Morgan Keegan Reports on Healthcare Realty

Morgan Keegan commented on Healthcare Reality HR in a report released today. In the report, Morgan Keegan was positive in its assessment of the company. Morgan Keegan writes, "Healthcare Realty Trust's first quarter results, which were released earlier this month, were generally in line with our views and held few surprises. The company reported FFO of $0.24 per share which was $0.04 above our estimate and $0.02 below the First Call consensus. First quarter earnings were adversely affected by the timing of debt refinancing, though less than we had modeled. FAD per share of $0.21 was $0.04 above our estimate and $0.03 below the SNL consensus, though we put little weight on the consensus given that we do not calculate FAD the same way as management. The company defines FAD as FFO adjusted for noncash operating items, while we define it as FFO less straight-line rents, estimated tenant improvements (at $5 per expiring square feet), and other nonrecurring items" Morgan Keegan currently has an Outperform rating on Healthcare Realty and a price target of $23. Shares of Healthcare Realty closed trading on Friday at $21.39, up from $21.24 at the opening bell.