Healthcare Realty Trust Inc

Healthcare Realty Trust Incorporated (NYSE: HR) is a U.S.-based real estate investment trust that is the largest public, pure-play owner, operator, and developer of medical outpatient buildings (MOBs) in the United States. The company owns 562 properties totaling 32.8 million square feet across 49 markets, with 77% of cash NOI concentrated in its top 20 markets. Its portfolio is predominantly affiliated with major health systems including HCA, Baylor Scott & White, CommonSpirit, Ascension Health, and Advocate Health, with 51.4% of tenants being hospital-affiliated and 48.6% physician and other tenants. The company operates through both wholly-owned properties (498 buildings, 87% of square footage) and joint ventures (64 properties, 13% of square footage), with strategic joint venture partnerships including KKR, Nuveen, and CBRE. The portfolio features primarily net and absolute net lease structures (68.7%), with weighted average lease escalators of 2.9% and a weighted average lease term of 64.4 months. Healthcare Realty maintains investment-grade credit ratings of Baa2 from Moody's and BBB from S&P Global. Updated Jul 30, 2026