 256,865 2.00%
13 Nevada 3 3 43,579 198,064 241,643 1.88%
14 Colorado 3 3 225,094 225,094 1.75%
15 Georgia 6 1 7 90,741 73,504 40,000 204,245 1.59%
16 Mississippi 3 3 6 25,000 94,987 75,336 195,323 1.52%
17 Hawaii 2 2 142,165 142,165 1.11%
18 Wyoming 1 1 2 139,647 139,647 1.09%
19 Oklahoma 5 5 139,216 139,216 1.08%
20 Louisiana 2 2 129,286 129,286 1.01%
21 Kansas 2 2 57,035 70,908 127,943 1.00%
22 New Jersey 2 2 110,844 110,844 0.86%
23 Massachusetts 2 2 84,242 84,242 0.66%
24 Oregon 0 1 1 80,429 80,429 0.63%
25 North Carolina 1 1 33,181 33,181 0.26%
26 Ohio 1 1 33,181 33,181 0.26%
27 Indiana 1 1 29,500 29,500 0.23%
28 Idaho 0 1 1 29,118 29,118 0.23%
29 South Carolina 0 1 1 23,000 23,000 0.18%
30 Arkansas 1 1 11,963 11,963 0.09%
------------------------- --------------------------------------------------------------------------------
TOTAL SQUARE FEET 5,931,430 276,705 4,141,324 1,046,402 1,439,531 12,835,392 100.00%
================================================================================
TOTAL PROPERTIES 213 51 15 279
===========================
</Table>
B) BY FACILITY TYPE
<Table>
<Caption>
OWNED
--------------------------------------------- THIRD PARTY
NOT CONSTRUCTION TOTAL PROPERTY
MANAGED IN PROGRESS MANAGED OWNED MANAGEMENT MORTGAGES TOTAL PERCENT
--------------------------------------------- -----------------------------------------------
Medical Office/Outpatient Facilities 2,445,161 276,705 4,141,324 6,863,190 1,017,001 22,500 7,902,691 61.57%
Skilled Nursing Facilities 1,266,081 1,266,081 191,599 1,457,680 11.36%
Assisted Living Facilities 1,051,722 1,051,722 380,707 1,432,429 11.16%
Independent Living Facilities 308,742 308,742 835,147 1,143,889 8.91%
Inpatient Rehab Hospitals 643,383 643,383 643,383 5.01%
Other Inpatient Facilities 216,341 216,341 29,401 9,578 255,320 1.99%
--------------------------------------------- ----------------------------------------------
TOTAL SQUARE FEET 5,931,430 276,705 4,141,324 10,349,459 1,046,402 1,439,531 12,835,392 100.00%
============================================= ==============================================
PERCENT OF TOTAL SQUARE FOOTAGE 46.21% 2.16% 32.26% 80.63% 8.15% 11.22% 100.00%
============================================= ==============================================
TOTAL NUMBER OF PROPERTIES 135 2 76 213 51 15 279
============================================= ==============================================
</Table>
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 6 OF 12
7) SQUARE FOOTAGE BY OWNERSHIP TYPE
A)OCCUPANTS GREATER THAN 1% (1)
<Table>
<Caption>
INPATIENT FACILITIES
MEDICAL ---------------------------------------------------------
OFFICE/ ASSISTED SKILLED INPATIENT INDEPENDENT OTHER % OF
OUTPATIENT LIVING NURSING REHAB LIVING INPATIENT TOTAL (2)
FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES TOTAL SQUARE FEET
---------------------------------------------------------------------------------------------
1 Healthsouth 105,176 643,383 748,559 6.35%
2 Life Care Centers of America 51,319 512,060 563,379 4.78%
3 Emeritus Corporation 502,119 502,119 4.26%
4 Senior Lifestyles 308,742 308,742 2.62%
5 Summerville Senior Living 292,231 292,231 2.48%
6 Lewis-Gale Clinic LLC 291,818 291,818 2.48%
7 Centennial Healthcare Corporation 151,172 151,172 1.28%
8 Melbourne Internal Medicine Assocs 140,125 140,125 1.19%
9 HCA 129,464 129,464 1.10%
10 Chicago Heights Health Ventures 110,000 110,000 0.93%
All Other Occupants: 6,086,607 206,053 602,849 -- -- 216,341 7,111,850 60.33%
---------------------------------------------------------------------------------------------
TOTAL 6,863,190 1,051,722 1,266,081 643,383 308,742 216,341 10,349,459 87.79%
---------------------------------------------------------------------------------------------
</Table>
B)MORTGAGEES GREATER THAN 1%
<Table>
<Caption>
INPATIENT FACILITIES
MEDICAL -----------------------------------------------------------
OFFICE/ ASSISTED SKILLED INPATIENT INDEPENDENT OTHER % OF
OUTPATIENT LIVING NURSING REHAB LIVING INPATIENT TOTAL (2)
FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES TOTAL SQUARE FEET
-------------------------------------------------------------------------------------------------
1 Aston Care Systems, Inc. 835,147 835,147 7.08%
2 Life Care Centers of America 23,000 108,813 131,813 1.12%
3 Prestige Care 129,618 129,618 1.10%
4 Adult Care Management Co. 107,660 107,660 0.91%
All Other Mortgagees: 22,500 120,429 82,786 9,578 235,293 2.00%
-------------------------------------------------------------------------------------------------
TOTAL 22,500 380,707 191,599 -- 835,147 9,578 1,439,531 12.21%
-------------------------------------------------------------------------------------------------
</Table>
(1)Medical Office/Outpatient Facilities consists of approximately 1,900
occupants with an average square footage of approximately 3,500 feet per each,
while Inpatient Facilities consists of 18 occupants with an average square
footage of approximately 193,000 feet per each.
(2)Based on Total Square Footage of Owned Properties and Mortgages
8) LEASE/MORTGAGE MATURITY SCHEDULE
A) LEASES
<Table>
<Caption>
WEIGHTED
NUMBER OF AVERAGE
OPERATING ESTIMATED PERCENT OF REMAINING
NUMBER OF PROPERTY ANNUALIZED ANNUALIZED LEASE
MASTER LEASES LEASES NET REVENUE NET REVENUE TERM (YEARS)
-----------------------------------------------------------------
2004 13 96 $ 16,623 10.20% 0.03
2005 4 115 9,848 6.04% 0.06
2006 3 104 9,210 5.65% 0.11
2007 8 59 9,615 5.90% 0.23
2008 14 54 12,085 7.42% 0.46
2009 22 17 21,223 13.03% 0.78
2010 13 12 10,624 6.52% 0.53
2011 8 11 18,249 11.20% 0.54
2012 8 8 7,244 4.45% 0.39
2013 28 9 24,619 15.11% 1.51
2014 1 6 1,920 1.18% 0.07
2015 8 0 9,066 5.56% 0.39
After 2015 5 4 12,592 7.73% 1.58
-----------------------------------------------------------------
TOTAL 135 495 $162,918 100.00% 6.67
================================================================
</Table>
NUMBER OF PROPERTIES REPRESENTED: 213
B) MORTGAGES
<Table>
<Caption>
WEIGHTED
AVERAGE
ESTIMATED PERCENT OF REMAINING
NUMBER OF ANNUALIZED ANNUALIZED MORTGAGE
MORTGAGES NET REVENUE NET REVENUE TERM (YEARS)
--------------------------------------------------------------
2004 5 $ 3,198 28.39% 0.11
2005 3 821 7.29% 0.16
2006 3 4,622 41.03% 0.70
2007 0 -- 0.00% 0.00
2008 2 854 7.58% 0.34
2009 1 549 4.87% 0.31
2010 0 -- 0.00% 0.00
2011 0 -- 0.00% 0.00
2012 0 -- 0.00% 0.00
2013 1 1,222 10.85% 1.31
2014 0 -- 0.00% 0.00
2015 0 -- 0.00% 0.00
After 2015 0 -- 0.00% 0.00
--------------------------------------------------------------
TOTAL 15 $ 11,266 100.00% 2.92
==============================================================
</Table>
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 7 OF 12
9) CONSTRUCTION IN PROGRESS - AS OF MARCH 31, 2004
<Table>
<Caption>
INVESTMENT REMAINING TOTAL
OPERATOR PROPERTIES BALANCE COMMITMENT REAL ESTATE (1)
----------------------------------------------------------------------------------------------
Baylor Medical Center at Plano 1 $12,055 $20,280 $32,335
Baylor Medical Center at Irving 1 3,165 18,645 21,810
-----------------------------------------------------
TOTAL (2) 2 $15,220 $38,925 $54,145
=====================================================
Percentage of construction in progress to total investment portfolio: 0.88%
==============
</Table>
(1) Projected Timing of Conversion to Revenue Producing Assets:
<Table>
<Caption>
2004 2005
-------------------------------------------------------------------------
QTR 1 QTR 2 QTR 3 QTR 4 QTR1 QTR2 QTR3 Total
-------------------------------------------------------------------------
$0 $0 $0 $0 $32,335 $0 $21,810 $54,145
=========================================================================
</Table>
(2) During the three months ending March 31, 2004, the Company
capitalized interest in the amount of $252 thousand.
10) DIVIDEND HISTORY (DOLLARS NOT ROUNDED TO THOUSANDS)
A) COMMON STOCK
<Table>
<Caption>
INCREASE
FROM PRIOR
OPERATING PERIOD PAYMENT DATE AMOUNT QUARTER ANNUALIZED
-----------------------------------------------------------------------------------------
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 Mar. 7, 2001 0.570 0.005 2.28
First Quarter 2001 June 7, 2001 0.575 0.005 2.30
Second Quarter 2001 Sept. 6, 2001 0.580 0.005 2.32
Third Quarter 2001 Dec. 6, 2001 0.585 0.005 2.34
Fourth Quarter 2001 Mar. 6, 2002 0.590 0.005 2.36
First Quarter 2002 June 6, 2002 0.595 0.005 2.38
Second Quarter 2002 Sept. 5, 2002 0.600 0.005 2.40
Third Quarter 2002 Dec. 5, 2002 0.605 0.005 2.42
Fourth Quarter 2002 Mar. 6, 2003 0.610 0.005 2.44
First Quarter 2003 June 5, 2003 0.615 0.005 2.46
Second Quarter 2003 Sept. 4, 2003 0.620 0.005 2.48
Third Quarter 2003 Dec. 4, 2003 0.625 0.005 2.50
Fourth Quarter 2003 Mar. 4, 2004 0.630 0.005 2.52
First Quarter 2004 June 3, 2004 0.635 0.005 2.54
</Table>
B) PREFERRED STOCK
On September 30, 2002, the Company redeemed all of the
3,000,000 shares of Preferred Stock then outstanding,
pursuant to the terms of issuance, at the redemption price
of $25.00 per share. Prior to the redemption, the Company
made quarterly cash distributions on the Preferred Stock at
an annualized rate of $2.22 per share. Healthcare Realty
Trust Incorporated is authorized to issue 50,000,000 shares
of Preferred Stock.
C) INFORMATION REGARDING TAXABLE STATUS OF 2003 CASH
DISTRIBUTIONS
<Table>
<Caption>
CASH TAXABLE TOTAL
DISTRIBUTION ORDINARY RETURN OF CAPITAL
PER SHARE DIVIDEND CAPITAL GAIN
-------------------------------------------------
HR COMMON $2.470000 $1.497420 $0.972580 $ --
CUSIP # 421946104
</Table>
NOTE: On May 28, 2003 the Jobs and Growth Tax Relief Reconciliation Act of 2003
("JGTRRA") was signed into law which, as part of an effort to correct the
effects of double taxation of certain corporate dividends, included a measure to
lower the tax rate on dividends paid to shareholders. However, dividends paid by
REITs have not historically been subject to this double taxation and therefore,
the lower rate applied to dividends in the new law will not apply to the
dividends paid by the Company. The dividends paid by the Company will continue
to be taxed at the current ordinary income rates of the taxpayer.
Additionally, the JGTRRA lowered the capital gains rates. These capital gain
rate reductions apply to shareholders with any type of capital gain, including
those that are created by a REIT. Therefore, these lower rates will apply to
capital gains of the Company which any shareholder may have.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 8 0F 12
11) LONG-TERM DEBT INFORMATION - AS OF MARCH 31, 2004
A) BREAKDOWN BETWEEN FIXED AND VARIABLE RATE DEBT:
<Table>
<Caption>
BALANCE EFFECTIVE RATE
------------------------------------------
Fixed Rate Debt:
Senior Notes due 2006 $ 49,700 9.49%
Senior Notes due 2011, net 314,362 7.218% See Note (C)
Senior Notes due 2014, net 298,495 5.190% See Note (F)
Mortgage Notes Payable 52,565 Range from 7.22% to 7.76% See Note (D)
Other Note Payable 1,750 7.53%
--------
716,872
Variable Rate Debt:
Unsecured Credit Facility due 2006 -- 1.10% over LIBOR See Note (E)
--------
TOTAL $716,872
========
</Table>
B) FUTURE MATURITIES:
<Table>
<Caption>
2009
2004 2005 2006 2007 2008 AND AFTER TOTAL
--------------------------------------------------------------------
Fixed Rate Debt:
Senior Notes due 2006 $ -- $20,300 $29,400 $ -- $ -- $ -- $ 49,700
Senior Notes due 2011, net 1,285 1,822 1,956 2,099 2,254 304,946 314,362
Senior Notes due 2014, net (89) (124) (131) (138) (133) 299,110 298,495
Mortgage Notes Payable 2,628 3,747 4,037 4,348 4,681 33,124 52,565
Other Note Payable 583 1,167 -- -- -- -- 1,750
Variable Rate Debt:
Unsecured Credit Facility due 2006 -- -- -- -- -- -- --
--------------------------------------------------------------------
$4,407 $26,912 $35,262 $6,309 $6,802 $637,180 $716,872
====================================================================
</Table>
C) In May 2001, the Company sold at a discount $300 million
principal amount of unsecured 8.125% Senior Notes due May
2011. The notes were priced to yield 8.202%. In June 2001, the
Company entered into interest rate swap agreements totaling
$125 million to offset changes in the fair value of $125
million of the notes. The Company terminated these interest
rate swap agreements in 2003 and entered into new swap
agreements under terms identical to those of the old swap
agreements except for an increase in the interest paid by the
Company from an equivalent rate of 1.99% to 4.12% over six
month LIBOR. Upon termination of the old swaps, the Company
received cash equal to the fair value of the terminated swaps
of $18.4 million. The fair value gain of $18.4 million and the
fair value of the new interest rate swaps are combined with
the principal balance of the senior notes on the balance
sheet. The fair value gain is being amortized against interest
expense over the remaining term of the notes offsetting the
increase in the spread over LIBOR.
D) In April 2001, the Company entered into six Mortgage Notes
Payable with an aggregate principal balance of $35 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 2011.
E) In October 2003, the Company entered into a new three year
$300 million senior unsecured revolving credit facility. The
new facility may be increased to $350 million at any time
during the first 2 years of the facility term at the Company's
request subject to the availability of additional capital
commitments and may be extended for one additional year. The
facility bears interest at LIBOR rates plus 1.10%, payable
quarterly, and matures in October 2006. In addition, the
Company pays a facility fee of 0.35% on the commitment, and is
subject to other terms and conditions customary for
transactions of this nature.
F) In March 2004, the Company sold at a discount $300 million
principal amount of 5.125% unsecured Senior Notes due April
2014. The notes were priced to yield 5.19%. The proceeds from
the offering were used to repay in full the amount outstanding
under the Company's Unsecured Credit Facility due 2006, to
repay maturing indebtedness on the Company's 9.49% Senior
Notes due 2006, and for general corporate purposes.
G) CREDIT RATING:
Moody's Investors Service has assigned a "Baa3" credit rating
to the Company's Senior Notes due 2006, 2011, and 2014.
Standard & Poor's Investors Service has assigned a "BBB-"
credit rating to the Company's Senior Notes due 2006, 2011,
and 2014.
Fitch Ratings has assigned a "BBB" credit rating to the
Company's Senior Notes due 2006, 2011, and 2014.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 9 0F 12
12) 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:
<Table>
<Caption>
FOR THE THREE MONTHS
ENDED MAR 31,
-------------------------
2004 2003
---------- ----------
TOTAL COMMON SHARES OUTSTANDING 43,046,892 42,023,529
=========================
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 42,975,557 41,941,672
Actual Restricted Stock Shares (1,307,384) (1,122,054)
--------------------------
DENOMINATOR SHARES FOR BASIC COMMON SHARE EPS AND FFO 41,668,173 40,819,618
Restricted Shares - Treasury 629,580 732,226
Dilution for Employee Stock Purchase Plan 81,530 63,559
--------------------------
DENOMINATOR SHARES FOR DILUTED COMMON SHARE EPS AND FFO 42,379,283 41,615,403
==========================
</Table>
Note 1: As of March 31, 2004, HR had approximately 1,919 shareholders of record.
13) BENEFICIAL SECURITY OWNERSHIP BY MANAGEMENT AND DIRECTORS AS OF MARCH
31, 2004
<Table>
<Caption>
OFFICERS OWNED RESTRICTED (1) RESERVED OPTIONS TOTAL
----------------------------------------------------------------------------------------------------------------------
David R. Emery 144,800(2) 813,680 0 0 958,480
Roger O. West 5,832 420,735 0 0 426,567
Scott W. Holmes 2,310 9,654 0 0 11,964
J.D. Carter Steele 3,623 9,277 0 0 12,900
John M. Bryant 854 4,087 0 0 4,941
Other Officers as a group 27,692 45,833 0 0 73,525
Directors as a group 47,672 3,000 0 0 50,672
----------------------------------------------------------------------------
TOTAL 232,783 1,306,266 0 0 1,539,049
============================================================================
</Table>
(1) These shares are subject to long-term vesting requirements pursuant
to the terms of the 1993 Employees Stock Incentive Plan, the 2003
Employees Restricted Stock Incentive Plan and the HR Discretionary
Bonus Program.
(2) 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.
14) INSTITUTIONAL HOLDINGS AS OF DECEMBER 31, 2003
<Table>
A) Institutional Shares Held: 20,695,761 (Source: Form 13F Filings)
===========
B) Number of Institutions: 164
===========
C) Percentage of Common Shares Outstanding: 48.33%
===========
</Table>
15) BOOK VALUE PER COMMON SHARE
<Table>
Total Stockholders' Equity $ 894,815
Total Common Shares Outstanding 43,046,892
-----------
Book Value Per Common Share $ 20.79
===========
</Table>
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 10 0F 12
16) 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:
Central Regional Office - Tennessee
Eastern Regional Office - Georgia
Western Regional Office - California
B) STOCK EXCHANGE, SYMBOL AND CUSIP NUMBER:
<Table>
<Caption>
SECURITY DESCRIPTION STOCK EXCHANGE SYMBOL CUSIP NUMBER
----------------------------------------------------------------------------------------------------------
Common Stock New York Stock Exchange HR 421946104
Senior Notes due 2011 OTC HR 421946AE4
Senior Notes due 2014 OTC HR 421946AF1
</Table>
C) WEB SITE:
www.healthcarerealty.com
D) CORPORATE OFFICERS:
HEALTHCARE REALTY TRUST INCORPORATED
David R. Emery, Chairman of the Board and
Chief Executive Officer
John M. Bryant, Jr., Senior Vice President and
General Counsel
Scott W. Holmes, Senior Vice President and Chief Financial
Officer
J. D. Carter Steele, Senior Vice President and Chief
Operating Officer
Eric W. Fischer, Senior Vice President / Real Estate
Investments
Fredrick M. Langreck, Senior Vice President / Treasurer
Donald L. Husi, Vice President / Senior Living Investments
Leigh Ann Stach, Vice President / Financial Reporting
Roger O. West, Vice President
B. Douglas Whitman, Vice President / Real Estate Investments
Brince R. Wilford, Vice President / Real Estate Investments
Stephen E. Cox, Associate Vice President / Operations Counsel
William R. Davis, Associate Vice President / Information
Technology
Toni L. Ewing, Associate Vice President / Asset Administration
Rita H. Todd, Corporate Secretary
HEALTHCARE REALTY SERVICES INCORPORATED
B. Bart Starr, Chairman of the Board
Thomas M. Carnell, Vice President / Design & Construction
Stephen E. Hull, Vice President / Asset Management
Gilbert T. Irvin, Vice President / Operations
Anne C. Sanborn, Vice President / Project Development Services
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)
Dan S. Wilford, retired President and Chief Executive Officer,
Memorial Hermann Healthcare System (Healthcare Provider
Executive)
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED MARCH 31, 2004 PAGE 11 0F 12
16) OTHER CORPORATE INFORMATION (CONT.)
F) PROFESSIONAL AFFILIATIONS:
INDEPENDENT PUBLIC AUDITORS
KPMG LLP
1900 Nashville City Center
511 Union Street
Nashville, TN 37219-1735
TRANSFER AGENT
EquiServe
P.O. Box 43010
Providence, RI 02940-3010
Phone: 781-575-3400
G) DIVIDEND REINVESTMENT PLAN:
Through the Company's transfer agent, 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 $60 thousand of HR common stock may be
purchased per calendar year through the transfer agent
without a service or sales charge to the shareholder. For
information, write EquiServe, Shareholder Services, P.O.
Box 43010, Providence, RI 02940-3010, or call (781)
575-3400.
H) DIRECT DEPOSIT OF DIVIDENDS:
Direct deposit of dividends is offered as a convenience to
stockholders of record. For information, write EquiServe,
Shareholder Services, P.O. Box 43010, Providence, RI
02940-3010, or call (781) 575-3400.
I) ANALYSTS PROVIDING RESEARCH COVERAGE ON HR:
A.G. Edwards & Sons, Inc. John Sheehan (314) 955-5834
Advest, Inc. Robert Mains (518) 587-7250
Banc of America Securities Gary Taylor (212) 847-5174
Legg Mason Wood Walker Inc. Jerry Doctrow (410) 454-5142
Prudential Securities, Inc. Jim Sullivan (212) 778-2515
Wachovia Securities, Inc. Stephen Swett (212) 909-0954
J) PROJECTED DATES FOR 2004 DIVIDEND AND EARNINGS PRESS RELEASES:
<Table>
<Caption>
DIVIDEND EARNINGS
---------------- ----------------
First Quarter 2004 April 27, 2004 April 30, 2004
Second Quarter 2004 July 27, 2004 July 30, 2004
Third Quarter 2004 October 26, 2004 October 29, 2004
Fourth Quarter 2004 January 25, 2005 January 28, 2005
</Table>
NOTE: A conference call will be scheduled at 9:00 AM
Central time the morning of the earnings press release.
K) INVESTOR RELATIONS:
Healthcare Realty Trust Incorporated
3310 West End Avenue, Suite 700
Nashville, TN 37203
Attention: Bethany A. Mancini
Phone: 615-269-8175
Fax: 615-269-8461
E-mail: BMancini@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, 2003. 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, 2004 PAGE 12 0F 12