HTIA - Earnings call 3 2023 | National Healthcare Properties, Inc.

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Operator

Welcome to the Third Quarter 2023 Healthcare Trust Inc. or HTI webcast. [Operator Instructions] Please note, this event is being recorded. Also note that certain statements and assumptions in this webcast presentation, which are not historical facts, will be forward-looking and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain assumptions and risk factors, which could cause HTI's actual results to differ materially from the forward-looking statements. We refer all of you to our SEC filings, including the Form 10-K for the year ended December 31, 2022, filed on March 17, 2023, and all other SEC filings after that date for a more detailed discussion of the risk factors that could cause these differences and impact our business.

will financial we of call, today's discuss measures non-GAAP HTI. During GAAP. in should results as with not measures isolation prepared be accordance financial These the considered or for a in substitute measures HTI to measure has part third HTI presentation the XXXX of reconciliation website available provided of on as the directly HTI's comparable a most GAAP investor for quarter these at www.healthcaretrustinc.com.

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Michael Anderson

Thanks, my Healthcare Curtis, to all all pleased you you to joining as I'm today. first for us and thank today's CEO call, welcome Trust. of

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delivering. announced, the HTI state that, company results, while quarter's want associated we towards into liquidity with of is and that a everyone company, you shareholders for a get been key the event shareholders most Before remains the this have no remains how of timing to leadership say long I all of that objective of cognizant been working has common common definitive

seniors of operating grew that by to in to our occupancy XX.X% prior property to or to Turning in third the report segment happy quarter, quarter. I'm portfolio the compared X.X% SHOP our HTI housing the results.

million primarily increased in the payments year. We XXXX. Revenue quarter, new segment or MOB SHOP were received $X portfolio to the same feet decreased portfolio strong portfolio related compared of segment Additionally, during in the to third same and leases of straight-line our by X.X% momentum XXXX. with quarter to of quarter not NOI in our square operating income or SHOP by quarter the tenants in in XXXX, completed Act, grew the the from in X.X% of XX NOI totaling compared segment over to rent. nearly the due which leasing replicated net compared MOB the this maintained CARES to $X our XXXX nearly XX,XXX million the for

bringing the to renewal feet the the a In to leases, quarter, year, XX XX to completed compared the over new addition XXX,XXX totaling for X.X% spread renewals of positive us we leases. square rental in lease lease prior at and

XXX senior of portfolio individual XX SHOP units XXX and states. September and XX, MOB X comprised of totaling land over in XX% X owned properties properties, over consisted XXXX, As feet The square assets. Based operating the was housing XX% XX portfolio of HTI on rentable NOI, buildings, office medical with million over parcels. X,XXX

remaining average our which XX, occupied the escalations weighted and increased cash annual payments rent Additionally, X.X future medical as X.X% cash was office average portfolio with term rental approximately lease September the XX.X% XXXX, building a future leases, of on of periods. in XX% of years that

a constructed high-quality select diligently have capital throughout and to assets We and into portfolio deploy MOB SHOP U.S. assets of continue the

representing geographically total only the XX% X across states than portfolio diversified states well more is XX by feet. square of portfolio Our with

estate. and a health with medical generated durable tenants shareholders, partnerships of Third MOB other focus. We well-established that by relationships real XX% portfolio only is in as of care DaVita, that HTI portfolio stability the with benefit UPMC, quarter developing the patients markets portfolio stakeholders which such We and portfolio health tenants well-respected was partner gives the our success believe to $XX the to strong our the for but the approximately and not of long-term with top We in Fresenius, our essential buildings. as brands and was care office believe million, quality NOI brands maintain well.

seek As our to our we operators. grow add strong maintain and MOB we portfolio, portfolio continue HTI's relationships high-quality to tenants to with to SHOP

our XX.X financials? years, term we lease for of XX As in acquisitions $XX.X with us contemplated XXXX, office of cap at sale have a of you properties through purchase price that million we not the in believe X, X% in and at November acquired with brings weighted portfolio earlier are average well seeking a assured. We purchase take weighted XXXX, acquired a or us average our on continue to this assuming properties is and rate are acquisitions agreement, to buildings accretive opportunistic the the our of Combined pipeline diligently, positioned remaining please will rates. Scott, medical acquisitions, the in X-property the terms pipeline. pipeline cap of which totaling

Scott Lappetito

you, Thank Michael.

to structure continue third capital We the manage during our quarter.

of XX.X%. September XX, our As net was leverage XXXX,

All of interest weighted inclusive our rate our economic at hedging a instruments of rate debt is X.X%. of average fixed

Our of representing and XX% by the nearest continues NOI MOB the operational notional interest SHOP amount. HTI revenue our approximately to in segment execute our rate our cap the increasing aggregate portfolio. cap portfolio initiatives maturity is of on April XXXX, in

$XX.X million. revenue increase to MOB the to X.X% quarter leasing to compared when earlier, activity. SHOP also year up $XX quarter X.X% by strength revenue XXXX, compared and grew favorable as the NOI acquisitions third on accretive quarter Michael the to of the million of last continued $XX As third increased million mentioned same in to from

available We office continue in space building portfolio. successfully our medical lease to

all current terms. leases pipeline assuming over have feet, leasing forward commence XX,XXX a the on square of their We

for remarks. renewals Michael third some to team term across like to almost HTI weighted call portfolio. I lease of average and XX positive remaining revenue the XXX,XXX closing maintaining also lease rental color future our completed lease quarter, feet a the growing XX.X%, we as square would During across spread the on some renewal turn the and back now

Michael Anderson

Thanks, Scott.

for properties. by, event earnings available growth liquidity acquiring position leasing long-term and continue other HTI a We capitalizing things, among high-quality on space and to MOB

on resilience MOB portfolio, its a captured lease acquisitions we positive and the spread Our to pipeline grew as year. last in portfolio demonstrate to built an renewals compared NOI continues

an MOB needs XX and years Management investment maximize opportunities experienced property responsible to leased, that strict a drive Vice our our we believe billion believe performing the existing acquisitions to being team team applying of have long-term to met are created as our Taylor demographic track to right and of that President health value. Trent Asset place management positioned managers. the our estate. which is acquisitions, trends, favor Senior execute by real local We We $X well we is ensures long-term over our and in strategy underwriting experience care standards. that and Ruggiero investment is have tenants' for are by properties guidelines expected, record David in

brought our in housing over continue SHOP SHOP Michelle portfolio. is helping new to and Lindsay perspectives vast XX sales X waters Lindsay Michelle to and the bringing to and team have the recovery collective experience the our properties through have at throughout HTI well our groups of Holmes for knowledge and team, that We Kimberly years the portfolio believe properties. our senior dedicated the qualified operations senior guiding Susan steer nearly team experience space. appreciate the Our and and joined Stepinsky both Gordon has COVID-XX Rice of year, our unchartered years, housing been with pandemic. This

the increase dedication robust quarter. pleased the year-over-year strong our with our are team's We're the the performance we renewal by facilities, revenue, the improving continued portfolio MOB accessibility to in SHOP and attractiveness the their activity dependable leasing encouraged of and to operations, third seniors of We and and families. in new portfolio reflecting SHOP recorded results

event. Thank for the an joining us eventual future HTI liquidity Our remains you today. positioning focus on for in

National Healthcare Properties (NHPBP) 7 Dec 232023 Q3 Earnings call transcript