Morgan Keegan To Adjust HR Model, PT Following Conference Call

Healthcare Realty Trust

reported fourth quarter FFO of $0.30, matching Morgan Keegan's estimate. “By our calculation, which is not the same as the company's, FAD per share was $0.24, $0.04 shy of our estimate, due to a $2.24 million partial pension settlement,” Morgan Keegan writes. “Without this charge, FAD matched our estimate, which defines FAD as FFO less straight-line rents and estimated tenant improvements. “We will ascertain that there were no other nonrecurring items in the quarter before finalizing our fourth quarter model and revising our 2011 and 2012 estimates. The quarter's results were generally in line with our expectations. Occupancy was stable and the weighted average same-store NOI growth rate was above 2% for the first time since the third quarter of 2009.” Morgan Keegan said that it will adjust its model and PT following the company's 10:00 a.m. conference call. Healthcare Realty Trust closed Tuesday at $22.10.