SCOTTSDALE, Ariz., Aug. 2, 2018 /PRNewswire/ -- Healthcare
Trust of America, Inc. ("HTA") (NYSE: HTA) (the "Company"), a
leading owner of medical office buildings, announced today that its
Board of Directors approved a new stock repurchase program
authorizing the Company to purchase of up to $300 million of its Class A common stock from
time to time prior to August 1, 2020.
The Company concurrently terminated the stock repurchase
program authorizing the purchase of up to $100 million of its Class A common stock that was
approved in June 2018. Prior to the termination, in
June 2018, pursuant to the
$100 million authorized plan, HTA
repurchased 333,002 shares of its common stock, at an average price
of $26.26 per share, for an aggregate
amount of $8.7 million.
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About HTA
Healthcare Trust of America, Inc. (NYSE:
HTA) is the largest dedicated owner and operator of medical office
buildings in the United States,
comprising over 24 million square feet of GLA, with over
$7 billion invested primarily in
medical office buildings. HTA provides real estate
infrastructure for the integrated delivery of healthcare services
in highly-desirable locations. Investments are targeted to
build critical mass in 20 to 25 leading gateway markets that
generally have leading university and medical institutions which
translates to superior demographics, high-quality graduates,
intellectual talent and job growth. The strategic markets HTA
invests in support a strong, long-term demand for quality medical
office space. HTA utilizes an integrated asset management
platform consisting of on-site leasing, property management,
engineering and building services, and development capabilities to
create complete, state of the art facilities in each market.
This drives efficiencies, strong tenant and health system
relationships, and strategic partnerships that result in high
levels of tenant retention, rental growth and long-term value
creation. Headquartered in Scottsdale, Arizona, HTA has developed a
national brand with dedicated relationships at the local level.
Founded in 2006 and listed on the New York Stock Exchange in
2012, HTA has produced attractive returns for its stockholders that
have significantly outperformed the S&P 500 and US REIT
indices. More information about HTA can be found on the
Company's Website, Facebook, LinkedIn and Twitter.
Forward-Looking Language
This press release contains
certain forward-looking statements. Forward-looking
statements are based on current expectations, plans, estimates,
assumptions and beliefs, including expectations, plans, estimates,
assumptions and beliefs about HTA, stockholder value and earnings
growth.
The forward-looking statements included in this press release
are subject to numerous risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. Assumptions relating to
the foregoing involve judgments with respect to, among other
things, future economic, competitive and market conditions and
future business decisions, all of which are difficult or impossible
to predict accurately and many of which are beyond HTA's
control. Although HTA believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, HTA's actual results and performance could
differ materially and in adverse ways from those set forth in the
forward-looking statements. Factors which could have a
material adverse effect on HTA's operations and future prospects
include, but are not limited to:
- changes in economic conditions affecting the healthcare
property sector, the commercial real estate market and the credit
market;
- competition for acquisition of medical office buildings and
other facilities that serve the healthcare industry;
- economic fluctuations in certain states in which HTA's property
investments are geographically concentrated;
- retention of HTA's senior management team;
- financial stability and solvency of HTA's tenants;
- supply and demand for operating properties in the market areas
in which HTA operates;
- HTA's ability to acquire real properties, and to successfully
operate those properties once acquired;
- changes in property taxes;
- legislative and regulatory changes, including changes to laws
governing the taxation of REITs and changes to laws governing the
healthcare industry;
- fluctuations in reimbursements from third party payors such as
Medicare and Medicaid;
- changes in interest rates;
- the availability of capital and financing;
- restrictive covenants in HTA's credit facilities;
- changes in HTA's credit ratings;
- HTA's ability to remain qualified as a REIT;
- changes in accounting principles generally accepted in
the United States of America,
policies and guidelines applicable to REITs;
- delays in liquidating defaulted mortgage loan investments;
and
- the risk factors set forth in HTA's most recent Annual Report
on Form 10-K and in HTA's most recent Quarterly Reports on Form
10-Q.
Forward-looking statements speak only as of the date made.
Except as otherwise required by the federal securities laws, HTA
undertakes no obligation to update any forward-looking statements
to reflect the events or circumstances arising after the date as of
which they are made. As a result of these risks and
uncertainties, readers are cautioned not to place undue reliance on
the forward-looking statements included in this press release or
that may be made elsewhere from time to time by, or on behalf of,
HTA.
Financial Contact:
Robert A. Milligan
Chief Financial Officer
Healthcare Trust of America, Inc.
480.998.3478
RobertMilligan@htareit.com
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SOURCE Healthcare Trust of America, Inc.