Healthcare Realty Trust (HR) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Healthcare Realty published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Healthcare Realty reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Normalized FFO per share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Healthcare Realty is a REIT. Revenue here is the release's total revenues line: rental income, interest income and other operating revenue. The adjusted per-share figure is Normalized FFO, which Healthcare Realty defines as NAREIT FFO excluding acquisition-related expenses and other normalizing items.
• GAAP diluted EPS is a loss in every quarter shown, mostly because of real estate depreciation and impairments, which FFO adds back.

Source: Healthcare Realty Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Healthcare Realty splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Healthcare Realty's Rental income revenue was $278 million in Q3 2026, down 3% from $287 million in Q3 2025, 97% of total revenue.
• Healthcare Realty's Interest income revenue was $1.1 million in Q3 2026, down 69% from $3.5 million in Q3 2025, under 1% of total revenue.
• Healthcare Realty's Other operating revenue was $7.9 million in Q3 2026, up 14% from $6.9 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Healthcare Realty said:

“the Company announced an increased 2026 Normalized FFO guidance range of $1.65 to $1.67 per share (diluted), a $0.02 increase at the midpoint from July guidance, and an increased Same Store Cash NOI growth guidance range of 5.00% to 5.25% (+75bps increase at the low end and +25bps at the high end from July guidance).”

“The Company's guidance does not contemplate impacts from gains or losses from dispositions, potential impairments, or debt extinguishment costs, if any.”

Source: Healthcare Realty Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the HR forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenues in millions and GAAP diluted EPS, each as first reported in that quarter's release. Q1 2026 diluted EPS was printed as $(0.00).

We do not hold a confirmed date for Healthcare Realty's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Healthcare Realty is a REIT that owns, leases, develops and redevelops real estate used mainly for outpatient healthcare across the United States. Almost all of its revenue is rent: rental income was $277.6 million of total revenues of $286.6 million in Q3 2026, with interest income of $1.1 million and other operating revenue of $7.9 million. (Healthcare Realty Form 10-K, 2025, Feb 13, 2026; Healthcare Realty Q3 2026 release, Oct 29, 2026)

Healthcare Realty's revenue is shrinking because it is selling buildings. Rental income fell $9.8 million, or 3.4%, from a year earlier: dispositions in 2025 and 2026 cut it by $28.7 million, while leasing activity added $15.6 million. Since the prior quarter it sold $68 million of assets, taking 2026 dispositions to $136 million, and bought $211 million of assets inside its joint venture with KKR, about $42 million at its share. (Healthcare Realty Form 10-Q, Q3 2026, Oct 29, 2026; Healthcare Realty Q3 2026 release, Oct 29, 2026)

The portfolio was 560 properties and 32.8 million square feet in 49 markets at September 30, 2026, with 78% of cash NOI from its top 20 markets. Same-store occupancy was 93.1%, up from 92.3% a year earlier. (Healthcare Realty Q3 2026 supplemental information, Oct 29, 2026)

Tenants are concentrated among large health systems. HCA accounted for 7.3% of trailing twelve-month cash NOI, Baylor Scott & White 7.1% and CommonSpirit 7.0%. In Q3 2026 Healthcare Realty signed 329 new and renewal leases for 1.5 million square feet, with a weighted average term of 5.9 years and average annual escalators of 3.1%. (Healthcare Realty Q3 2026 supplemental information, Oct 29, 2026; Healthcare Realty Q3 2026 release, Oct 29, 2026)

Healthcare Realty reported a GAAP net loss of $(0.05) per diluted share in Q3 2026, against $(0.17) a year earlier, and Normalized FFO of $0.42 per share against $0.41. NAREIT FFO, $0.38 per share, adds back $127.0 million of real estate depreciation and amortization and $16.2 million of impairments, and subtracts $2.5 million of gains on sales. Normalized FFO also excludes a $9.1 million merger-related fair value adjustment to interest expense and $2.0 million of restructuring and severance charges. (Healthcare Realty Q3 2026 release, Oct 29, 2026)

Healthcare Realty is buying back stock. In the third quarter and early October it repurchased 4.2 million shares at an average of $17.74 for $75 million, and on October 26, 2026 it renewed its program with authorization of up to $500 million for 12 months. FFO weighted average diluted shares were 345.6 million against 354.7 million a year earlier. (Healthcare Realty Q3 2026 release, Oct 29, 2026)

Funds available for distribution were $110.2 million, and the payout ratio was 76%. The board declared a dividend of $0.24 per share, payable November 20, 2026. (Healthcare Realty Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Healthcare Realty guides for the full year and raised the ranges in this release: Normalized FFO of $1.65 to $1.67 per share, from $1.62 to $1.66 in July, and same-store cash NOI growth of 5.00% to 5.25%, from 4.25% to 5.00%. NAREIT FFO guidance rose to $1.48 to $1.52 per share, and EPS guidance stayed at $(0.15) to $(0.11). (Healthcare Realty Q3 2026 release, Oct 29, 2026)

The guidance leaves out gains or losses on dispositions, impairments and debt extinguishment costs, and any acquisitions, developments, share issuance or repurchases beyond those in the supplemental's assumptions. Those assumptions include normalized general and administrative expense of $43 million to $47 million and interest expense of $130 million to $140 million. (Healthcare Realty Q3 2026 release, Oct 29, 2026; Healthcare Realty Q3 2026 supplemental information, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Healthcare Realty, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Healthcare Realty's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning HR is on is HR a buy or a sell?, what analysts expect next is on the HR forecast, and what the company does is on the Healthcare Realty Trust (HR) stock page.

Every number on this page can be traced to a document Healthcare Realty published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.