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Healthcare Realty Trust Incorporated (HR) Fair Value & Analysis

Real Estate · US · Market cap $6.9B

HR Healthcare Realty Trust Incorporated logo Healthcare Realty Trust Incorporated HR · US
Price$19.97
Fair Value$20.60
Upside+3.2%
Quality44/100
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Mixed Growth
Loss-making · -17.3% net margin
Moderate debt · generates free cash flow
4.80% dividend yield
Trails peers (2/14)
Narrow moat 25/100
Evidence: Medium Range $12.47 – $28.72 Share as image

Fair value as of: Jul 26, 2026

From 6 valuation models · updated 15 days ago

Share price −3.2% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range ($12.47 to $28.72) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

$21.87 $11.17 Fair Value $20.60 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range $11.17 – $21.87 · fair‑value band $12.47 – $28.72 · the $19.97 price screens below the $20.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.

Full chart & analysis →

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Analysis

Healthcare Realty Trust Incorporated (HR) currently trades at $19.97, while our model-based Fair Value estimate is $20.60, implying the stock looks roughly 3.2% fairly valued today. The Quality Score stands at 44/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Healthcare Realty Trust Incorporated generated revenue of $1.2B at a net margin of -17.3%. Revenue declined 6.5% year over year. It earns a return on equity of -4.2%. Net debt stands at $4.1B. Fundamentals as of Jul 26, 2026

Our scenario range runs from $12.47 (bear case) to $28.72 (bull case); at $19.97, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 4% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -53% fair-value upside, at 3%, HR screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $4.98 80
EV/EBITDA $13.50 $21.62 $29.75 54
NCAV (Graham) $6.66 $8.93 $13.32 50
All 6 models by family
DCF Models
FCF DCF $7.20 38
5Y EBITDA Exit $6.40 $25.58 $51.31 41
10Y EBITDA Exit $2.22 $18.21 $45.72 37
Multiples
EV/EBITDA $13.50 $21.62 $29.75 54
Asset-Based
NCAV (Graham) $6.66 $8.93 $13.32 50
Growth DCF
Growth DCF $4.98 80

Widest divergence: Multiples ($21.62) versus Asset-Based ($8.93). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $1.2B
Revenue growth (YoY) -6.5%
Net margin -17.3%
Return on equity -4.2%
Free cash flow $127M FY2025
Operating margin 11.5%
More key figures
EPS (TTM) $-0.5800
Dividend yield 4.8%
EPS growth (YoY) -76.8%
Net debt $4.1B FY2025

Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 41 · Market factors (momentum, volatility) 74

Profitability 2
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 66
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 50
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Healthcare Realty Trust Incorporated is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development.

Full company description

Healthcare Realty Trust Incorporated is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As of September 30, 2025, the Company was invested in 579 real estate properties in 28 states totaling 33.6 million square feet and had an enterprise value of approximately 11.1 billion dollars, defined as equity market capitalization plus the principal amount of debt less cash. Healthcare Realty Trust Incorporated was incorporated in 1992 and is based in Nashville, United States.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Healthcare Realty Trust Incorporated reported revenue of $1.2B in FY2025 versus $535M in FY2021, a compound +21.9%/yr. Reported net income was −$246M in FY2025.

Growth Quality 38/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$1.2B
Latest YoY
−6.9%
Avg. growth/yr (3Y)
+8.2%
Avg. growth/yr (5Y)
+9.9%
Avg. growth/yr (32Y)
+17.4%
Revenue +21.9%/yr
FY21 $535M
FY22 $933M
FY23 $1.3B
FY24 $1.3B
FY25 $1.2B
Net income
FY21 $66.7M
FY22 $40.9M
FY23 −$278M
FY24 −$654M
FY25 −$246M

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Cite: Fair Value Calculator (2026). "Healthcare Realty Trust Incorporated Fair Value". https://www.fairvalue-calculator.com/stock/HR

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

REIT - Healthcare Facilities · 28 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 45 · Below median
Fair Value upside +3% · Top 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) -17% · Bottom 25%
Operating margin (TTM) 12% · Bottom 25%
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 4.8% · Below median
Debt / equity 0.82× · Higher than median

Valuation Multiples vs REIT - Healthcare Facilities median · lower = cheaper

P/B 1.50× · Pricier than median
P/S (TTM) 5.98× · Pricier than median
P/FCF 54.7× · Pricier than 75% of peers
EV/EBITDA 15.4× · Cheaper than median
PEG 8.82× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 38 · sector 0
FUTURE 0 · sector 30
PAST 0 · sector 21
HEALTH 59 · sector 71
DIVIDEND 96 · sector 100

Insider activity: 78/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more REIT - Healthcare Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).

Stock Price Fair Value vs Fair Value
Welltower Inc WELL $231.59 $42.21 -82%
Ventas, Inc VTR $100.53 $18.07 -82%
Omega Healthcare Investors, Inc OHI $51.72 $33.69 -35%
Healthpeak Properties, Inc DOC $22.27 $7.02 -68%
American Healthcare REIT, Inc AHR $56.38 $11.04 -80%
CareTrust REIT, Inc CTRE $43.25 $23.07 -47%
Aedifica NV AED €69.85 €36.17 -48%
Chartwell Retirement Residences CSHUN C$22.81 C$3.52 -85%
Sabra Health Care REIT, Inc SBRA $22.36 $10.49 -53%
National Health Investors, Inc NHI $80.54 $49.86 -38%

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Frequently asked questions

Is Healthcare Realty Trust Incorporated (HR) overvalued or undervalued?
As of Jul 26, 2026, our model estimates a fair value of $20.60 versus a price of $19.97, about +3% (fairly valued).
What is the fair value of HR?
Our model-based fair value for Healthcare Realty Trust Incorporated is $20.60 (as of Jul 26, 2026), built from audited fundamentals. The current price is $19.97.
What is the quality score of HR?
Healthcare Realty Trust Incorporated has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Healthcare Realty Trust Incorporated (HR)?
Healthcare Realty Trust Incorporated reported trailing-twelve-month revenue of about $1.2B (latest available figure, as of Jul 26, 2026).
What is the net profit margin of HR?
The net profit margin of Healthcare Realty Trust Incorporated is about -17.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Healthcare Realty Trust Incorporated pay a dividend?
Healthcare Realty Trust Incorporated currently shows a dividend yield of about 4.80% relative to its recent price (as of Jul 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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