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Form 8-K

sec.gov

8-K — Healthcare Realty Trust Inc

Accession: 0001360604-26-000039

Filed: 2026-04-30

Period: 2026-04-30

CIK: 0001360604

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — hr-20260430.htm (Primary)

EX-99.1 (exhibit991firstquarter2026.htm)

EX-99.2 (exhibit992supplementalinfo.htm)

GRAPHIC (hrlogo-rgba.jpg)

GRAPHIC (salient-factsxxxq1x2026a.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: hr-20260430.htm · Sequence: 1

hr-20260430

0001360604False00013606042026-04-302026-04-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 30, 2026 (April 30, 2026)

Healthcare Realty Trust Incorporated

(Exact name of registrant as specified in its charter)

Maryland 001-35568 20-4738467

(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)

3310 West End Avenue, Suite 700 Nashville, Tennessee 37203

(615)

269-8175

(Address of Principal Executive Office and Zip Code)

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol(s) Name of each exchange on which registered

Class A Common Stock, $0.01 par value per share HR New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Healthcare Realty Trust Incorporated ☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Healthcare Realty Trust Incorporated ☐

Item 2.02 Results of Operations and Financial Condition.

First Quarter Earnings and Dividend Press Release

On April 30, 2026, Healthcare Realty Trust Incorporated (the “Company”) issued a press release announcing its earnings and dividend for the first quarter ended March 31, 2026. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

Item 7.01 Regulation FD Disclosure

First Quarter Supplemental Information

The Company is furnishing its Supplemental Information for the first quarter ended March 31, 2026, which is also contained on its website (www.healthcarerealty.com). See Exhibit 99.2 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1

First quarter earnings and dividend press release, dated April 30, 2026.

99.2

Supplemental Information for the first quarter ended March 31, 2026.

104  Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Healthcare Realty Trust Incorporated

Date: April 30, 2026 By: /s/ Daniel Gabbay

Name: Daniel Gabbay

Title: Executive Vice President and Chief Financial Officer

EX-99.1

EX-99.1

Filename: exhibit991firstquarter2026.htm · Sequence: 2

Document

News Release

HEALTHCARE REALTY REPORTS FIRST QUARTER 2026 RESULTS AND INCREASES FULL YEAR 2026 GUIDANCE

NASHVILLE, Tennessee, April 30, 2026. Healthcare Realty Trust Incorporated (NYSE:HR) today announced results for the first quarter ended March 31, 2026. In addition, the Company announced an increased 2026 Normalized FFO guidance range of $1.59 to $1.65 per share (diluted), a $0.01 increase at the midpoint, and an increased Same Store Cash NOI growth guidance range of 3.75% to 4.75% (+25bps increase).

FIRST QUARTER 2026 HIGHLIGHTS

•GAAP Net loss of $(0.00) per share, NAREIT FFO of $0.35 per share, Normalized FFO of $0.41 per share, and FAD of $112.9 million (payout ratio of 75%)

•Same store cash NOI growth of +6.9%, tenant retention of 93.5% and+4.2% cash leasing spreads

•First quarter lease executions totaled 2.0 million square feet across same store properties and redevelopment projects, including 286,000 square feet of new lease executions

•During the first quarter, the Company completed total transactions of approximately $125 million, including the first new acquisition in the KKR joint venture since formation for $89 million ($18 million at the Company's pro rata share) and dispositions of $33 million

•Net Debt to Adjusted EBITDA of 5.5x adjusted for expected mortgage note receivable repayment in the second quarter

•Repurchased 5.7 million shares of common stock at an average price of $17.38 per share for a total of $100 million

•Received $400 million commitments from existing Bank Group for a new unsecured delayed draw term loan expected to close in May 2026; the Company will have the ability to draw the proceeds at any time over the 12-month period post-closing

•As part of ongoing Board Refreshment initiatives, longtime director Jay Leupp announced he will retire following our upcoming Annual Meeting of Shareholders on May 19, 2026

FIRST QUARTER 2026 RESULTS

FIRST QUARTER ENDED

2026 2025

(in thousands, except per share amounts) AMOUNT PER SHARE AMOUNT PER SHARE

GAAP Net loss $(56) $(0.00) $(44,873) $(0.13)

NAREIT FFO, diluted $123,698 $0.35 $123,774 $0.35

Normalized FFO, diluted $144,382 $0.41 $137,722 $0.39

LEASING ACTIVITY

During the first quarter, the Company executed 291 new and renewal leases for 2.0 million square feet with a weighted average lease term of 7.7 years and average annual escalators of 3.1%. Key highlights include:

•Atlanta, GA. 176,000 square feet of new and renewal leases with Wellstar Health System, maintaining greater than 90% occupancy across six on-campus MOBs

•Charlotte, NC. Renewed 153,600 square feet with Advocate Health across five buildings that are 93% occupied

•Charleston, SC. Renewed 54,600 square feet with MUSC Health across two buildings that are 100% occupied

•Albany, NY. Executed two new leases with St. Peter's Health for clinic space and an ASC totaling 63,500 square feet in a redevelopment project

•Various. Renewed approximately 736,000 square feet at eight single-tenant properties with a weighted average remaining lease term of less than three years; on average, extended the leases by nearly 10 years with strong cash leasing spreads

HEALTHCARE REALTY TRUST INCORPORATED

HEALTHCAREREALTY.COM | PAGE 1 OF 7

CAPITAL ALLOCATION

Acquisitions and Dispositions

During the first quarter, the Company completed approximately $125 million of transaction activity. Key highlights include:

•Birmingham, AL. Acquired a state-of-the-art MOB attached to a market-leading hospital with an existing joint venture partner for $89 million ($18 million investment at share). The Company now owns two properties at this hospital campus and nearly 650,000 square feet in the market

•Oklahoma City, OK. Opportunistically disposed of two assets for $12 million in a direct sale to the affiliated health system

Development and Redevelopment

During the first quarter, the Company added two new redevelopment projects ($31 million), completed one redevelopment project, and made significant progress on its development and redevelopment pipeline, advancing several key projects across major markets. Key highlights include:

•Charlotte, NC. Completed redevelopment of two MOBs in a rapidly growing market adjacent to the Novant Health Huntersville Medical Center. The $35 million project is 98% leased by a mix of hospital and physician practices including cardiology, oncology, women's health, dermatology and imaging

•Boston, MA. Commenced a 155,000 square foot redevelopment connected to Tufts Medical Center in downtown Boston. The $25 million project will modernize the fully leased property and provide a space for Tufts Medicine to deliver world-class healthcare

Balance Sheet

•Net Debt to Adjusted EBITDA of 5.5x. As of March 31, 2026, the Company had approximately $1.2 billion of liquidity on the revolving facility and cash on hand

•In the first quarter, the Company repurchased 5.7 million shares of common stock at an average price of $17.38 per share for a total of $100 million

•On February 12, 2026, Healthcare Realty established its inaugural commercial paper program, with a total size of up to $600 million. At the end of the first quarter, the Company had $251 million outstanding at a weighted average interest rate of 4.2%, representing over 30bps savings compared to our drawn revolving facility rate

•Extended $400 million swaps to January 2029 at a fixed SOFR rate of 3.3%

•The Company has received $400 million of commitments from its existing Bank Group for a new unsecured delayed draw term loan that is expected to close in May 2026. The Company will have the ability to draw the proceeds at any time over the 12-month period post-closing

BOARD REFRESHMENT

As part of the Company’s ongoing Board Refreshment initiatives, longtime director Jay Leupp announced he will retire following our upcoming Annual Meeting of Shareholders on May 19, 2026. “On behalf of the entire company and our shareholders, I would like to thank Jay for his tireless commitment and leadership for our organization since 2020,” commented Peter Scott, CEO. Added Jay Leupp, “As the longest tenured independent director at Healthcare Realty and a firm believer in continuing Board refreshment, I decided to retire from the Board of Directors at the conclusion of my seventh term. I would like to thank Healthcare Realty shareholders for giving me the opportunity to serve as an independent director, and I plan to remain a fellow shareholder in the years ahead. I wish the very best to our talented CEO, management team and best-in-class Board of Directors in their continued drive to grow shareholder value.”

DIVIDEND

The Board unanimously approved a common stock dividend in the amount of $0.24 per share to be paid on May 22, 2026, to Class A common stockholders of record on May 11, 2026. Additionally, the eligible holders of operating partnership units will receive a distribution of $0.24 per unit, equivalent to the Company's Class A common stock dividend.

HEALTHCARE REALTY TRUST INCORPORATED

HEALTHCAREREALTY.COM | PAGE 2 OF 7

GUIDANCE

The Company's increased 2026 per share estimated guidance ranges are as follows:

2026 GUIDANCE

ACTUAL PRIOR CURRENT

1Q 2026 LOW HIGH LOW HIGH

Earnings per share $(0.00) $(0.05) $0.05 $(0.05) $0.05

NAREIT FFO per share $0.35 $1.44 $1.50 $1.45 $1.51

Normalized FFO per share $0.41 $1.58 $1.64 $1.59 $1.65

Same Store Cash NOI growth 6.9  % 3.5 % 4.5 % 3.75 % 4.75 %

The 2026 annual guidance range reflects the Company's view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels, interest rates, and operating and general and administrative expenses. The Company's guidance does not contemplate impacts from gains or losses from dispositions, potential impairments, or debt extinguishment costs, if any. The Company's guidance also does not include any future acquisitions, developments or share issuances or repurchases, other than as discussed in the detailed guidance assumptions on Page 11 of the 1Q 2026 Supplemental. There can be no assurance that the Company's actual results will not be materially higher or lower than these expectations. If actual results or timing vary from these assumptions, the Company's expectations may change. See Page 11 of the 1Q 2026 Supplemental for additional details and assumptions.

EARNINGS CALL

On Friday, May 1, 2026, at 9:00 a.m. Eastern Time, Healthcare Realty Trust has scheduled a conference call to discuss earnings results, quarterly activities, general operations of the Company and industry trends.

Simultaneously, a webcast of the conference call will be available to interested parties at https://investors.healthcarerealty.com/corporate-profile/webcasts under the Investor Relations section. A webcast replay will be available following the call at the same address.

Live Conference Call Access Details:

•Domestic Dial-In Number: +1 800-715-9871 access code 4950066

•All Other Locations: +1 646-307-1963 access code 4950066

Replay Information:

•Domestic Dial-In Number: +1 800-770-2030 access code 4950066

•All Other Locations: +1 609-800-9909 access code 4950066

ABOUT HEALTHCARE REALTY

Healthcare Realty Trust Incorporated (NYSE: HR) is the largest public, pure-play owner, operator and developer of medical outpatient buildings in the United States.

For additional information contact InvestorRelations@healthcarerealty.com.

Additional information regarding the Company, including this quarter's operations, can be found at www.healthcarerealty.com. In addition to the historical information contained within, this press release contains certain forward-looking statements with respect to the Company. Forward-looking statements include all statements that do not relate solely to historical or current facts and can be identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “target,” “intend,” “plan,” “estimate,” “project,” “continue,” “should,” “could," "budget" and other comparable terms. These forward-looking statements are based on the Company's current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Such risks and uncertainties include, among other things, the following: the Company’s expected results may not be achieved; risks related to future opportunities and plans for the Company, including the uncertainty of expected future financial performance and results of the Company; pandemics or other health crises; increases in interest rates; the availability and cost of capital at expected rates; competition for quality assets; negative developments in the operating results or financial condition of the Company's tenants, including, but not limited to, their ability to pay rent; the Company's ability to reposition or sell facilities with profitable results; the Company's ability to release space at similar rates as vacancies occur; the Company's ability to renew expiring leases; government regulations affecting tenants' Medicare and Medicaid reimbursement rates and operational requirements; unanticipated difficulties and/or expenditures relating to future acquisitions and developments; changes in rules or practices governing the Company's financial reporting; the Company may be required under purchase options to sell properties and may not be able to reinvest the proceeds from such sales at rates of return equal to the return received on the properties sold; uninsured or underinsured losses related to casualty or liability; the incurrence of impairment charges on its real estate properties or other assets; other legal and operational matters; and other risks and uncertainties affecting the Company, including those described from time to time under the caption “Risk Factors” and elsewhere in the Company’s filings and reports with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law. Stockholders and investors are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in the Company’s filings and reports, including, without limitation, estimates and projections regarding the performance of development projects the Company is pursuing. For a detailed discussion of the Company’s risk factors, please refer to the Company's filings with the SEC, including this report and the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

HEALTHCARE REALTY TRUST INCORPORATED

HEALTHCAREREALTY.COM | PAGE 3 OF 7

Balance Sheet

AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA

ASSETS

1Q 2026 4Q 2025

Real estate properties

Land $1,060,296  $1,060,254

Buildings and improvements 8,541,368  8,514,165

Lease intangibles 424,502  455,254

Personal property 7,316  7,056

Investment in financing receivables, net 122,346  123,249

Financing lease right-of-use assets 74,703  75,083

Land held for development 57,799  57,535

Total real estate investments 10,288,330  10,292,596

Less accumulated depreciation and amortization (2,468,461) (2,397,795)

Total real estate investments, net 7,819,869  7,894,801

Cash and cash equivalents 26,235  26,172

Assets held for sale, net 123,411  143,580

Operating lease right-of-use assets 202,710  204,906

Investments in unconsolidated joint ventures 467,459  453,607

Other assets, net 508,480  487,795

Total assets $9,148,164  $9,210,861

LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY

Liabilities

Notes and bonds payable $4,103,918  $3,911,423

Accounts payable and accrued liabilities 137,712  211,071

Liabilities of properties held for sale 13,576  15,160

Operating lease liabilities 162,380  162,922

Financing lease liabilities 73,679  73,130

Other liabilities 159,888  160,530

Total liabilities 4,651,153  4,534,236

Redeemable non-controlling interests 3,339  3,252

Stockholders' equity

Preferred stock, $0.01 par value; 200,000 shares authorized —  —

Common stock, $0.01 par value; 1,000,000 shares authorized 3,465  3,516

Additional paid-in capital 9,040,690  9,137,257

Accumulated other comprehensive (loss) income (2,421) (5,174)

Cumulative net income attributable to common stockholders 128,182  128,238

Cumulative dividends (4,730,746) (4,646,944)

Total stockholders' equity 4,439,170  4,616,893

Non-controlling interest 54,502  56,480

Total equity 4,493,672  4,673,373

Total liabilities, redeemable non-controlling interests, and stockholders' equity $9,148,164  $9,210,861

HEALTHCARE REALTY TRUST INCORPORATED

HEALTHCAREREALTY.COM | PAGE 4 OF 7

Income Statements

AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA

FIRST QUARTER ENDED FULL YEAR

2026 2025 2025

Revenues

Rental income $267,575 $288,857 $1,138,056

Interest income 3,712 3,731 14,275

Other operating 7,703 6,389 28,215

Total revenues 278,990 298,977 1,180,546

Expenses

Property operating 100,058 109,897 424,855

General and administrative 17,343 13,530 72,569

Normalizing items 1

(7,562) (502) (26,318)

Normalized general and administrative 9,781 13,028 46,251

Transaction costs 937 1,011 2,029

Depreciation and amortization 128,985 156,035 588,186

Total expenses 247,323 280,473 1,087,639

Other income (expense)

Interest expense before merger-related fair value (32,899) (44,366) (166,396)

Merger-related fair value adjustment (10,991) (10,446) (42,593)

Interest expense (43,890) (54,812) (208,989)

Gain on sales of real estate properties and other assets 10,777 2,904 235,389

Loss on extinguishment of debt (21) — (451)

Impairment of real estate assets and credit loss recoveries (reserves) 984 (12,081) (364,598)

Equity income (loss) from unconsolidated joint ventures 496 1 (188)

Interest and other income (expense), net 8 95 (3,555)

Total other income (expense) (31,646) (63,893) (342,392)

Net income (loss) $21 $(45,389) $(249,485)

Net (income) loss attributable to non-controlling interests (77) 516 3,414

Net loss attributable to common stockholders $(56) $(44,873) $(246,071)

Basic earnings per common share $(0.00) $(0.13) $(0.71)

Diluted earnings per common share $(0.00) $(0.13) $(0.71)

Weighted average common shares outstanding - basic 347,439 349,539 349,798

Weighted average common shares outstanding - diluted 2

347,439 349,539 349,798

1Normalizing items primarily include restructuring, severance-related costs and other.

2Potential common shares are not included in the computation of diluted earnings per share when a loss exists (or when dividends paid are greater than income), as the effect would be an antidilutive per share amount. As a result, the outstanding limited partnership units in the Company's operating partnership ("OP"), totaling 4,278,028 units were not included.

HEALTHCARE REALTY TRUST INCORPORATED

HEALTHCAREREALTY.COM | PAGE 5 OF 7

FFO, Normalized FFO and FAD

AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA

FIRST QUARTER ENDED FULL YEAR

2026 2025 2025

Net loss attributable to common stockholders $(56) $(44,873) $(246,071)

Net loss attributable to common stockholders/diluted share $(0.00) $(0.13) $(0.71)

Gain on sales of real estate assets (10,777) (2,904) (235,389)

Impairments of real estate assets 16  10,145  361,090

Real estate depreciation and amortization 127,921  155,288  586,146

Non-controlling loss from operating partnership units (10) (599) (3,497)

Unconsolidated JV depreciation, amortization and impairment 6,604 6,717 27,769

NAREIT FFO $123,698 $123,774 $490,048

NAREIT FFO per common share - diluted $0.35 $0.35 $1.38

Transaction costs 937 1,011 2,029

Debt financing costs 116 — 5,107

Restructuring and severance-related charges 7,562 502 26,318

Merger-related fair value adjustment 10,991 10,446 42,593

Other 1,078 1,989 2,851

Normalized FFO

$144,382 $137,722 $568,946

Normalized FFO per common share - diluted $0.41 $0.39 $1.61

Non-real estate depreciation and amortization 663 1,269 6,114

Non-cash interest amortization, net 1,367 1,217 5,126

Straight-line amortization, net (10,291) (7,891) (29,392)

Stock-based compensation 3,927 3,028 13,609

Unconsolidated JV non-cash items (89) (253) (1,420)

Other — 94 952

Maintenance capex (27,101) (32,966) (115,633)

FAD $112,858 $102,220 $448,302

Quarterly dividends and OP distributions $84,814 $109,840 $391,368

FFO wtd avg common shares outstanding - diluted 1

352,211 353,522 354,454

1The Company utilizes the treasury stock method, which includes the dilutive effect of nonvested share-based awards outstanding of 493,403 for the three months ended March 31, 2026. Also includes the diluted impact of 4,278,028 OP units outstanding.

HEALTHCARE REALTY TRUST INCORPORATED

HEALTHCAREREALTY.COM | PAGE 6 OF 7

Non-GAAP Measures

Management considers funds from operations ("FFO"), FFO per share, normalized FFO, normalized FFO per share, and funds available for distribution ("FAD") to be useful non-GAAP measures of the Company's operating performance. A non-GAAP financial measure is generally defined as one that purports to measure historical financial performance, financial position or cash flows, but excludes or includes amounts that would not be so adjusted in the most comparable measure determined in accordance with GAAP. Set forth below are descriptions of the non-GAAP financial measures management considers relevant to the Company's business and useful to investors.

The non-GAAP financial measures presented herein are not necessarily identical to those presented by other real estate companies due to the fact that not all real estate companies use the same definitions. These measures should not be considered as alternatives to net income (determined in accordance with GAAP), as indicators of the Company's financial performance, or as alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of the Company's liquidity, nor are these measures necessarily indicative of sufficient cash flow to fund all of the Company's needs.

FFO and FFO per share are operating performance measures adopted by the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”). NAREIT defines FFO as “net income (computed in accordance with GAAP) excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity.” The Company defines Normalized FFO as FFO excluding acquisition-related expenses and other normalizing items that are unusual and infrequent in nature. FAD is presented by adding to Normalized FFO non-real estate depreciation and amortization, deferred financing fees amortization, and share-based compensation expense; and subtracting maintenance capital expenditures, including second generation tenant improvements and leasing commissions paid and straight-line rent income, net of expense. The Company's definition of these terms may not be comparable to that of other real estate companies as they may have different methodologies for computing these amounts. FFO, Normalized FFO and FAD do not represent cash generated from operating activities determined in accordance with GAAP and are not necessarily indicative of cash available to fund cash needs. FFO, Normalized FFO and FAD should not be considered an alternative to net income as an indicator of the Company’s operating performance or as an alternative to cash flow as a measure of liquidity. FFO, Normalized FFO and FAD should be reviewed in connection with GAAP financial measures.

Management believes FFO, FFO per share, Normalized FFO, Normalized FFO per share, and FAD provide an understanding of the operating performance of the Company’s properties without giving effect to certain significant non-cash items, including depreciation and amortization expense. Historical cost accounting for real estate assets in accordance with GAAP assumes that the value of real estate assets diminishes predictably over time. However, real estate values instead have historically risen or fallen with market conditions. The Company believes that by excluding the effect of depreciation, amortization, gains or losses from sales of real estate, and other normalizing items that are unusual and infrequent, FFO, FFO per share, Normalized FFO, Normalized FFO per share and FAD can facilitate comparisons of operating performance between periods. The Company reports these measures because they have been observed by management to be the predominant measures used by the REIT industry and by industry analysts to evaluate REITs and because these measures are consistently reported, discussed, and compared by research analysts in their notes and publications about REITs.

Cash NOI and Same Store Cash NOI are key performance indicators. Management considers these to be supplemental measures that allow investors, analysts and Company management to measure unlevered property-level operating results. The Company defines Cash NOI as rental income plus interest from financing receivables less property operating expenses. Cash NOI excludes non-cash items such as above and below market lease intangibles, straight-line rent, lease inducements, lease termination fees, financing receivable amortization, tenant improvement amortization and leasing commission amortization. Cash NOI is historical and not necessarily indicative of future results.

Same Store Cash NOI compares Cash NOI for stabilized properties. Stabilized properties are properties that have been included in operations for the duration of the year-over-year comparison period presented. Accordingly, stabilized properties exclude properties that were recently acquired or disposed of, properties classified as held for sale, properties undergoing redevelopment, and newly redeveloped or developed properties.

The Company utilizes the redevelopment classification for properties where management has approved a change in strategic direction through the application of additional resources, including an amount of capital expenditures significantly above routine maintenance and capital improvement expenditures.

Any recently acquired property will be included in the same store pool once the Company has owned the property for five full quarters. Newly developed or redeveloped properties will be included in the same store pool five full quarters after substantial completion.

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EX-99.2

EX-99.2

Filename: exhibit992supplementalinfo.htm · Sequence: 3

Document

1Q 2026

Supplemental Information

FURNISHED AS OF APRIL 30, 2026 (UNAUDITED)

Table of Contents

FORWARD LOOKING STATEMENTS & RISK FACTORS

This Supplemental Information report contains disclosures that are “forward-looking statements.” Forward-looking statements include all statements that do not relate solely to historical or current facts and can be identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “target,” “intend,” “plan,” “estimate,” “project,” “continue,” “should,” “could," "budget" and other comparable terms. These forward-looking statements are based on the Company's current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Such risks and uncertainties include, among other things, the following: the Company’s expected results may not be achieved; risks related to future opportunities and plans for the Company, including the uncertainty of expected future financial performance and results of the Company; pandemics or other health crises; increases in interest rates; the availability and cost of capital at expected rates; competition for quality assets; negative developments in the operating results or financial condition of the Company's tenants, including, but not limited to, their ability to pay rent; the Company's ability to reposition or sell facilities with profitable results; the Company's ability to release space at similar rates as vacancies occur; the Company's ability to renew expiring leases; government regulations affecting tenants' Medicare and Medicaid reimbursement rates and operational requirements; unanticipated difficulties and/or expenditures relating to future acquisitions and developments; changes in rules or practices governing the Company's financial reporting; the Company may be required under purchase options to sell properties and may not be able to reinvest the proceeds from such sales at rates of return equal to the return received on the properties sold; uninsured or underinsured losses related to casualty or liability; the incurrence of impairment charges on its real estate properties or other assets; other legal and operational matters; and other risks and uncertainties affecting the Company, including those described from time to time under the caption “Risk Factors” and elsewhere in the Company’s filings and reports with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law. Stockholders and investors are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in the Company’s filings and reports, including, without limitation, estimates and projections regarding the performance of development projects the Company is pursuing. For a detailed discussion of the Company’s risk factors, please refer to the Company's filings with the SEC, including this report and the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

See the Glossary herein for further information regarding definitions and important discussions regarding the usefulness and limitations of the non-GAAP measures used in this Supplemental Report.

1Q EARNINGS RELEASE

3

Earnings Highlights

7

Financial Statements

9

FFO, Normalized FFO, & FAD

SUPPLEMENTAL INFORMATION

10

At a Glance

11

2026 Guidance

12

Portfolio Overview

13

Lease Maturity Schedule

14

Tenant Overview

15

Same Store Statistics

16

Capital Funding & Commitments

17

Investment Activity/Joint Ventures

18

Re/development Activity

19

Debt Metrics

20

Components of Net Asset Value

21

Glossary and Reconciliations

HEALTHCARE REALTY

1Q 2026 SUPPLEMENTAL INFORMATION 2

Earnings Highlights

HEALTHCARE REALTY REPORTS FIRST QUARTER 2026 RESULTS AND INCREASES FULL YEAR 2026 GUIDANCE

NASHVILLE, Tennessee, April 30, 2026. Healthcare Realty Trust Incorporated (NYSE:HR) today announced results for the first quarter ended March 31, 2026. In addition, the Company announced an increased 2026 Normalized FFO guidance range of $1.59 to $1.65 per share (diluted), a $0.01 increase at the midpoint, and an increased Same Store Cash NOI growth guidance range of 3.75% to 4.75% (+25bps increase).

FIRST QUARTER 2026 HIGHLIGHTS

•GAAP Net loss of $(0.00) per share, NAREIT FFO of $0.35 per share, Normalized FFO of $0.41 per share, and FAD of $112.9 million (payout ratio of 75%)

•Same store cash NOI growth of +6.9%, tenant retention of 93.5% and +4.2% cash leasing spreads

•First quarter lease executions totaled 2.0 million square feet across same store properties and redevelopment projects, including 286,000 square feet of new lease executions

•During the first quarter, the Company completed total transactions of approximately $125 million, including the first new acquisition in the KKR joint venture since formation for $89 million ($18 million at the Company's pro rata share) and dispositions of $33 million

•Net Debt to Adjusted EBITDA of 5.5x adjusted for expected mortgage note receivable repayment in the second quarter

•Repurchased 5.7 million shares of common stock at an average price of $17.38 per share for a total of $100 million

•Received $400 million commitments from existing Bank Group for a new unsecured delayed draw term loan expected to close in May 2026; the Company will have the ability to draw the proceeds at any time over the 12-month period post-closing

•As part of ongoing Board Refreshment initiatives, longtime director Jay Leupp announced he will retire following our upcoming Annual Meeting of Shareholders on May 19, 2026

FIRST QUARTER 2026 RESULTS

FIRST QUARTER ENDED

2026 2025

(in thousands, except per share amounts) AMOUNT PER SHARE AMOUNT PER SHARE

GAAP Net loss $(56) $(0.00) $(44,873) $(0.13)

NAREIT FFO, diluted $123,698 $0.35 $123,774 $0.35

Normalized FFO, diluted $144,382 $0.41 $137,722 $0.39

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 3

Earnings Highlights

LEASING ACTIVITY

During the first quarter, the Company executed 291 new and renewal leases for 2.0 million square feet with a weighted average lease term of 7.7 years and average annual escalators of 3.1%. Key highlights include:

•Atlanta, GA. 176,000 square feet of new and renewal leases with Wellstar Health System, maintaining greater than 90% occupancy across six on-campus MOBs

•Charlotte, NC. Renewed 153,600 square feet with Advocate Health across five buildings that are 93% occupied

•Charleston, SC. Renewed 54,600 square feet with MUSC Health across two buildings that are 100% occupied

•Albany, NY. Executed two new leases with St. Peter's Health for clinic space and an ASC totaling 63,500 square feet in a redevelopment project

•Various. Renewed approximately 736,000 square feet at eight single-tenant properties with a weighted average remaining lease term of less than three years; on average, extended the leases by nearly 10 years with strong cash leasing spreads

CAPITAL ALLOCATION

Acquisitions and Dispositions

During the first quarter, the Company completed approximately $125 million of transaction activity. Key highlights include:

•Birmingham, AL. Acquired a state-of-the-art MOB attached to a market-leading hospital with an existing joint venture partner for $89 million ($18 million investment at share). The Company now owns two properties at this hospital campus and nearly 650,000 square feet in the market

•Oklahoma City, OK. Opportunistically disposed of two assets for $12 million in a direct sale to the affiliated health system

Development and Redevelopment

During the first quarter, the Company added two new redevelopment projects ($31 million), completed one redevelopment project, and made significant progress on its development and redevelopment pipeline, advancing several key projects across major markets. Key highlights include:

•Charlotte, NC. Completed redevelopment of two MOBs in a rapidly growing market adjacent to the Novant Health Huntersville Medical Center. The $35 million project is 98% leased by a mix of hospital and physician practices including cardiology, oncology, women's health, dermatology and imaging

•Boston, MA. Commenced a 155,000 square foot redevelopment connected to Tufts Medical Center in downtown Boston. The $25 million project will modernize the fully leased property and provide a space for Tufts Medicine to deliver world-class healthcare

Balance Sheet

•Net Debt to Adjusted EBITDA of 5.5x. As of March 31, 2026, the Company had approximately $1.2 billion of liquidity on the revolving facility and cash on hand

•In the first quarter, the Company repurchased 5.7 million shares of common stock at an average price of $17.38 per share for a total of $100 million

•On February 12, 2026, Healthcare Realty established its inaugural commercial paper program, with a total size of up to $600 million. At the end of the first quarter, the Company had $251 million outstanding at a weighted average interest rate of 4.2%, representing over 30bps savings compared to our drawn revolving facility rate

•Extended $400 million swaps to January 2029 at a fixed SOFR rate of 3.3%

•The Company has received $400 million of commitments from its existing Bank Group for a new unsecured delayed draw term loan that is expected to close in May 2026. The Company will have the ability to draw the proceeds at any time over the 12-month period post-closing

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 4

Earnings Highlights

BOARD REFRESHMENT

As part of the Company’s ongoing Board Refreshment initiatives, longtime director Jay Leupp announced he will retire following our upcoming Annual Meeting of Shareholders on May 19, 2026. “On behalf of the entire company and our shareholders, I would like to thank Jay for his tireless commitment and leadership for our organization since 2020,” commented Peter Scott, CEO. Added Jay Leupp, “As the longest tenured independent director at Healthcare Realty and a firm believer in continuing Board refreshment, I decided to retire from the Board of Directors at the conclusion of my seventh term. I would like to thank Healthcare Realty shareholders for giving me the opportunity to serve as an independent director, and I plan to remain a fellow shareholder in the years ahead. I wish the very best to our talented CEO, management team and best-in-class Board of Directors in their continued drive to grow shareholder value.”

DIVIDEND

The Board unanimously approved a common stock dividend in the amount of $0.24 per share to be paid on May 22, 2026, to Class A common stockholders of record on May 11, 2026. Additionally, the eligible holders of operating partnership units will receive a distribution of $0.24 per unit, equivalent to the Company's Class A common stock dividend.

GUIDANCE

The Company's increased 2026 per share estimated guidance ranges are as follows:

2026 GUIDANCE

ACTUAL PRIOR CURRENT

1Q 2026 LOW HIGH LOW HIGH

Earnings per share $(0.00) $(0.05) $0.05 $(0.05) $0.05

NAREIT FFO per share $0.35 $1.44 $1.50 $1.45 $1.51

Normalized FFO per share $0.41 $1.58 $1.64 $1.59 $1.65

Same Store Cash NOI growth 6.9 % 3.5 % 4.5 % 3.75  % 4.75  %

The 2026 annual guidance range reflects the Company's view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels, interest rates, and operating and general and administrative expenses. The Company's guidance does not contemplate impacts from gains or losses from dispositions, potential impairments, or debt extinguishment costs, if any. The Company's guidance also does not include any future acquisitions, developments or share issuances or repurchases, other than as discussed in the detailed guidance assumptions on Page 11 of the 1Q 2026 Supplemental. There can be no assurance that the Company's actual results will not be materially higher or lower than these expectations. If actual results or timing vary from these assumptions, the Company's expectations may change. See Page 11 of the 1Q 2026 Supplemental for additional details and assumptions.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 5

Earnings Highlights

EARNINGS CALL

On Friday, May 1, 2026, at 9:00 a.m. Eastern Time, Healthcare Realty Trust has scheduled a conference call to discuss earnings results, quarterly activities, general operations of the Company and industry trends.

Simultaneously, a webcast of the conference call will be available to interested parties at https://investors.healthcarerealty.com/corporate-profile/webcasts under the Investor Relations section. A webcast replay will be available following the call at the same address.

Live Conference Call Access Details:

•Domestic Dial-In Number: +1 800-715-9871 access code 4950066

•All Other Locations: +1 646-307-1963 access code 4950066

Replay Information:

•Domestic Dial-In Number: +1 800-770-2030 access code 4950066

•All Other Locations: +1 609-800-9909 access code 4950066

ABOUT HEALTHCARE REALTY

Healthcare Realty Trust Incorporated (NYSE: HR) is the largest public, pure-play owner, operator and developer of medical outpatient buildings in the United States.

For additional information contact InvestorRelations@healthcarerealty.com.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 6

Balance Sheet

AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA

ASSETS

1Q 2026 4Q 2025

Real estate properties

Land $1,060,296  $1,060,254

Buildings and improvements 8,541,368  8,514,165

Lease intangibles 424,502  455,254

Personal property 7,316  7,056

Investment in financing receivables, net 122,346  123,249

Financing lease right-of-use assets 74,703  75,083

Land held for development 57,799  57,535

Total real estate investments 10,288,330  10,292,596

Less accumulated depreciation and amortization (2,468,461) (2,397,795)

Total real estate investments, net 7,819,869  7,894,801

Cash and cash equivalents 26,235  26,172

Assets held for sale, net 123,411  143,580

Operating lease right-of-use assets 202,710  204,906

Investments in unconsolidated joint ventures 467,459  453,607

Other assets, net 508,480  487,795

Total assets $9,148,164  $9,210,861

LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY

Liabilities

Notes and bonds payable $4,103,918  $3,911,423

Accounts payable and accrued liabilities 137,712  211,071

Liabilities of properties held for sale 13,576  15,160

Operating lease liabilities 162,380  162,922

Financing lease liabilities 73,679  73,130

Other liabilities 159,888  160,530

Total liabilities 4,651,153  4,534,236

Redeemable non-controlling interests 3,339  3,252

Stockholders' equity

Preferred stock, $0.01 par value; 200,000 shares authorized —  —

Common stock, $0.01 par value; 1,000,000 shares authorized 3,465  3,516

Additional paid-in capital 9,040,690  9,137,257

Accumulated other comprehensive loss (2,421) (5,174)

Cumulative net income attributable to common stockholders 128,182  128,238

Cumulative dividends (4,730,746) (4,646,944)

Total stockholders' equity 4,439,170  4,616,893

Non-controlling interest 54,502  56,480

Total equity 4,493,672  4,673,373

Total liabilities, redeemable non-controlling interests, and stockholders' equity $9,148,164  $9,210,861

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 7

Income Statements

AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA

FIRST QUARTER ENDED FULL YEAR

2026 2025 2025

Revenues

Rental income $267,575 $288,857 $1,138,056

Interest income 3,712 3,731 14,275

Other operating 7,703 6,389 28,215

Total revenues 278,990 298,977 1,180,546

Expenses

Property operating 100,058 109,897 424,855

General and administrative 17,343 13,530 72,569

Normalizing items 1

(7,562) (502) (26,318)

Normalized general and administrative 9,781 13,028 46,251

Transaction costs 937 1,011 2,029

Depreciation and amortization 128,985 156,035 588,186

Total expenses 247,323 280,473 1,087,639

Other income (expense)

Interest expense before merger-related fair value (32,899) (44,366) (166,396)

Merger-related fair value adjustment (10,991) (10,446) (42,593)

Interest expense (43,890) (54,812) (208,989)

Gain on sales of real estate properties and other assets 10,777 2,904 235,389

Loss on extinguishment of debt (21) — (451)

Impairment of real estate assets and credit loss recoveries (reserves) 984 (12,081) (364,598)

Equity income (loss) from unconsolidated joint ventures 496 1 (188)

Interest and other income (expense), net 8 95 (3,555)

Total other income (expense) (31,646) (63,893) (342,392)

Net income (loss) $21 $(45,389) $(249,485)

Net (income) loss attributable to non-controlling interests (77) 516 3,414

Net loss attributable to common stockholders $(56) $(44,873) $(246,071)

Basic earnings per common share $(0.00) $(0.13) $(0.71)

Diluted earnings per common share $(0.00) $(0.13) $(0.71)

Weighted average common shares outstanding - basic 347,439 349,539 349,798

Weighted average common shares outstanding - diluted 2

347,439 349,539 349,798

1Normalizing items primarily include restructuring, severance-related costs and other.

2Potential common shares are not included in the computation of diluted earnings per share when a loss exists (or when dividends paid are greater than income), as the effect would be an antidilutive per share amount. As a result, the outstanding limited partnership units in the Company's operating partnership ("OP"), totaling 4,278,028 units were not included.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 8

FFO, Normalized FFO, & FAD

AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA

FIRST QUARTER ENDED FULL YEAR

2026 2025 2025

Net loss attributable to common stockholders $(56) $(44,873) $(246,071)

Net loss attributable to common stockholders per diluted share $(0.00) $(0.13) $(0.71)

Gain on sales of real estate assets (10,777) (2,904) (235,389)

Impairments of real estate assets 16  10,145  361,090

Real estate depreciation and amortization 127,921  155,288  586,146

Non-controlling loss from operating partnership units (10) (599) (3,497)

Unconsolidated JV depreciation, amortization and impairment 6,604 6,717 27,769

NAREIT FFO $123,698 $123,774 $490,048

NAREIT FFO per common share - diluted $0.35 $0.35 $1.38

Transaction costs 937 1,011 2,029

Debt financing costs 116 — 5,107

Restructuring and severance-related charges 7,562 502 26,318

Merger-related fair value adjustment 10,991 10,446 42,593

Other 1,078 1,989 2,851

Normalized FFO

$144,382 $137,722 $568,946

Normalized FFO per common share - diluted $0.41 $0.39 $1.61

Non-real estate depreciation and amortization 663 1,269 6,114

Non-cash interest amortization, net 1,367 1,217 5,126

Straight-line amortization, net (10,291) (7,891) (29,392)

Stock-based compensation 3,927 3,028 13,609

Unconsolidated JV non-cash items (89) (253) (1,420)

Other — 94 952

Maintenance capex (27,101) (32,966) (115,633)

FAD $112,858 $102,220 $448,302

Quarterly dividends and OP distributions $84,814 $109,840 $391,368

FFO wtd avg common shares outstanding - diluted 1

352,211 353,522 354,454

1The Company utilizes the treasury stock method, which includes the dilutive effect of nonvested share-based awards outstanding of 493,403 for the three months ended March 31, 2026. Also includes the diluted impact of 4,278,028 OP units outstanding.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 9

At a Glance

DOLLARS AND SHARES IN THOUSANDS, EXCEPT PER SHARE DATA

PROPERTIES

Total Properties 563

Total Square Feet (in millions) 32.9

Number of markets 50

% of Cash NOI in Top 20 Markets 77  %

KEY CREDIT METRICS (SENIOR UNSECURED DEBT)

Moody's Baa2

S&P Global BBB

Net Debt to Adjusted EBITDA 5.5x

Net Debt to Enterprise Value 41  %

TOTAL CAPITALIZATION AS OF MARCH 31, 2026

Common Stock (NYSE: HR) 346,534

OP Units 4,251

Fully Diluted Shares and Units 350,785

Share Price as of 3/31/2026 $16.99

Market Capitalization $5,959,837

Consolidated Net Debt $4,077,683

Share of Unconsolidated JV Net Debt $34,031

Enterprise Value $10,071,551

All figures represent Total Properties. See Glossary for additional information on terms and definitions.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 10

2026 Guidance

DOLLARS AND SHARES IN MILLIONS, EXCEPT PER SHARE DATA

2026 EARNINGS GUIDANCE PRIOR CURRENT

LOW HIGH LOW HIGH

Earnings per share $(0.05) $0.05 $(0.05) $0.05

NAREIT FFO per share $1.44 $1.50 $1.45 $1.51

Normalized FFO per share

$1.58 $1.64 $1.59 $1.65

Same store cash NOI growth 3.5 % 4.5 % 3.75  % 4.75  %

KEY ASSUMPTIONS PRIOR CURRENT

LOW HIGH LOW HIGH

Normalized general and administrative $43 $47 $43 $47

Interest expense, net of capitalized interest 1

$135 $145 $135 $145

Total maintenance capex $105 $125 $105 $125

SOURCES AND USES 2

PRIOR CURRENT

MIDPOINT MIDPOINT

Asset sales and loan receivable repayments $175 $175

Debt issuance and RCF/CP Drawdowns 600 675

FAD less dividends 100 100

Total Sources $875 $950

Bond repayments $600 $600

Investments and share repurchases 3

50 125

Development, redevelopment, and 1st gen capital 225 225

Total Uses $875 $950

Target adjusted net debt to EBITDA mid-5x mid-5x

Diluted shares outstanding 4

353 351

The 2026 annual guidance range reflects the Company's view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels, interest rates, and operating and general and administrative expenses. The Company's guidance does not contemplate impacts from gains or losses from dispositions, potential impairments, or debt extinguishment costs, if any. The Company's guidance also does not include any future acquisitions, developments or share issuances or repurchases, other than as discussed above. There can be no assurance that the Company's actual results will not be materially higher or lower than these expectations. If actual results or timing vary from these assumptions, the Company's expectations may change.

1Excludes the merger-related fair value adjustment and interest expense associated with unconsolidated joint ventures.

2Based on approximate midpoints.

3Includes year-to-date investments and share repurchases.

4Includes the diluted impact of the OP units and 1Q 2026 share repurchases.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 11

Portfolio Overview

DOLLARS IN THOUSANDS

TOTAL PORTFOLIO BY MARKET

COUNT WHOLLY OWNED JOINT VENTURES TOTAL PORTFOLIO

MARKET MSA RANK TOTAL SQUARE FEET % OF TTM CASH NOI TOTAL SQUARE FEET % OF TTM CASH NOI TOTAL SQUARE FEET % OF TTM CASH NOI

Dallas, TX 4 47 2,874,187 10.0 % 581,096 16.3  % 3,455,283 10.3  %

Seattle, WA 15 29 1,324,047 7.1 % 257,121 5.9  % 1,581,168 7.1  %

Charlotte, NC 21 31 1,707,493 5.6 % — —  % 1,707,493 5.4  %

Houston, TX 5 27 1,815,173 5.4 % 249,158 3.9  % 2,064,331 5.3  %

Denver, CO 19 29 1,349,450 4.9 % 306,949 5.2  % 1,656,399 4.9  %

Los Angeles, CA 2 27 850,715 4.0 % 786,520 17.9  % 1,637,235 4.7  %

Atlanta, GA 6 25 1,231,491 4.3 % 96,108 2.5  % 1,327,599 4.2  %

Boston, MA 11 13 718,723 3.8 % — —  % 718,723 3.6  %

Phoenix, AZ 10 33 1,251,557 3.3 % 101,086 9.5  % 1,352,643 3.6  %

Raleigh, NC 41 27 978,218 3.4 % 198,485 1.7  % 1,176,703 3.4  %

Indianapolis, IN 33 37 1,057,909 2.9 % 357,915 11.2  % 1,415,824 3.3  %

Nashville, TN 35 12 1,134,891 3.0 % 106,981 2.0  % 1,241,872 2.9  %

Austin, TX 25 12 657,575 2.6 % 129,879 2.1  % 787,454 2.6  %

Washington, DC 7 9 692,107 2.7 % — —  % 692,107 2.5  %

Tampa, FL 17 17 830,843 2.6 % — —  % 830,843 2.5  %

Miami, FL 8 11 746,463 2.5 % 52,178 0.9  % 798,641 2.5  %

San Francisco, CA 13 9 449,706 2.3 % 110,865 4.7  % 560,571 2.4  %

Orlando, FL 20 7 416,475 2.1 % — —  % 416,475 2.0  %

New York, NY 1 14 557,111 2.1 % 57,411 1.2  % 614,522 2.0  %

Hartford, CT 50 25 543,128 2.0 % — —  % 543,128 1.9  %

Other (30 Markets) 122 7,439,308 23.4 % 864,936 15.0  % 8,304,244 22.9  %

Total 563 28,626,570 100.0 % 4,256,688 100.0  % 32,883,258 100.0  %

SUMMARY METRICS

WHOLLY OWNED JOINT VENTURES TOTAL PORTFOLIO

Number of properties 499 64 563

Square feet 28,626,570 4,256,688 32,883,258

% of square feet 87.1% 12.9% 100%

Investment (at share) $9,991,521 $627,938 $10,619,459

Quarterly cash NOI (at share) $159,830 $8,416 $168,246

% of quarterly cash NOI (at share) 95.0% 5.0% 100.0%

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 12

Lease Maturity Schedule

LEASE MATURITY SCHEDULE

WHOLLY-OWNED JOINT VENTURES TOTAL

# OF LEASES OCCUPIED SF % OF TOTAL # OF LEASES OCCUPIED SF % OF TOTAL OCCUPIED SF % OF TOTAL % OF TOTAL

(AT SHARE)

Month-to-month 69 143,487 0.6 % 8 23,228 0.6 % 166,715 0.6  % 0.6 %

2Q 2026 137 288,152 1.1 % 19 59,213 1.5 % 347,365 1.2  % 1.2 %

3Q 2026 170 429,946 1.7 % 19 61,901 1.6 % 491,847 1.7  % 1.7 %

4Q 2026 182 550,764 2.1 % 7 13,099 0.3 % 563,863 1.9  % 2.1 %

2026 489 1,268,862 4.9 % 45 134,213 3.5 % 1,403,075 4.7  % 5.0 %

2027 939 3,494,893 13.5 % 88 407,183 10.6 % 3,902,076 13.1  % 13.5 %

2028 903 3,183,065 12.3 % 82 272,990 7.1 % 3,456,055 11.6  % 12.2 %

2029 754 3,263,038 12.6 % 102 589,493 15.3 % 3,852,531 12.9  % 12.9 %

2030 666 3,070,436 11.9 % 74 313,412 8.1 % 3,383,848 11.4  % 11.8 %

2031 527 2,530,230 9.8 % 86 366,724 9.5 % 2,896,954 9.7  % 9.8 %

2032 335 2,115,931 8.2 % 42 366,490 9.5 % 2,482,421 8.3  % 8.2 %

2033 245 1,051,553 4.1 % 30 212,576 5.5 % 1,264,129 4.2  % 4.1 %

2034 216 1,275,185 4.9 % 43 249,639 6.5 % 1,524,824 5.1  % 4.9 %

2035 236 1,445,102 5.6 % 28 152,748 4.0 % 1,597,850 5.4  % 5.6 %

Thereafter 317 3,064,523 11.8 % 49 764,745 19.8 % 3,829,268  12.9  % 11.4 %

Total occupied 5,696 25,906,305 100.0 % 677 3,853,441 100.0 % 29,759,746 100.0  % 100.0 %

WALT (months) 62.8 75.8 64.5

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 13

Tenant Overview

TOTAL PORTFOLIO BY HEALTH SYSTEM (INCLUDING JVs)

FULL BUILDING METRICS DIRECT LEASED BY HEALTH SYSTEM

HEALTH SYSTEM

SYSTEM RANK 1

CREDIT RATING ON/ADJACENT OFF-CAMPUS AFFILIATED TOTAL SQUARE FEET # OF

BUILDINGS % OF TTM

CASH NOI SQUARE FEET % OF

LEASED SF # OF LEASES

HCA 1 BBB-/Baa2 2,049,691 769,842 2,819,533  41 7.4 % 719,427 2.4 % 126

Baylor Scott & White 21 AA-/Aa2 2,372,410 66,376 2,438,786  32 6.9 % 1,312,619 4.4 % 175

CommonSpirit 4 A-/A3 1,442,804 535,300 1,978,104  37 6.8 % 776,970 2.6 % 146

Ascension Health 3 AA/Aa3 1,601,286 97,551 1,698,837  17 4.3 % 739,512 2.5 % 105

Advocate Health 14 AA/Aa2 751,636 240,910 992,546  17 3.9 % 850,991 2.9 % 84

Wellstar Health System 75 A+/A2 918,394 — 918,394  18 3.1 % 607,612 2.0 % 81

UW Medicine (Seattle) 91 AA+/Aa1 461,363 169,709  631,072  10 2.9 % 294,971 1.0 % 32

AdventHealth 11 AA/Aa2 640,215 118,585 758,800  12 2.7 % 431,290 1.4 % 108

MultiCare Health System 82 A/-- 492,623 —  492,623  8 2.1 % 197,180 0.7 % 24

Providence Health & Services 5 A/A3 602,834 31,601  634,435  12 2.0 % 247,027 0.8 % 44

Tenet Healthcare Corporation 6 BB-/Ba3 545,035 235,399 780,434  13 1.8 % 130,632 0.4 % 21

Banner Health 24 AA-/-- 749,075 65,322  814,397  25 1.7 % 118,225 0.4 % 33

Indiana University Health 26 AA/Aa2 416,978  301,320  718,298  11 1.7 % 387,649 1.3 % 51

WakeMed 185 --/A2 374,207 101,597 475,804  13 1.7 % 138,509 0.5 % 21

Tufts Medicine 162 BBB-/Aa3 252,087 — 252,087  2 1.7 % 260,784 0.9 % 5

Baptist Memorial Health Care 89 A-2/-- 482,065 150,228 632,293  9 1.6 % 437,531 1.5 % 47

University of California Health 9 AA/Aa2 377,718 —  377,718  7 1.6 % 30,987 0.1 % 8

Novant Health 42 A+/A1 473,471 138,035  611,506  10 1.5 % 193,957 0.7 % 26

Sutter Health 12 A+/A1 175,591 96,987  272,578  4 1.4 % 110,448 0.4 % 24

MedStar Health 45 A/A2 326,129 —  326,129  4 1.3 % 205,331 0.7 % 66

Other (65 Credit Rated) 6,998,992 3,117,036 10,116,028  192  32.2 % 4,414,560 14.8 % 537

Subtotal - credit rated 22,504,604 6,235,798 28,740,402  494  90.3 % 12,606,212 42.4 % 1,764

Other non-credit rated 659,954 378,071 1,038,025  19 2.5 % 353,700 1.2 %

Off-campus non-affiliated — 3,104,831 3,104,831  50 7.2 % — — %

Total 23,164,558 9,718,700 32,883,258  563 100.0 % 12,959,912 43.6 %

1Ranked by revenue based on Modern Healthcare's Healthcare Systems Financials Database.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 14

Same Store Statistics

DOLLARS IN THOUSANDS

PORTFOLIO CASH NOI AND OCCUPANCY

OCCUPANCY %

COUNT SF 1Q 2026 CASH NOI 1Q 2026 1Q 2025 4Q 2025

Wholly-owned 471 26,101,922 $153,603 92.1 % 91.1 % 92.1 %

Joint venture 58 3,724,750 7,479  93.8 % 92.1 % 92.3 %

Same store 529 29,826,672 $161,082 92.3 % 91.2 % 92.3 %

Wholly owned and joint venture acquisitions 1 143,576 10  100.0 % — % — %

Developments 2 224,270 289 60.5 % 32.0 % 47.1 %

Development completions 2 107,247 831 89.6 % 82.1 % 89.6 %

Redevelopments 23 2,070,746 4,658 69.5 % 77.4 % 70.9 %

Redevelopment completions 6 510,747 1,376 79.9 % 71.7 % 78.5 %

Total portfolio 563 32,883,258 $168,246 90.5 % 89.8 % 90.4 %

Joint ventures 64 4,256,688 8,416  90.5 % 87.9 % 89.7 %

Total wholly-owned 499 28,626,570 $159,830 90.5 % 90.1 % 90.5 %

SAME STORE CASH NOI

FIRST QUARTER ENDED FULL YEAR

2026 2025 YoY Growth 2025

Revenues $251,639 $237,545 5.9% 4.2%

Expenses 90,557 86,864 4.3% 4.1%

Cash NOI $161,082 $150,681 6.9% 4.6%

Margin 64.0 % 63.4 % +60  bps 64.4 %

Period end occupancy 92.3 % 91.2 % +110  bps 92.1 %

Number of properties 529 529 501

SAME STORE LEASING METRICS (RENEWALS) OTHER KEY SAME STORE METRICS

1Q 2026 FY 2025 AS OF MARCH 31, 2026

Tenant retention rate 93.5 % 81.5 % Ownership type Lease structure

Ground lease 43.6 % Gross 7.0 %

Cash leasing spreads 4.2 % 3.1 % Fee simple 56.4 % Modified gross 26.9 %

Cash leasing spreads distribution Tenant type Net & Absolute Net 66.1 %

< 0% spread 13.1 % 8.3 % Hospital 51.3 %

0-3% spread 11.1 % 13.2 % Physician and other 48.7 % Escalators 2.9 %

3-5% spread 49.6 % 65.0 %

> 5% spread 26.2 % 13.5 %

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 15

Capital Funding & Commitments

DOLLARS IN THOUSANDS, EXCEPT PER SQUARE FOOT DATA

ACQUISITION AND RE/DEVELOPMENT FUNDING

FIRST QUARTER ENDED FULL YEAR

2026 2025 2025

Acquisitions 1

$17,820 $— $—

Re/development 25,105 33,436 140,859

1st generation TI/LC/Capital & acquisition capex 20,379 15,139 107,195

MAINTENANCE CAPITAL EXPENDITURES FUNDING

FIRST QUARTER ENDED FULL YEAR

2026 2025 2025

2nd generation TI $8,709 $14,885 $47,439

Leasing commissions paid 14,176 11,394 31,664

Building capital 4,216 6,687 36,531

Maintenance Capital Expenditures $27,101 $32,966 $115,634

% of Cash NOI 16.0 % 18.2 % 15.8 %

TOTAL COMPANY LEASE EXECUTIONS

FIRST QUARTER ENDED FULL YEAR

2026 2025 2025

Renewals (SF) 1,725,651 773,286 4,152,880

2nd generation TI/square foot/lease year $2.54 $2.22 $2.43

Leasing commissions/square foot/lease year $1.59 $1.56 $1.46

Renewal commitments as a % of annual net rent 13.0 % 15.3 % 15.3 %

WALT (in months) 97.0 53.7 60.8

New leases (SF) 286,314 370,318 1,579,998

2nd generation TI/square foot/lease year $8.93 $8.96 $9.08

Leasing commissions/square foot/lease year $1.99 $2.09 $2.05

New lease commitments as a % of annual net rent 46.9 % 46.6 % 47.6 %

WALT (in months) 78.5 93.7 90.8

All (SF) 2,011,965 1,143,604 5,732,878

Leasing commitments as a % of annual net rent 16.1 % 29.0 % 26.2 %

WALT (in months) 94.3 66.7 69.1

1Acquisitions include properties acquired through joint ventures at the Company's ownership percentage. Excludes acquisitions that occurred subsequent to quarter end.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 16

Investment Activity/Joint Ventures

DOLLARS IN THOUSANDS

ACQUISITION ACTIVITY DETAIL

LOCATION COUNT CLOSING SQUARE FEET OCCUPIED % ACQUISITION PRICE % OWNERSHIP PRICE AT SHARE

Acquisitions

Birmingham, AL 1 3/27/2026 143,576 100 % 89,100 20 % 17,820

1Q total 1 143,576 100 % 89,100 17,820

Charlotte, NC 1

— 4/24/2026 12,418 100 % 3,670 100 % 3,670

Total 2026 acquisition activity 1 155,994 100  % $92,770 $21,490

Acquisition Initial Cash Yield: 6.5%-7.5%

DISPOSITION ACTIVITY DETAIL

LOCATION COUNT CLOSING SQUARE FEET OCCUPIED % SALES PRICE % OWNERSHIP PRICE at SHARE

Dispositions

Atlanta, GA 1 1/14/2026 60,039 91 % $21,900 100 % $21,900

Oklahoma City, OK 2 3/3/2026 186,301 41 % 11,500 100 % 11,500

1Q total 3 246,340 53 % 33,400 33,400

Minneapolis, MN 1 4/27/2026 92,139 88 % 18,700 50 % 9,350

Total 2026 disposition activity 4 338,479 63  % $52,100 $42,750

Disposition Cash Yield: 5.0%-5.5%

JOINT VENTURE PORTFOLIOS

WA OWNERSHIP INTEREST 1Q 2026 BALANCE SHEET AS OF 3/31/2026

JOINT VENTURE # OF PROPERTIES SQUARE FEET OCCUPANCY CASH NOI CASH NOI AT SHARE SAME STORE NOI AT SHARE

REAL ESTATE INVESTMENT 2

DEBT 2

NET DEBT DEBT AT SHARE NET DEBT AT SHARE INTEREST RATE

Nuveen 43 % 26 1,386,043  88.2 % $7,929 $2,988 $2,988 $574,425 $73,933 $71,164 $14,786 $13,695 5.9 %

CBRE 20 % 4 283,880  60.8 % 1,145 229 176 134,573  —  (3,213) —  (643) —

KKR 20 % 24 1,863,133  96.9 % 13,384 2,677 2,667 834,431  —  (20,964) —  (4,193) —

Other 3

58 % 10 723,632  90.2 % 4,667 2,522 1,649 345,672  67,932  63,400 27,173 25,172 5.3 %

Total 64 4,256,688  90.5 % $27,125 $8,416 $7,480 $1,889,101 $141,865 $110,387 $41,959 $34,031 5.6 %

1Represents an additional fully leased condominium unit, by Novant Health under a long-term lease in an existing building, bringing the Company's ownership of the building to 93%.

2Represents 100% of the real estate assets and debt of the joint ventures.

3Ownership percentages are weighted based on investment.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 17

Re/development Activity

DOLLARS IN THOUSANDS

DEVELOPMENTS

MARKET ASSOCIATED HEALTH SYSTEM SQUARE

FEET CURRENT

LEASED % BUDGET COST TO COMPLETE

Raleigh, NC UNC REX Health 122,991 51 % $58,000 $9,199

Fort Worth, TX Baylor Scott & White 101,279 72 % 48,200 3,840

Total development 224,270 60 % $106,200 $13,039

Projected stabilized yield: 7.0%-8.5%

Estimated stabilization period post completion: 12 - 36 months.

REDEVELOPMENTS

MARKET COUNT SQUARE

FEET PROJECT

SQUARE FEET PROJECT

LEASED % BUDGET COST TO

COMPLETE

Houston, TX 2 314,861 152,172 38 % $30,000 $3,635

Boston, MA 1 154,528 154,528 100 % 25,300 21,062

White Plains, NY 1 65,851 44,634 85 % 24,900 726

Charlotte, NC 1 122,388 83,581 40 % 19,200 17,533

Washington, DC 1 57,323 24,034 82 % 15,200 799

Seattle, WA 1 78,288 34,916 29 % 13,600 13,440

Raleigh, NC 1 40,400 40,400 100 % 10,800 4,819

Houston, TX 1 40,214 40,214 66 % 10,400 10,232

Denver, CO 2 78,691 51,149 41 % 10,200 9,876

Port St. Lucie, FL 1 34,734 34,734 20 % 9,400 8,305

Dallas, TX 1 126,121 22,152 100 % 8,600 7,839

Denver, CO 1 55,978 28,832 53 % 7,300 6,593

Other 9 901,369 723,545 65 % 102,800 79,073

Total redevelopment 23 2,070,746 1,434,891 64  % $287,700 $183,932

Projected stabilized yield: 9.0%-12.0%

Estimated stabilization period post completion: 12 - 36 months.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 18

Debt Metrics

DOLLARS IN THOUSANDS

SUMMARY OF INDEBTEDNESS DEBT MATURITIES SCHEDULE AS OF MARCH 31, 2026

PRINCIPAL BALANCE

BALANCE 1

MATURITY DATE MONTHS TO MATURITY CONTRACTUAL RATE EFFECTIVE RATE BANK

LOANS/CP SENIOR NOTES MORTGAGE NOTES TOTAL

SENIOR NOTES $600,000 $597,140 8/1/2026 4  3.50 % 4.94 % (3) 2026 $— $600,000 $23,404 $623,404

500,000 493,875 7/1/2027 15  3.75 % 4.76 % (3) 2027 —  500,000 —  500,000

300,000 298,812 1/15/2028 22  3.63 % 3.85 % 2028 —  300,000 —  300,000

650,000 600,072 2/15/2030 47  3.10 % 5.30 % (3) 2029 500,000 —  —  500,000

299,500 297,717 3/15/2030 48  2.40 % 2.72 % Thereafter 306,500 2,049,285 —  2,355,785

299,785 296,998 3/15/2031 60  2.05 % 2.25 % Total $806,500 $3,449,285 $23,404 $4,279,189

800,000 690,685 3/15/2031 60  2.00 % 5.13 % (3)

$3,449,285 $3,275,299 36  2.90 % 4.47 %

TERM LOANS 2

$300,000 299,169 1/20/2029 33  SOFR + 0.94% 4.26 % (4)

200,000 199,693 7/20/2029 39  SOFR + 0.94% 3.67 % (4)

$500,000 $498,862 35  4.02 %

$1.5B REVOLVING FACILITY & COMMERCIAL PAPER 2

$306,500 $306,373 7/25/2030 51  various 4.24 % (5)

MORTGAGES $23,404 $23,384 various 6  3.81 % 3.97 %

$4,279,189 $4,103,918 37 3.20 % 4.47 %

SELECTED FINANCIAL COVENANTS LIQUIDITY SOURCES

REQUIREMENT PER DEBT COVENANTS Cash $26,235

Revolving facility and term loans Revolving facility availability 1,444,500

Leverage ratio Not greater than 60% 38.1 % Less: Commercial paper borrowings (principal) (251,000)

Secured leverage ratio Not greater than 30% 0.2 % Total liquidity $1,219,735

Unencumbered leverage ratio Not greater than 60% 41.8 %

Fixed charge coverage ratio Not less than 1.50x 3.6x OTHER METRICS

Unsecured coverage ratio Not less than 1.75x 3.6x % Variable Rate Debt 7.2  %

Share of Unconsolidated JV Net Debt $34,031

Capitalized interest $3,471

1Balances are reflected net of discounts, fair value adjustments, and deferred financing costs and include premiums.

2Includes extension options.

3Fair value merger adjusted in 2022.

4Effective interest rate reflects the swapped rate plus 0.94%.

5Commercial Paper Program borrowings are backstopped by the availability under the Revolving Facility. As such, the Company uses the maturity date of the Revolving Facility.

6Net debt includes the Company's share of unconsolidated JV net debt. See page 23 for a reconciliation of adjusted EBITDA.

7Based on the closing price of $16.99 on March 31, 2026, and 350,785,034 shares outstanding including outstanding OP units.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 19

Components of Net Asset Value

DOLLARS IN THOUSANDS

CASH NOI

1Q 2026

Same store 1

$161,082

Acquisition & Re/development Completions 2,217

Total $163,299

Management fee income and other 2

5,476

Total Cash NOI $168,775

DEVELOPMENT & REDEVELOPMENT PROPERTIES

PROJECTED STABILIZED ANNUAL CASH NOI 3

COST TO COMPLETE BUDGET LOW HIGH

Developments $13,039  $106,200  $7,000  $8,000

Redevelopments 4

183,932  287,700  46,000  50,000

$196,971  $393,900  $53,000  $58,000

LAND HELD FOR DEVELOPMENT, CASH, & OTHER ASSETS

Land held for development $57,799

Disposition pipeline 5

130,536

Unstabilized properties 6

120,836

Cash, Other Assets & Liabilities (net) 7,8

9,884

Total $319,055

DEBT (PRINCIPAL)

Unsecured credit facility and commercial paper $306,500

Unsecured term loans 500,000

Senior notes 3,449,285

Mortgage notes payable 23,404

Share of unconsolidated JV net debt 34,031

Total $4,313,220

TOTAL SHARES AND OP UNITS OUTSTANDING

As of March 31, 2026 350,785,034

1See Same Store statistics on page 15 for details on Same Store NOI. Includes same store JV assets at share.

2Other adjustments include adjustments for management fee income of $5.5 million and timing adjustments as if we have owned acquisitions for the full quarter, offset by $0.3 million of positive NOI for unstabilized properties, which are shown in other assets.

3Represents total building projected stabilized NOI for properties in development and redevelopment at project stabilization.

4Estimated total cost includes only the incremental capital to complete the redevelopment.

5Includes 17 properties identified as assets held for sale that are excluded from Same Store Cash NOI and reflects net book value or sales price, if applicable.

6Includes 15 properties at their gross book value. These properties were comprised of 0.4 million square feet that generated positive NOI of $0.3 million.

7Other assets include notes receivable of $87.0 million, prepaid assets of $50.4 million, accounts receivable of $27.0 million, and prepaid ground leases of $10.9 million. In addition, it includes the Company's gross investment of its corporate headquarters in Nashville of $48.4 million.

8Other liabilities include only liabilities that are expected to reduce future cash or NOI and that are currently producing non-cash benefits to NOI. Included are accounts payable and accrued liabilities of $127.0 million, security deposits of $31.2 million, financing right of use liabilities of $73.7 million, and deferred operating expense reimbursements of $8.1 million.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 20

Glossary

FUNDS FROM OPERATIONS

Funds from operations (“FFO”) and FFO per share are operating performance measures adopted by NAREIT. NAREIT defines FFO as “net income (computed in accordance with GAAP) excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity.”

FFO, Normalized FFO and Funds Available for Distribution ("FAD") do not represent cash generated from operating activities determined in accordance with GAAP and are not necessarily indicative of cash available to fund cash needs. FFO, Normalized FFO and FAD should not be considered alternatives to net income attributable to common stockholders as indicators of the Company's operating performance or as alternatives to cash flow as measures of liquidity.

BUILDING METRICS

Gross investment and cash NOI are reflected at the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings. Excludes assets held for sale, land held for development, and corporate property.

ACQUISITIONS

Acquisitions include properties acquired through joint ventures at the Company's ownership percentage.

RE/DEVELOPMENT FUNDING

Re/development funding includes capital spend on re/developments, re/development completions and unstabilized properties.

1ST GENERATION TI/LC/CAPITAL & ACQUISITION CAPEX

Acquisition capex includes near-term fundings underwritten as part of recent acquisitions. 1st generation tenant improvements, capital, and leasing commissions for re/developments are excluded.

LEASING COMMITMENTS

Excludes recently acquired or disposed properties, re/development completions, construction in progress, land held for development, corporate property, redevelopment properties, unstabilized properties, planned dispositions and assets classified as held for sale.

TOTAL PROPERTIES

Excludes assets held for sale, land held for development, dispositions, and corporate property.

TOTAL COMPANY

Includes assets held for sale, land held for development, dispositions, and corporate property.

ON CAMPUS/ADJACENT

Includes on campus properties and adjacent properties as being no more than 0.25 miles from a hospital campus.

OFF CAMPUS AFFILIATED

Includes off-campus buildings where health systems lease 20% or more of the property and/or are located within 2 miles of a hospital campus.

OFF CAMPUS NON-AFFILIATED

Includes off-campus buildings that are not 20% or more leased by a health system and are more than two miles from a hospital campus.

SAME STORE

Same store properties are properties that have been included in operations for the duration of the year-over-year comparison period presented. Accordingly, same store properties exclude properties that were recently acquired or disposed of, properties classified as held for sale or intended for sale, properties undergoing redevelopment, and newly redeveloped or developed properties.

DISPOSITION CASH YIELD

Represents the in-place cash NOI divided by sales price. Includes disposition activity subsequent to quarter end.

ACQUISITION INITIAL CASH YIELD

Represents the forecasted first year NOI divided by the purchase price. For joint venture acquisitions, the cash yield is inclusive of fees received from the joint venture. Includes acquisition activity subsequent to quarter end.

OTHER TERMS

Medical Outpatient Building (MOB)

Commercial Paper (CP)

Weighted Average Lease Term Remaining (WALT)

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 21

Reconciliations

DOLLARS IN THOUSANDS

NET INCOME (LOSS) TO NOI

FIRST QUARTER ENDED FULL YEAR

2026 2025 2025

Net income (loss) $21  ($45,389) ($249,485)

Other expense (income) 31,646  63,893  342,392

General and administrative expense 17,343  13,530  72,569

Depreciation and amortization expense 128,985  156,035  588,186

Other expenses 1

2,995  2,498  7,990

Straight-line rent expense 563  865  3,354

Straight-line rent revenue (8,459) (7,709) (27,106)

Other revenue 2

(11,980) (9,907) (39,792)

Joint venture property cash NOI (at share) 8,560  8,282  33,503

Cash NOI $169,674  $182,098  $731,611

Developments (289) 64  (215)

Development completions (831) (854) (3,279)

Redevelopment (4,658) (8,466) (31,750)

Redevelopment completions (1,376) (628) (3,775)

Acquisitions (wholly owned and joint venture) (10) —  —

Completed dispositions & assets held for sale (1,428) (21,533) (71,741)

Same store cash NOI $161,082  $150,681  $620,851

Same store joint venture properties (7,479) (7,206) (29,190)

Same store excluding JVs $153,603  $143,475  $591,661

1Includes transaction costs, rent reserves, above and below market ground lease intangible amortization, leasing commission amortization, non-cash adjustments for financing receivables, and ground lease straight-line rent.

2Includes management fee income, interest, above and below market lease intangible amortization, lease inducement amortization, lease termination fees, deferred financing cost amortization and principal related to investment in financing receivable, and tenant improvement overage amortization.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 22

Reconciliations (cont'd)

DOLLARS IN THOUSANDS

NET INCOME (LOSS) TO EBITDA

QUARTER ENDED

1Q 2026 4Q 2025 1Q 2025

Net income (loss) $21  $14,591  ($45,389)

Interest expense 43,890 48,189 54,812

Income taxes 296 300 310

Depreciation and amortization 1

128,985 135,036 156,035

Unconsolidated JV depreciation, amortization, and interest 8,130 8,121 7,128

EBITDA $181,322 $206,237 $172,896

Transaction costs 937 300 1,011

Gain on sales of assets (10,777) (135,711) (2,904)

Impairments on real estate assets 16 105,706 12,080

Restructuring and severance-related charges 5,837 588 114

Loss on extinguishment of debt 21 165 —

Timing impact 2

2,603  (2,089) 4,176

Stock based compensation 3,927 3,308 3,028

Debt financing costs 3

96 1,449 —

Other 507  1,441  1,168

Unconsolidated JV adjustments 339 319 204

Adjusted EBITDA $184,828 $181,713 $191,773

Annualized Adjusted EBITDA $739,312 $726,852 $767,092

RECONCILIATION OF NET DEBT TO ADJUSTED EBITDA

Debt $4,103,918  $3,911,423  $4,732,618

Share of Unconsolidated JV Net Debt 34,031 31,751 29,908

Cash (26,235) (26,172) (25,722)

Net debt $4,111,714 $3,917,002 $4,736,804

Net debt to adjusted EBITDA 5.6x 5.4x 6.2x

Net debt to adjusted EBITDA 4

5.5x

1Leasing commission amortization is included in the real estate depreciation and amortization add-back for FFO.

2Timing adjustments to represent a full quarter impact of acquisitions and dispositions. Properties contributed into a joint venture are adjusted at the Company's share. Timing adjustments also include non-recurring impacts due to one-time items recognized in the quarter.

3Includes loss on derivatives and legal fees related to the amended and restated credit facility.

4Adjusted for the repayment of a $45 million mortgage loan receivable that is expected to be repaid in the second quarter.

HEALTHCARE REALTY

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1Q 2026 SUPPLEMENTAL INFORMATION 23

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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No definition available.

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Local phone number for entity.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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- Definition

Title of a 12(b) registered security.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Data Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Data Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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