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EX - 99.1 2 q12021 earningsrelease.htm EX - 99.1 -- HTA Healthcare Trust of America , Inc. Dedicated Owner of Best in Class Medical Office NYSE : HTA Exhibit 99.1 PRESS RELEASE Financial Contact : Robert A. Milligan Chief Financial Officer 480.998.3478 HEALTHCARE TRUST OF AMERICA , INC . REPORTS RECORD FIRST QUARTER 2021 EARNINGS AND TIGHTENS 2021 EARNINGS GUIDANCE Scottsdale , Arizona ( May 6 , 2021 ) - Healthcare Trust of America , Inc. ( NYSE : HTA ) ( “ HTA ” ) announced results for the three months ended March 31 , 2021 . First Quarter 2021 Highlights : • • • Reported net income attributable to common stockholders of $ 0.10 per diluted share . Reported Funds From Operations ( " FFO " ) as defined by NAREIT of $ 0.44 per diluted share , a record level of earnings for HTA , and an increase of 4.8 % compared to Q1 2020 . Reported Normalized FFO of $ 0.44 per diluted share , a record level of earnings for HTA , and an increase of 4.8 % compared to Q1 2020 . • Reported Normalized FAD of $ 88.8 million , a record level for HTA , and an increase of 14.7 % compared to Q1 2020 . Reported Same - Property Cash Net Operating Income ( " NOI " ) growth of 1.6 % compared to Q1 2020 . Portfolio Performance • • As of March 31 , 2021 , our portfolio had a leased rate of 89.2 % by gross leasable area ( " GLA " ) and an occupancy rate of 87.9 % by GLA . HTA executed leases of approximately 0.7 million square feet of GLA , including 209 thousand square feet of GLA in new leases and 496 thousand square feet of GLA in renewals . Re - leasing spreads increased to 3.1 % and tenant retention for the Same - Property portfolio was 66 % by GLA . Of the approximately $ 11.1 million in COVID - related rent deferral plans approved in 2020 , approximately $ 9.2 million have been repaid as of March 31 , 2021. The remainder is expected to be paid before the end of 2021 , and so far in 2021 , we have not approved any new material COVID - related deferrals . Investment Activity • • During the quarter , HTA closed on $ 32.5 million of medical office investments totaling approximately 117 thousand square feet of GLA with initial yields of 5.8 % . These investments were approximately 95 % leased as of closing and are located within HTA's key markets of Raleigh - Durham , North Carolina and Columbus , Ohio . Subsequent to the quarter , we closed on or executed exclusive letters of intent on investments totaling approximately $ 154 million at initial yields between 5.5 % and 6.0 % . These investments are expected to close in Q2 and are subject to customary closing conditions . As of today , we have substantially completed both our 51,000 square feet of GLA development in Miami , Florida , adjacent to Jackson South Hospital and our 84,000 square feet of GLA development in Bakersfield , California , adjacent to CommonSpirit's Memorial Hospital . These developments total approximately $ 51 million of total investment and are currently 82 % leased with cash rents commencing in Q3 2021. Our 109,000 square feet of GLA development in Dallas , Texas remains on schedule for completion in Q3 2021 and is currently 74 % pre - leased . We have three additional development opportunities totaling over 300,000 square feet of GLA located in our key markets that are currently in the pre - leasing phase . As of today , we have substantially completed the renovation of our Mission Medical Center MOB I & II located on the campus of St. Joseph's Hospital - Mission Viejo . These properties total 105,000 square feet of GLA and are currently 30 % leased . As of March 31 , 2021 , we were under contract to sell a 13 property portfolio located in Tennessee and Virginia , with an estimated gross sales price of $ 67.5 million , subject to customary closing conditions . The portfolio was classified as held for sale as of March 31 , 2021 in accordance with applicable accounting guidance . We anticipate this transaction to close in Q2 2021 .