SCOTTSDALE, AZ-Healthcare Trust of America Inc., which filed its initial public offering in the middle of 2012, reported good news for its Q4 2012 earnings. On a year-over-year basis, the medical property REIT's normalized funds from operations was $35.2 million (an increase of 23.1%); normalized funds available for distribution of $30.4 million (an increase of 40%) and net operating income of $42 million (an increase of close to 15%).

Another figure trending upward was that of rental income, coming in at $43.7 million, an increase of 11.8% from the same period in 2011.

Additional balance sheet liquidity included:

Total liquidity of $519 million, including $503 million of availability on an unsecured revolving credit facility.
Total debt to total capitalization of 32.8%.
During 2012, HTA entered into a new $575 million revolving credit facility, with extended term and lower pricing, and closed on $455 million in four- and seven-year term loans.
The total cost of HTA's debt decreased by over 100 basis points to 4.06% per annum.

And in the areas of occupancy and tenant retention:

The portfolio occupancy rate, including month-to-month leases and leases that have been executed, but which have not yet commenced, remained at 91.1% by GLA, quarter over quarter.
Tenant retention for the quarter was 86.5% by GLA.
Investment grade rated tenants as a percent of annualized base rent was 39.8% as of December 31, 2012 and 56.3% of HTA's annualized base rent is derived from tenants that have (or whose parent companies have) a credit rating from a nationally recognized rating agency.

Instant Insights /

HTA Q4: Positive Alphabet Soup

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