EXHIBIT 99.1
[HEALTHCARE REALTY TRUST LOGO]
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA, UNLESS OTHERWISE DISCLOSED
UPDATED AS OF NOVEMBER 12, 2004
1) RECONCILIATION OF FUNDS FROM OPERATIONS (1) - UNAUDITED
FOR THE THREE MONTHS FOR THE NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
------------------------- -------------------------
2004 2003 2004 2003
----------- ----------- ----------- -----------
NET INCOME(2) $ 13,938 $ 17,449 $ 47,375 $ 53,652
NET LOSS ON SALE OF REAL ESTATE PROPERTIES 37 461 603 668
REAL ESTATE DEPRECIATION AND AMORTIZATION 14,828 10,308 39,011 30,628
----------- ----------- ----------- -----------
TOTAL ADJUSTMENTS 14,865 10,769 39,614 31,296
----------- ----------- ----------- -----------
FUNDS FROM OPERATIONS - BASIC AND DILUTED $ 28,803 $ 28,218 $ 86,989 $ 84,948
=========== =========== =========== ===========
FUNDS FROM OPERATIONS PER COMMON SHARE - BASIC $ 0.64 $ 0.69 $ 2.03 $ 2.08
=========== =========== =========== ===========
FUNDS FROM OPERATIONS PER COMMON SHARE - DILUTED $ 0.63 $ 0.68 $ 2.00 $ 2.04
=========== =========== =========== ===========
WTD AVERAGE COMMON SHARES OUTSTANDING - BASIC 44,784,456 41,087,329 42,751,434 40,939,067
=========== =========== =========== ===========
WTD AVERAGE COMMON SHARES OUTSTANDING - DILUTED 45,692,624 41,732,935 43,527,519 41,636,126
=========== =========== =========== ===========
(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 a REIT's operating performance equal to "net income
(computed in accordance with generally accepted accounting principles),
excluding gains (or losses) from sales of property plus depreciation and
amortization, and after adjustments for unconsolidated partnerships and
joint ventures."
Management believes FFO and FFO per share to be important supplemental
measures of a REIT's performance because they provide an understanding of
the operating performance of the Company's properties without giving effect
to significant non-cash items, primarily depreciation of real estate.
Management uses FFO and FFO per share to compare and evaluate its own
operating results from period to period, and to monitor the operating
results of the Company's peers in the REIT industry. The Company reports
FFO and FFO per share because these measures are observed by management to
also be the predominant measures used by the REIT industry and by industry
analysts to evaluate REITs; furthermore, because FFO per share is
consistently and regularly reported, discussed, and compared by research
analysts in their notes and publications about REITs; and finally, because
research analysts publish their earnings estimates and consensus estimates
for healthcare REITs only in terms of fully-diluted FFO per share and not
in terms of net income or earnings per share. For these reasons, management
has deemed it appropriate to disclose and discuss FFO and FFO per share.
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) During the third quarter of 2004, the Company concluded that certain
amendments related to retirement provisions in the employment agreements of
certain officers that were effective as of January 1, 2000 impacted the
measurement dates and amortization periods related to the restricted stock
of those officers. In the third quarter of 2004, the Company adjusted its
non-cash amortization of the restricted stock for these officers resulting
in a $2.4 million adjustment. See footnote 2 to the Company's income
statement. Net income includes non-cash deferred compensation of $850
thousand and $688 thousand, respectively, for the three months ended
September 30, 2004 and 2003, and $2.5 million and $2.1 million,
respectively, for the nine months ended September 30, 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 SEPTEMBER 30, 2004 PAGE 1 OF 13
2) CONSOLIDATED BALANCE SHEETS
ASSETS
(Unaudited) (1)
SEPT 30, 2004 DEC. 31, 2003
------------- -------------
Real estate properties (2):
Land $ 146,649 $ 139,732
Buildings, improvements and lease intangibles 1,705,993 1,405,426
Personal property 15,304 14,416
Construction in progress 38,709 13,198
----------- -----------
1,906,655 1,572,772
Less accumulated depreciation (270,687) (232,763)
----------- -----------
Total real estate properties, net 1,635,968 1,340,009
Cash and cash equivalents 4,026 3,840
Mortgage notes receivable 60,765 91,835
Other assets, net 106,537 90,026
----------- -----------
Total assets $ 1,807,296 $ 1,525,710
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Notes and bonds payable $ 720,865 $ 590,281
Accounts payable and accrued liabilities 36,389 15,649
Other liabilities 19,730 17,502
----------- -----------
Total liabilities 776,984 623,432
----------- -----------
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 -- 47,682,227; 2003 -- 42,823,916 476 428
Additional paid-in capital 1,217,652 1,054,465
Deferred compensation (16,031) (18,396)
Cumulative net income 563,034 515,659
Cumulative dividends (734,819) (649,878)
----------- -----------
Total stockholders' equity 1,030,312 902,278
----------- -----------
Total liabilities and stockholders' equity $ 1,807,296 $ 1,525,710
=========== ===========
(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 34.2 years. (see schedule 5)
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004 PAGE 2 OF 13
3) CONSOLIDATED STATEMENTS OF INCOME(1)
FOR THE THREE MONTHS FOR THE NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
--------------------------- ---------------------------
2004 2003 2004 2003
------------ ------------ ------------ ------------
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
REVENUES
Master lease rental income $ 23,386 $ 21,564 $ 69,106 $ 65,875
Property operating income 30,352 18,523 77,862 52,852
Straight line rent 354 811 844 2,001
Mortgage interest income 1,953 2,710 7,586 7,678
Other operating income 5,805 4,468 15,195 13,666
--------------------------- ---------------------------
61,850 48,076 170,593 142,072
EXPENSES
General and administrative 3,067 2,701 9,307 8,235
Adjustment to amortization of deferred
compensation(2) 2,440 0 2,440 0
Property operating expenses 15,556 8,757 38,980 25,054
Interest 11,715 8,627 32,470 25,637
Depreciation 12,359 10,549 35,018 31,169
Amortization 2,775 13 5,003 40
--------------------------- ---------------------------
47,912 30,647 123,218 90,135
--------------------------- ---------------------------
INCOME FROM CONTINUING OPERATIONS 13,938 17,429 47,375 51,937
DISCONTINUED OPERATIONS
Operating income from Discontinued Operations 0 481 0 2,383
Loss on sale of real estate properties 0 (461) 0 (668)
--------------------------- ---------------------------
0 20 0 1,715
NET INCOME(3) $ 13,938 $ 17,449 $ 47,375 $ 53,652
=========================== ===========================
BASIC EARNINGS PER COMMON SHARE:
INCOME FROM CONTINUING OPERATIONS PER COMMON SHARE $ 0.31 $ 0.42 $ 1.11 $ 1.27
=========================== ===========================
DISCONTINUED OPERATIONS PER COMMON SHARE $ -- $ -- $ -- $ 0.04
=========================== ===========================
NET INCOME PER COMMON SHARE $ 0.31 $ 0.42 $ 1.11 $ 1.31
=========================== ===========================
DILUTED EARNINGS PER COMMON SHARE:
INCOME FROM CONTINUING OPERATIONS PER COMMON SHARE $ 0.31 $ 0.42 $ 1.09 $ 1.25
=========================== ===========================
DISCONTINUED OPERATIONS PER COMMON SHARE $ -- $ -- $ -- $ 0.04
=========================== ===========================
NET INCOME PER COMMON SHARE $ 0.31 $ 0.42 $ 1.09 $ 1.29
=========================== ===========================
WTD AVERAGE COMMON SHARES OUTSTANDING - BASIC 44,784,456 41,087,329 42,751,434 40,939,067
=========================== ===========================
WTD AVERAGE COMMON SHARES OUTSTANDING - DILUTED 45,692,624 41,732,935 43,527,519 41,636,126
=========================== ===========================
(1) The income statements do not include all of the information and
footnotes required by generally accepted accounting principles for
complete financial statements.
The Company reclassified the lease guaranty amounts related to
properties having property operating agreements from "property
operating income" to "other operating income" (previously "interest
and other income") on the Company's income statement. The lease
guaranty amounts totaled $4.7 million and $3.5 million, respectively,
for the three months ended September 30, 2004 and 2003 and totaled
$12.2 million and $10.3 million, respectively, for the nine months
ended September 30, 2004 and 2003.
The Company also reclassified the amortization of its at-market lease
intangible assets, recorded as part of the allocation of the purchase
price of real estate assets acquired, from property operating income
and depreciation expense to amortization expense. The amortization
expense for these at-market lease intangibles for the three months
ended September 30, 2004 and 2003 totaled $2.8 million and $0,
respectively, and totaled $5.0 million and $0, respectively, for the
nine months ended September 30, 2004 and 2003.
(2) In the third quarter of 2004, management concluded that certain
amendments related to retirement provisions in the employment
agreements of certain officers that were effective as of January 1,
2000 impacted the measurement dates and amortization periods related
to restricted stock reserved for or released, subject to vesting
provisions, to those officers. The Company has concluded that the
non-cash amortization of restricted stock for those officers for the
years 2000 through 2003 was understated in total by approximately
$2.3 million and was understated by approximately $121,000 for the
nine months ended September 30, 2004. Further, the Company concluded
that the deferred compensation balance on the balance sheet was
overstated by $7.3 million and the additional paid in capital balance
was overstated by $4.9 million at September 30, 2004 due to the
change in the measurement dates and the understatement of
amortization expense. The adjustments related to prior period
financial statements are not, in the opinion of management, material
to the consolidated financial statements for each of the prior years
or current year financial statements. Therefore, the Company has
adjusted the deferred compensation balance, additional paid in
capital balance, and related amortization expense in its Consolidated
Financial Statements for the three and nine months ended September
30, 2004. There was no impact to total stockholders' equity as a
result of these adjustments.
(3) The decline in net income in the quarter ended September 30, 2004 is
largely related to the application of Financial Accounting Standards
Board ("FASB") Statement No. 141 in accounting for the acquisition of
real estate operations. The Company has acquired approximately $299
million in real estate operations year-to-date. FASB Statement No.
141 requires that the purchase price of these real estate operations
be allocated between the land, the physical building as if the
building was vacant when acquired, and the lease intangible assets
acquired. The purchase price allocated to the lease intangible assets
is amortized over the remaining lease term, typically one to five
years, compared to the estimated depreciable life of the building of
39 years. The majority of the lease intangible amortization is
charged to amortization expense and, because it is accelerated, has
reduced net income more significantly for the current year than prior
years due to the increased volume of acquisitions.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004 PAGE 3 OF 13
3) CONSOLIDATED STATEMENTS OF INCOME (con't)
RECONCILIATION OF NET INCOME TO TAXABLE INCOME (UNAUDITED)
FOR THE THREE MONTHS FOR THE NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
--------------------------- ---------------------------
2004 2003 2004 2003
----------- ------------ ------------ -----------
NET INCOME $ 13,938 $ 17,449 $ 47,375 $ 53,652
DEPRECIATION AND AMORTIZATION (1) 16,930 10,598 40,022 31,539
DEPRECIATION AND AMORTIZATION (2) (12,598) (8,879) (32,783) (26,425)
GAIN OR LOSS ON DISPOSITION OF DEPRECIABLE 0 370 (514) 401
ASSETS
STRAIGHT LINE RENT (354) (811) (844) (2,082)
OTHER 5,509 (8,084) 9,910 (9,951)
--------------------------- ---------------------------
9,487 (6,806) 15,791 (6,518)
--------------------------- ---------------------------
TAXABLE INCOME (3) $ 23,425 $ 10,643 $ 63,166 $ 47,134
=========================== ===========================
(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 SEPTEMBER 30, 2004 PAGE 4 OF 13
4) INVESTMENT PROGRESSION
A) CONSTRUCTION IN PROGRESS
FOR THE THREE FOR THE NINE
NUMBER OF MONTHS ENDED NUMBER OF MONTHS ENDED
PROPERTIES 09/30/04 PROPERTIES 09/30/04
--------------------------- ---------------------------
Balance at beginning of period 3 $ 28,221 2 $ 13,198
Fundings on projects in existence at
the beginning of the period 0 10,488 0 23,711
New Projects started during the period 0 0 2 9,057
Completions 0 0 (1) (7,257)
--------------------------- ---------------------------
Balance at end of period 3 $ 38,709 3 $ 38,709
=========================== ===========================
B) REAL ESTATE PROPERTIES
FOR THE THREE FOR THE NINE
NUMBER OF MONTHS ENDED NUMBER OF MONTHS ENDED
PROPERTIES 09/30/04 PROPERTIES 09/30/04
--------------------------- ---------------------------
Balance at beginning of period 222 $1,738,565 202 $1,559,574
Acquisitions (1) 20 125,052 40 297,445
Additions/Improvements 0 4,594 0 10,618
Completions (CIP) 0 0 1 7,257
Sales (2) 0 (265) (1) (6,948)
--------------------------- ---------------------------
Balance at end of period 242 $1,867,946 242 $1,867,946
=========================== ===========================
C) MORTGAGE NOTES RECEIVABLE
FOR THE THREE FOR THE NINE
NUMBER OF MONTHS ENDED NUMBER OF MONTHS ENDED
PROPERTIES 09/30/04 PROPERTIES 09/30/04
--------------------------- ---------------------------
Balance at beginning of period 12 $ 81,911 14 $ 91,835
Funding of Mortgages 0 0 1 1,260
Repayments (1) (2) (21,174) (5) (32,297)
Amortization 0 159 0 448
Scheduled Principal Payments 0 (131) 0 (481)
--------------------------- ---------------------------
Balance at end of period 10 $ 60,765 10 $ 60,765
=========================== ===========================
(1) On July 30, 2004, the Company acquired 20 ancillary hospital facilities in
Texas for $133 million. Approximately $10 million of the purchase price was
allocated and recorded as intangible assets included in other assets on the
Company's balance sheet. Additionally, land was acquired in Texas for $1.8
million. Also, during the quarter a $16.5 million mortgage note receivable on a
specialty hospital facility in Arizona was repaid in full and a $4.7 million
mortgage note receivable on an assisted living facility in Idaho was repaid
in full.
(2) During the quarter, two parcels of land were sold for $0.2 million.
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004 PAGE 5 OF 13
5) INVESTMENT BY TYPE AND GEOGRAPHIC LOCATION
INPATIENT FACILITIES
------------------------------------------------------------
MEDICAL OFFICE/ ASSISTED SKILLED INPATIENT INDEPENDENT OTHER
OUTPATIENT LIVING NURSING REHAB LIVING INPATIENT % OF
FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES TOTAL TOTAL
--------------- ---------- ---------- ---------- ----------- ---------- -------- ---------
MASTER LEASES
1 Alabama $ 55,560 $ 4,395 $ 17,722 $ 77,677 3.95%
2 Arizona 5,253 $ 2,874 8,127 0.41%
3 Arkansas 3,055 3,055 0.16%
4 California 25,834 $12,688 38,522 1.96%
5 Colorado 4,967 21,441 26,408 1.34%
6 Connecticut 12,189 12,189 0.62%
7 Florida 100,047 26,719 10,206 11,703 148,675 7.56%
8 Georgia 4,278 6,025 10,303 0.52%
9 Illinois 13,425 13,425 0.68%
10 Indiana 3,740 3,740 0.19%
11 Kansas 7,593 7,593 0.39%
12 Massachusetts 12,034 12,034 0.61%
13 Michigan 21,913 13,859 35,772 1.82%
14 Mississippi 4,498 3,498 7,996 0.41%
15 Missouri 20,940 6,250 11,139 38,329 1.95%
16 Nevada 3,801 3,801 0.19%
17 New Jersey 19,047 19,047 0.97%
18 North Carolina 3,982 3,982 0.20%
19 Ohio 4,612 4,612 0.23%
20 Oklahoma 13,341 13,341 0.68%
21 Pennsylvania 32,179 21,765 113,867 167,811 8.53%
22 Tennessee 5,750 3,899 14,545 24,194 1.23%
23 Texas 67,105 28,895 19,465 13,202 $43,680 6,022 178,369 9.07%
24 Virginia 27,102 17,675 37,234 82,011 4.17%
----------------------------------------------------------------------------------------------
TOTAL MASTER
LEASES $348,682 $174,332 $185,256 $156,494 $43,680 $32,569 $941,013 47.83%
----------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
SAME FACILITY NOI GROWTH FOR MASTER LEASES (3Q2004 TO 3Q2003): 2.5%
- --------------------------------------------------------------------------------------------------------------------------------
OPERATING PROPERTIES
1 Arizona $ 26,261 $ 26,261 1.33%
2 California 95,136 95,136 4.84%
3 District of Columbia 28,502 28,502 1.45%
4 Florida 112,329 112,329 5.71%
5 Georgia 9,913 9,913 0.50%
6 Hawaii 26,862 26,862 1.37%
7 Illinois 18,089 18,089 0.92%
8 Kansas 11,494 11,494 0.58%
9 Louisiana 11,294 11,294 0.57%
10 Maryland 13,955 13,955 0.71%
11 Michigan 21,137 21,137 1.07%
12 Mississippi 8,520 8,520 0.43%
13 Missouri 18,177 18,177 0.92%
14 Nevada 52,476 52,476 2.67%
15 Pennsylvania 23,245 23,245 1.18%
16 Tennessee 157,658 157,658 8.01%
17 Texas 255,258 255,258 12.97%
18 Virginia 46,613 46,613 2.37%
19 Wyoming 18,904 18,904 0.96%
----------------------------------------------------------------------------------------------
TOTAL OPER.
PROPERTIES $955,823 $-- $-- $-- $-- $-- $955,823 48.58%
----------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
SAME FACILITY NOI GROWTH FOR OPERATING PROPERTIES (3Q2004 TO 3Q2003): 3.3%
- --------------------------------------------------------------------------------------------------------------------------------
Corporate
Property 9,819 0.50%
------------------------------------------------------------------------------------------------
TOTAL EQUITY
INVESTMENTS $1,304,505 $174,332 $185,256 $156,494 $43,680 $32,569 $1,906,655 96.91%
===============================================================================================
- --------------------------------------------------------------------------------------------------------------------------------
Wtd Avg
Depreciable
Life (yrs):
Wtd Avg Period 34.7 32.4 34.5 34.8 31.6 34.6 34.2
Held (yrs): 5.4 5.3 7.0 6.0 6.0 7.4 5.7
- --------------------------------------------------------------------------------------------------------------------------------
MORTGAGES
1 Arizona $ 4,592 $ 4,592 0.23%
2 California 4,839 4,839 0.25%
3 Florida $ 1,260 11,276 $18,626 31,162 1.58%
4 Michigan $ 1,554 1,554 0.08%
5 Oregon 2,710 2,710 0.14%
6 South Carolina 2,864 2,864 0.15%
7 Tennessee 13,044 13,044 0.66%
------------------------------------------------------------------------------------------------
TOTAL MTG.
INVESTMENTS $ 1,260 $ 26,281 $ 14,598 $ -- $18,626 $ -- $ 60,765 3.09%
------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
SAME FACILITY NOI GROWTH FOR MORTGAGES (3Q2004 TO 3Q2003): 1.4%
- --------------------------------------------------------------------------------------------------------------------------------
TOTAL
INVESTMENTS $1,305,765 $200,613 $199,854 $156,494 $62,306 $32,569 $1,967,420 100.00%
================================================================================================
PERCENT OF
$ INVESTED 66.71% 10.25% 10.21% 7.99% 3.18% 1.66% 100.00%
================================================================================================
NUMBER OF
PROPERTIES 166 36 36 9 5 3 255
================================================================================================
NUMBER OF
BEDS 2,688 3,550 766 909 374 8,287
================================================================================
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004 PAGE 6 OF 13
6) SQUARE FEET OWNED AND/OR MANAGED
A) BY GEOGRAPHIC LOCATION
Number of Properties Owned
------------------------------ ---------------------------------
Third Party
Third Mort- Not Construction Property
Owned Party gages Total Managed In Progress Managed Management Mortgages Total Percent
------------------------------ --------------------------------- ----------------------------------------
1 Texas 51 51 987,629 276,705 1,987,381 3,251,715 22.10%
2 Florida 35 6 4 45 799,791 741,641 60,055 576,425 2,177,912 14.80%
3 Tennessee 22 5 1 28 166,849 1,277,494 277,318 160,132 1,881,793 12.79%
4 Virginia 24 24 527,705 472,388 111,998 1,112,091 7.56%
5 Pennsylvania 20 20 722,053 117,996 840,049 5.71%
6 California 12 1 13 184,913 458,465 50,000 693,378 4.71%
7 Michigan 11 1 12 315,227 198,909 49,408 563,544 3.83%
8 Connecticut 1 36 37 59,387 -- 474,784 534,171 3.63%
9 Alabama 10 10 507,530 -- 507,530 3.45%
10 Missouri 10 10 201,167 106,146 307,313 2.09%
11 Arizona 8 1 9 74,507 160,780 50,500 285,787 1.94%
12 Hawaii 3 3 -- 144,000 138,450 282,450 1.92%
13 Colorado 3 3 277,083 -- 277,083 1.88%
14 Illinois 3 3 115,100 141,765 256,865 1.75%
15 Nevada 3 3 16,878 224,765 241,643 1.64%
16 District of Columbia 2 2 -- 182,836 182,836 1.24%
17 Wyoming 1 1 2 -- 139,647 139,647 0.95%
18 Georgia 5 5 65,741 73,504 139,245 0.95%
19 Oklahoma 5 5 139,216 139,216 0.95%
20 Mississippi 2 2 4 25,000 58,036 49,254 132,290 0.90%
21 Louisiana 2 2 129,770 129,770 0.88%
22 Kansas 2 2 57,035 70,908 127,943 0.87%
23 New Jersey 2 2 110,844 110,844 0.75%
24 Massachusetts 2 2 92,742 92,742 0.63%
25 Maryland 2 2 90,893 90,893 0.62%
26 Oregon 0 1 1 -- 80,429 80,429 0.55%
27 North Carolina 1 1 33,181 33,181 0.23%
28 Ohio 1 1 33,181 33,181 0.23%
29 Indiana 1 1 29,500 29,500 0.20%
30 South Carolina 0 1 1 -- 23,000 23,000 0.16%
31 Arkansas 1 1 11,963 -- 11,963 0.08%
32 New York 0 1 1 -- 1,926 1,926 0.01%
----------------------------- ---------------------------------------------------------------------------
TOTAL PROPERTIES/
SQUARE FEET 245 51 10 306 5,554,222 420,705 6,771,774 975,335 989,894 14,711,930 100.00%
============================= ===========================================================================
B) BY FACILITY TYPE
Owned
----------------------------------------------- Third Party
Not Construction Total Property
Managed In Progress Managed Owned Management Mortgages Total Percent
----------------------------------------------- ----------------------------------------------
Medical Office/Outpatient Facilities 1,979,691 420,705 6,771,774 9,172,170 941,380 22,500 10,136,050 68.90%
Skilled Nursing Facilities 1,351,448 1,351,448 209,540 1,560,988 10.61%
Assisted Living Facilities 1,054,617 1,054,617 311,589 1,366,206 9.29%
Independent Living Facilities 308,742 308,742 446,265 755,007 5.13%
Inpatient Rehab Hospitals 643,383 643,383 643,383 4.37%
Other Inpatient Facilities 216,341 216,341 33,955 250,296 1.70%
----------------------------------------------- ----------------------------------------------
TOTAL SQUARE FEET 5,554,222 420,705 6,771,774 12,746,701 975,335 989,894 14,711,930 100.00%
=============================================== ==============================================
PERCENT OF TOTAL SQUARE FOOTAGE 37.75% 2.86% 46.03% 86.64% 6.63% 6.73% 100.00%
=============================================== ==============================================
TOTAL NUMBER OF PROPERTIES 135 3 107 245 51 10 306
=============================================== ==============================================
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004 PAGE 7 OF 13
7) SQUARE FOOTAGE BY OWNERSHIP TYPE
A) OCCUPANTS GREATER THAN 1% (1)
INPATIENT FACILITIES
------------------------------------------------------------
MEDICAL % OF
OFFICE/ ASSISTED SKILLED INPATIENT INDEPENDENT OTHER TOTAL(2)
OUTPATIENT LIVING NURSING REHAB LIVING INPATIENT SQUARE
FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES TOTAL FEET
---------- --------------------------------------------------------------------------------
1 Healthsouth 105,176 643,383 748,559 5.45%
2 Baylor Health Systems 568,072 568,072 4.14%
3 Life Care Centers of America 51,319 512,060 563,379 4.10%
4 Emeritus Corporation 502,119 502,119 3.66%
5 Senior Lifestyles 308,742 308,742 2.25%
6 Summerville Senior Living 292,231 292,231 2.13%
7 Lewis-Gale Clinic LLC 291,818 291,818 2.12%
8 Centennial Healthcare Corporation 151,172 151,172 1.10%
9 Ascension Nashville 150,612 150,612 1.10%
10 Melbourne Internal Medicine Assocs 140,125 140,125 1.02%
All Other Occupants: 7,916,367 208,948 688,216 -- -- 216,341 9,029,872 65.74%
------------------------------------------------------------------------------------------
TOTAL 9,172,170 1,054,617 1,351,448 643,383 308,742 216,341 12,746,701 92.79%
------------------------------------------------------------------------------------------
B) MORTGAGEES GREATER THAN 1%
INPATIENT FACILITIES
------------------------------------------------------------
MEDICAL % OF
OFFICE/ ASSISTED SKILLED INPATIENT INDEPENDENT OTHER TOTAL(2)
OUTPATIENT LIVING NURSING REHAB LIVING INPATIENT SQUARE
FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES FACILITIES TOTAL FEET
---------- --------------------------------------------------------------------------------
Aston Care Systems, Inc. 446,265 446,265 3.25%
All Other Mortgagees: 22,500 311,589 209,540 -- -- -- 543,629 3.96%
------------------------------------------------------------------------------------------
TOTAL 22,500 311,589 209,540 -- 446,265 -- 989,894 7.21%
------------------------------------------------------------------------------------------
(1) Medical Office/Outpatient Facilities consists of approximately 2,400
occupants with an average square footage of approximately 3,900 feet per each,
while Inpatient Facilities consists of 18 occupants with an average square
footage of approximately 199,000 feet per each.
(2) Based on Total Square Footage of Owned Properties and Mortgages.
8) LEASE/MORTGAGE MATURITY SCHEDULE
A) LEASES
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 6 284 $ 14,007 6.68% 0.01
2005 4 228 14,284 6.81% 0.03
2006 3 185 15,287 7.29% 0.07
2007 8 170 24,885 11.87% 0.20
2008 14 100 17,577 8.38% 0.34
2009 26 162 33,777 16.11% 0.81
2010 13 23 12,192 5.82% 0.52
2011 8 23 20,426 9.74% 0.53
2012 8 9 8,399 4.01% 0.39
2013 28 20 27,082 12.92% 1.55
2014 3 17 3,065 1.46% 0.07
2015 8 0 4,912 2.34% 0.39
After 2015 5 6 13,750 6.56% 1.66
--------------------------------------------------------------------------
TOTAL 134 1,227 $209,643 100.00% 6.55
==========================================================================
NUMBER OF PROPERTIES REPRESENTED: 245
B) MORTGAGES
WEIGHTED
AVERAGE
ESTIMATED PERCENT OF REMAINING
NUMBER OF ANNUALIZED ANNUALIZED MORTGAGE
MORTGAGES NET REVENUE NET REVENUE TERM (YEARS)
-----------------------------------------------------------
2004 1 $ 228 2.99% 0.00
2005 3 818 10.74% 0.15
2006 2 3,938 51.70% 0.69
2007 0 -- 0.00% 0.00
2008 2 861 11.30% 0.44
2009 1 550 7.22% 0.42
2010 0 -- 0.00% 0.00
2011 0 -- 0.00% 0.00
2012 0 -- 0.00% 0.00
2013 1 1,222 16.04% 1.89
2014 0 -- 0.00% 0.00
2015 0 -- 0.00% 0.00
After 2015 0 -- 0.00% 0.00
-----------------------------------------------------------
TOTAL 10 $7,617 100.00% 3.60
===========================================================
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004 PAGE 8 OF 13
9) CONSTRUCTION IN PROGRESS - AS OF SEPTEMBER 30, 2004
Investment Remaining Total
Operator Properties Balance Commitment Real Estate (1)
------------------------------- -----------------------------------------------------------
Baylor Medical Center at Plano 1 $25,182 $ 8,728 $ 33,910
Baylor Medical Center at Irving 1 7,382 14,428 21,810
Hawaii MOB (2) 1 6,145 40,855 47,000
-----------------------------------------------------------
TOTAL (3) 3 $38,709 $64,011 $102,720
===========================================================
Percentage of construction in progress to total investment portfolio: 1.97%
=========
(1) Projected Timing of Conversion to Revenue Producing Assets:
2004 2005
-------------------------------------------------------------------------------------------
QTR 1 QTR 2 QTR 3 QTR 4 QTR 1 QTR 2 QTR 3 Total
-------------------------------------------------------------------------------------------
$0 $0 $0 $33,910 $0 $21,810 $0 $55,720
===========================================================================================
(2) During the second quarter of 2004, the Company acquired land in
Honolulu. The site is currently under preparation, and the building
is in the design phase.
(3) During the three and nine months ending September 30, 2004, the
Company capitalized interest in the amount of $379 thousand and $972
thousand respectively.
10) DIVIDEND HISTORY (DOLLARS NOT ROUNDED TO THOUSANDS)
A) COMMON STOCK
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
Second Quarter 2004 Sept. 2, 2004 0.640 0.005 2.56
Third Quarter 2004 Dec. 2, 2004 0.645 0.005 2.58
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
Cash Taxable Total
Distribution Ordinary Return of Capital
Per Share Dividend Capital Gain
----------------------------------------------------------
HR COMMON $2.470000 $1.497420 $0.972580 $ --
CUSIP # 421946104
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004 PAGE 9 OF 13
11) LONG-TERM DEBT INFORMATION - AS OF SEPTEMBER 30, 2004
A) BREAKDOWN BETWEEN FIXED AND VARIABLE RATE DEBT:
Balance Effective Rate
--------------------------------------------
Fixed Rate Debt:
Senior Notes due 2006 49,700 9.49%
Senior Notes due 2011, net 311,363 7.218% See Note (C)
Senior Notes due 2014, net 298,554 5.190% See Note (F)
Mortgage Notes Payable 51,081 Range from 7.22% to 7.76% See Note (D)
Other Note Payable 1,167 7.53%
--------
711,865
--------
Variable Rate Debt:
Unsecured Credit Facility due 2006
9,000 1.10% over LIBOR See Note (E)
--------
9,000
--------
TOTAL $720,865
========
B) FUTURE MATURITIES:
2009
2004 2005 2006 2007 2,008 and After Total
-------------------------------------------------------------------------------
Fixed Rate Debt:
Senior Notes due 2006 -- 20,300 29,400 -- -- -- $ 49,700
Senior Notes due 2011, net 437 1,822 1,956 2,099 2,254 302,795 311,363
Senior Notes due 2014, net (30) (124) (131) (138) (133) 299,110 298,554
Mortgage Notes Payable 1,143 3,747 4,037 4,348 4,681 33,125 51,081
Other Note Payable -- 1,167 -- -- -- -- 1,167
Variable Rate Debt:
Unsecured Credit Facility due 2006 -- -- 9,000 -- -- -- 9,000
-------------------------------------------------------------------------------
$1,550 $26,912 $44,262 $6,309 $6,802 $635,030 $720,865
===============================================================================
C) In May 2001, the Company sold $300 million principal amount of
unsecured Senior Notes due May 2011. The notes were priced to yield
8.202%. The Company also entered into an interest rate swap
agreement with two banks on $125 million of these notes on which the
Company will effectively pay interest at the equivalent rate of
4.12% over six month LIBOR. The rate is established each May 1 and
November 1 for the previous six month period. The fair value of the
interest rate swap is combined with the principal balance of the
Senior Notes due 2011.
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 SEPTEMBER 30, 2004 PAGE 10 OF 13
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:
FOR THE THREE MONTHS FOR THE NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
----------------------------- -----------------------------
2004 2003 2004 2003
----------------------------- -----------------------------
TOTAL COMMON SHARES OUTSTANDING 47,682,227 42,810,142 47,682,227 42,810,142
============================= =============================
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 46,092,008 42,206,768 44,042,019 42,058,506
Weighted Average Actual Restricted Stock Shares (1,307,552) (1,119,439) (1,290,585) (1,119,439)
----------------------------- -----------------------------
DENOMINATOR SHARES FOR BASIC COMMON SHARE EPS AND FFO 44,784,456 41,087,329 42,751,434 40,939,067
Dilutive effect of restricted stock shares 865,482 600,128 721,251 650,002
Dilutive effect of employee stock purchase plan 42,686 45,478 54,834 47,057
----------------------------- -----------------------------
DENOMINATOR SHARES FOR DILUTED COMMON SHARE EPS AND FFO 45,692,624 41,732,935 45,527,519 41,636,126
============================= =============================
Note 1: As of September 30, 2004, HR had approximately 1,896 shareholders of
record.
Note 2: During the third quarter, the Company issued 4.6 million shares of
common stock at $36.30 per share ($34.57 per share net of discounts and
commissions) in an underwritten public offering and received approximately
$159 million in net proceeds.
13) BENEFICIAL SECURITY OWNERSHIP BY MANAGEMENT AND DIRECTORS AS OF
SEPTEMBER 30, 2004
Officers Owned Restricted(1) Total
---------------------------------------------------------------------------------
David R. Emery 144,800(2) 813,680 958,480
Roger O. West 5,832 420,735 426,567
Scott W. Holmes 2,310 9,654 11,964
J. D. Carter Steele 3,723 9,277 13,000
John M. Bryant, Jr. 854 4,087 4,941
Other Officers as a group 27,692 46,373 74,065
Directors as a group 49,572 3,150 52,722
--------------------------------------------
TOTAL 234,783 1,306,956 1,541,739
============================================
(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 JUNE 30, 2004
A) Institutional Shares Held: 23,913,875 (Source: Form 13F Filings)
==========
B) Number of Institutions: 183
==========
C) Percentage of Common Shares Outstanding: 55.53%
==========
15) BOOK VALUE PER COMMON SHARE
Total Stockholders' Equity $ 1,030,312
-----------
Total Common Shares Outstanding 47,682,227
-----------
Book Value Per Common Share $ 21.61
===========
HEALTHCARE REALTY TRUST
SUPPLEMENTAL DATA REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2004 PAGE 11 OF 13
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 - Arizona
Eastern Regional Office - Georgia
Tennessee Regional Office - Tennessee
Texas Regional Office - Texas
Western Regional Office - California
B) STOCK EXCHANGE, SYMBOL AND CUSIP NUMBER:
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
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
James M. Albright, Vice President / Asset Management
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
Julie A. Ferrell, Associate Vice President / Real Estate Investments
Todd J. Meredith, Associate Vice President / Real Estate Investments
Amy M. Poley, Associate Vice President / Real Estate Investments
Rita H. Todd, Corporate Secretary
HEALTHCARE REALTY SERVICES INCORPORATED
B. Bart Starr, Chairman of the Board
Anne C. Barbour, Vice President / Dallas Region
Thomas M. Carnell, Vice President / Design & Construction
Stephen E. Hull, Vice President / Management Services
Gilbert T. Irvin, Vice President / Operations
Revell M. Lester, Associate Vice President / Project Development
Services
Steve L. Standifer, Associate 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)
Bruce D. Sullivan, retired audit partner, Ernst & Young LLP
(Accounting and Financial Reporting 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 SEPTEMBER 30, 2004 PAGE 12 OF 13
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 LLC Gary Taylor (212) 847-5174
Friedman, Billings, Ramsey & Co. Paul Morgan (415) 874-3412
Legg Mason Wood Walker, Inc. Jerry Doctrow (410) 454-5142
Prudential Securities, Inc. Jim Sullivan (212) 778-2515
Wachovia Securities Stephen Swett (212) 909-0954
J) PROJECTED DATES FOR 2004 DIVIDEND AND EARNINGS PRESS RELEASES:
DIVIDEND EARNINGS
----------------- -----------------
Fourth Quarter 2004 January 25, 2005 January 28, 2005
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 SEPTEMBER 30, 2004 PAGE 13 OF 13