Earnings call transcript: Healthcare Realty raises 2026 outlook after q3 beat

Healthcare Realty Trust reported a mixed third-quarter performance, with revenue of $286.64 million surpassing Wall Street's $275.71 million estimate. However, adjusted earnings per share (EPS) fell short of expectations, posting a loss of $0.05 a share, compared to a forecast of a profit of $0.01 a share. Despite the GAAP EPS miss, the stock rose 5.48% to $18.49 after the report, as investors were more focused on the company's raised outlook, stronger leasing trends, and improving occupancy.

Healthcare Realty raised its full-year normalized funds from operations (FFO) guidance for the third time this year, to $1.65 to $1.67 a share. The company's same-store cash NOI grew 5.1% in the quarter, and it lifted its full-year growth target to 5% to 5.25%. Same-store occupancy improved to 93.1%, up 30 basis points from the prior quarter and about 400 basis points from 18 months ago.

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