SCOTTSDALE, AZ-Healthcare Trust of America Inc.'s Q2 2013 earnings focused on an increase in same-property cash net operating income, an increase in rental income and relatively unchanged normalized funds from operations. Same property cash NOI was at $49.7 million, an increase of $1.6 million (or 3.4%) and an increase of $3.5 million (6.7%) year over year.
Rental income, in the meantime, increased 3% ($2.2 million to $76.6 million) compared to Q2 2012. Though FFO per diluted share increased $0.14 compared to Q2 2012, the normalized FFO of $0.16 per diluted share (or $35.7 million) remained unchanged year over year.
Other earnings highlights included:
- A portfolio with an occupancy rate of 91.3%
- New leases and renewals totaling 238,000 square feet
- Tenant retention at approximately 85%
- Year-to-date acquisitions totaling $151.2 million.
- Normalized Funds Available for Distribution of $0.14 per diluted share, or $32 million, an increase of 7.7% from $0.13 per diluted share, or $30.6 million from the same period a year ago.
- General and administrative expenses at $6.2 million, compared to $4.9 million for the three months ended June 30, 2012. This increase was primarily due to the transition of property management and leasing to HTA's in-house asset management platform.
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