SCOTTSDALE, Ariz., May 6, 2015 /PRNewswire/ -- Healthcare Trust of America, Inc. (NYSE: HTA) ("HTA") announced results for the quarter ended March 31, 2015.

First Quarter 2015 Highlights

Operating


    --  Normalized FFO: Increased 10.1% to $46.6 million, compared to Q1 2014.
    --  Normalized FFO Per Share: $0.37 per diluted share, an increase of $0.02
        per diluted share, or 6%, compared to Q1 2014.
    --  Normalized FAD: $0.35 per diluted share, or $44.3 million, an increase
        of $0.03 per diluted share, or 9%, compared to Q1 2014.
    --  Same-Property Cash NOI: Increased $1.7 million, or 3.0%, to $57.0
        million, compared to Q1 2014.  Same-Property rental revenue increased
        $1.4 million, or 2.2%, to $65.3 million, compared to Q1 2014.

Portfolio


    --  Acquisitions: During the quarter, HTA acquired $35.3 million of medical
        office buildings (98% leased and approximately 117,000 square feet of
        GLA).  These buildings are located in one of our key markets, Atlanta.
    --  Leasing: During the quarter, HTA entered into new and renewal leases on
        approximately 185,000 square feet of GLA, or 1.2% of its portfolio. 
        Tenant retention for the quarter was 77% by GLA.
    --  Leased Rate: At the end of the quarter, the leased rate by GLA was
        91.7%, an increase from 91.2% as of Q1 2014.

Balance Sheet and Liquidity


    --  Balance Sheet: At the end of the quarter, HTA had total liquidity of
        $856.0 million, including $842.5 million of availability on its
        unsecured credit agreement and $13.5 million of cash and cash
        equivalents.  The leverage ratio of debt to capitalization was 29.2%.
    --  Debt Refinance: In February 2015, HTA amended its unsecured credit
        agreement.  The amendment added an additional lender and increased the
        amount available under the unsecured revolving credit facility by $50.0
        million to $850.0 million.

Financial Results

Rental Income
Rental income increased 8.8% to $98.5 million for the three months ended March 31, 2015, compared to $90.5 million for the three months ended March 31, 2014. The increase in rental income was primarily driven by $474.8 million of acquisitions since March 31, 2014, together with Same-Property growth.

Normalized FFO
Normalized Funds from Operations ("Normalized FFO") was $0.37 per diluted share, or $46.6 million, for the three months ended March 31, 2015, compared to $0.35 per diluted share, or $42.4 million, for the three months ended March 31, 2014.

FFO
FFO was $0.34 per diluted share, or $43.1 million, for the three months ended March 31, 2015, compared to $0.34 per diluted share, or $40.2 million, for the three months ended March 31, 2014.

Normalized FAD
Normalized Funds Available for Distribution ("Normalized FAD") was $0.35 per diluted share, or $44.3 million, for the three months ended March 31, 2015, compared to $0.32 per diluted share, or $38.7 million, for the three months ended March 31, 2014.

NOI
Net Operating Income ("NOI") was $67.8 million for the three months ended March 31, 2015, compared to $61.7 million for the three months ended March 31, 2014.

Same-Property Cash NOI
Same-Property Cash NOI increased $1.7 million, or 3.0%, to $57.0 million for the three months ended March 31, 2015, compared to $55.3 million for the three months ended March 31, 2014. Same-Property rental revenue increased $1.4 million, or 2.2%, to $65.3 million, for the three months ended March 31, 2015, compared to the three months ended March 31, 2014.

General and Administrative Expenses
General and administrative expenses were $6.6 million for the three months ended March 31, 2015, compared to $6.3 million for the three months ended March 31, 2014.

Interest Expense and Change in Fair Value of Derivative Financial Instruments
The total interest expense and change in fair value of derivative financial instruments for the three months ended March 31, 2015, was $16.4 million, which included $14.4 million of interest expense related to debt and interest rate swaps, and a net loss of $2.0 million on the change in the fair value of HTA's derivative financial instruments.

HTA ended the quarter with a weighted average borrowing cost of 3.63% per annum, inclusive of interest rate swaps. The weighted average remaining term of the debt portfolio (including extension options) increased to 5.4 years from 5.0 years at March 31, 2014.

Net Income
Net income for the three months ended March 31, 2015, was $6.9 million, compared to $5.4 million for the three months ended March 31, 2014.

Balance Sheet
As of March 31, 2015, HTA had total assets of $3.0 billion, cash and cash equivalents of $13.5 million and $842.5 million available on its unsecured credit agreement (includes the impact of $5.5 million of outstanding letters of credit). HTA ended the quarter with low leverage totaling 29.2% debt to capitalization.

Leased Rate, Occupancy Rate and Tenant Retention
The leased rate (includes leases which have been executed, but which have not yet commenced) was 91.7% by gross leaseable area ("GLA"), an increase from 91.2% as of Q1 2014. The occupancy rate of HTA's portfolio was 91.3% by GLA, an increase from 90.8% as of Q1 2014. Tenant retention for the quarter was 77% by GLA.

Credit Rated Tenants
Investment grade rated tenants as a percent of annualized base rent was 41% as of March 31, 2015. Additionally, 58% of HTA's annualized base rent as of March 31, 2015 is derived from tenants that have (or whose parent companies have) a credit rating from a nationally recognized rating agency.

In-House Property Management and Leasing Platform
As of March 31, 2015, HTA's in-house property management and leasing platform operated over 13.5 million square feet of GLA, or 90%, of HTA's total portfolio.

About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (NYSE: HTA) is a publicly traded real estate investment trust that acquires, owns and operates medical office buildings located primarily on-campus or affiliated with the nation's leading healthcare systems. HTA is known for its exclusive dedication to the medical office sector and believes that this focus will be advantageous to the extent the healthcare sector continues to benefit from major macroeconomic tailwinds.

Since its formation in 2006, HTA has invested approximately $3.4 billion in medical office buildings comprising 15.0 million square feet in 28 states. A disciplined and targeted acquisition approach has positioned HTA's real estate portfolio in certain key markets (among others) with growing and healthy economics, including: Albany, Atlanta, Boston, Charleston, Dallas, Denver, Greenville, Honolulu, Houston, Indianapolis, Miami, Orlando, Phoenix, Pittsburgh, Raleigh, Tampa, and White Plains. The portfolio is operated by an in-house national asset management and leasing platform which is directed from over 10 full-service regional offices across the U.S. HTA has a consistent track record since listing on the New York Stock Exchange in 2012 and believes that a commitment to long-term real estate principles will assist in its goal to generate shareholder value. More information about HTA can be found on the company's website at www.htareit.com.

Forward-Looking Language
This press release contains certain forward-looking statements with respect to HTA. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially and in adverse ways from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, without limitation, the following: changes in economic conditions generally and the real estate market specifically; legislative and regulatory changes, including changes to laws governing the taxation of REITs and changes to laws governing the healthcare industry; the availability of capital; changes in interest rates; competition in the real estate industry; the supply and demand for operating properties in our proposed market areas; changes in accounting principles generally accepted in the United States of America; policies and guidelines applicable to REITs; the availability of properties to acquire; and the availability of financing. Additional information concerning us and our business, including additional factors that could materially and adversely affect our financial results, include, without limitation, the risks described under Part I, Item 1A - Risk Factors, in our Annual Report on Form 10-K and in our other filings with the SEC.

First Quarter Conference Call
HTA will host a conference call and webcast on Wednesday, May 6, 2015 at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) to review its financial performance and operating results for the quarter ended March 31, 2015.

Conference Call and Webcast Details:
Domestic Dial-In Number: (877) 507-6265
International Dial-In Number: (412) 902-6633
Webcast: www.htareit.com under the Investor Relations tab

Replay Conference Call Details:
Domestic Dial-In Number: (877) 344-7529
International Dial-In Number: (412) 317-0088
Conference ID: 10063887
Available May 6, 2015 (one hour after the end of the conference call) to June 6, 2015 at 12:00 a.m. Eastern Time

Supplemental Information
Supplemental financial data are available on the company's website at www.htareit.com.

Financial Contact:
Robert A. Milligan
Chief Financial Officer
480.998.3478


                                          HEALTHCARE TRUST OF AMERICA, INC.

                                        CONDENSED CONSOLIDATED BALANCE SHEETS

                                          (In thousands, except share data)

                                                     (Unaudited)


                                                                March 31, 2015             December 31,
                                                                                               2014
                                                                --------------            -------------

                             ASSETS

    Real estate investments:

    Land                                                                         $288,503                  $287,755

    Building and improvements                                        2,699,979                 2,665,777

    Lease intangibles                                                  420,094                   419,288

                                                                     3,408,576                 3,372,820

    Accumulated depreciation and amortization                        (583,166)                (549,976)

    Real estate investments, net                                     2,825,410                 2,822,844

    Cash and cash equivalents                                           13,517                    10,413

    Restricted cash and escrow deposits                                 21,120                    20,799

    Receivables and other assets, net                                  143,808                   144,106

    Other intangibles, net                                              45,231                    43,488
                                                                        ------                    ------

    Total assets                                                               $3,049,086                $3,041,650
                                                                               ==========                ==========

                     LIABILITIES AND EQUITY

    Liabilities:

    Debt                                                                       $1,458,598                $1,412,461

    Accounts payable and accrued liabilities                            84,823                   101,042

    Derivative financial instruments -
     interest rate swaps                                                 3,378                     2,888

    Security deposits, prepaid rent and other
     liabilities                                                        38,947                    32,687

    Intangible liabilities, net                                         12,464                    12,425
                                                                        ------                    ------

    Total liabilities                                                1,598,210                 1,561,503

    Commitments and contingencies

    Redeemable noncontrolling interests                                  3,797                     3,726

    Equity:

    Preferred stock, $0.01 par value;
     200,000,000 shares authorized; none
     issued and outstanding                                                  -                        -

    Class A common stock, $0.01 par value;
     1,000,000,000 shares authorized;
     125,203,393 and 125,087,268 shares
     issued and outstanding as of March 31,
     2015 and December 31, 2014, respectively                            1,252                     1,251

    Additional paid-in capital                                       2,282,553                 2,281,932

    Cumulative dividends in excess of
     earnings                                                        (865,549)                (836,044)
                                                                      --------                  --------

    Total stockholders' equity                                       1,418,256                 1,447,139

    Noncontrolling interests                                            28,823                    29,282
                                                                        ------                    ------

    Total equity                                                     1,447,079                 1,476,421

    Total liabilities and equity                                               $3,049,086                $3,041,650
                                                                               ==========                ==========


                                   HEALTHCARE TRUST OF AMERICA, INC.

                            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                                 (In thousands, except per share data)

                                              (Unaudited)


                                                           Three Months Ended March 31,
                                                         ----------------------------

                                                               2015                   2014
                                                               ----                   ----

    Revenues:

    Rental income                                                      $98,452             $90,452

    Interest and other
     operating income                                            68                    852
                                                                ---                    ---

    Total revenues                                           98,520                 91,304

    Expenses:

    Rental                                                   30,697                 29,589

    General and
     administrative                                           6,575                  6,299

    Acquisition-related                                       1,357                    976

    Depreciation and
     amortization                                            36,595                 34,942
                                                             ------                 ------

    Total expenses                                           75,224                 71,806
                                                             ------                 ------

    Income before other
     income (expense)                                        23,296                 19,498

    Interest expense:

    Interest related to
     derivative financial
     instruments                                              (555)               (1,345)

    Net loss on change in
     fair value of
     derivative financial
     instruments                                            (2,010)                 (841)
                                                             ------                   ----

    Total interest related
     to derivative financial
     instruments, including
     net change in fair
     value of derivative
     financial instruments                                  (2,565)               (2,186)

    Interest related to debt                               (13,804)              (11,904)

    Other income                                                 15                     26
                                                                ---                    ---

    Net income                                                          $6,942              $5,434

    Net income attributable
     to noncontrolling
     interests                                                (138)                 (142)
                                                               ----                   ----

    Net income attributable
     to common stockholders                                             $6,804              $5,292
                                                                        ======              ======

    Earnings per common share -basic:
     (1)

    Net income attributable
     to common stockholders                                              $0.05               $0.04
                                                                         =====               =====

    Earnings per common share -diluted:
     (1)

    Net income attributable
     to common stockholders                                              $0.05               $0.04
                                                                         =====               =====

    Weighted average number of common
     shares outstanding: (1)

    Basic                                                   125,175                118,644
                                                            =======                =======

    Diluted                                                 127,105                119,912
                                                            =======                =======



                  (1)    For the three months ended March 31,
                          2014, amounts have been adjusted
                          retroactively to reflect a 1-for-
                          2 reverse stock split effected
                          December 15, 2014.


                           HEALTHCARE TRUST OF AMERICA, INC.

                       NOI, CASH NOI AND SAME-PROPERTY CASH NOI

                                    (In thousands)


                                                Three Months Ended March 31,
                                                ----------------------------

                                                   2015                      2014
                                                   ----                      ----

    Net income                                               $6,942                $5,434

    General and
     administrative
     expenses                                     6,575                     6,299

    Acquisition-
     related expenses                             1,357                       976

    Depreciation and
     amortization
     expense                                     36,595                    34,942

    Interest expense
     and net change in
     fair value of
     derivative
     financial
     instruments                                 16,369                    14,090

    Other income                                   (15)                     (26)
                                                    ---                       ---

    NOI                                                     $67,823               $61,715
                                                            =======               =======

    NOI percentage
     growth                                        9.9%
                                                    ===


    NOI                                                     $67,823               $61,715

    Straight-line rent
     adjustments, net                           (2,019)                  (2,100)

    Amortization of
     below and above
     market leases/
     leasehold
     interests, net                                 580                       668

    Lease termination
     fees                                          (11)                     (13)
                                                    ---                       ---

    Cash NOI                                                $66,373               $60,270

    Notes receivable
     interest income                                  -                    (781)

    Non Same-Property
     Cash NOI                                   (9,377)                  (4,161)

    Same-Property Cash
     NOI (1)                                                $56,996               $55,328
                                                            =======               =======

    Same-Property Cash
     NOI percentage
     growth                                        3.0%
                                                    ===



           (1) Same-Property
      includes 268 buildings
        for the three months
        ended March 31, 2015
                   and 2014.

NOI is a non-GAAP financial measure that is defined as net income or loss (computed in accordance with GAAP) before: (i) general and administrative expenses; (ii) acquisition-related expenses; (iii) depreciation and amortization expense; (iv) interest expense and net change in fair value of derivative financial instruments; and (v) other income or expense. HTA believes that NOI provides an accurate measure of the operating performance of its operating assets because NOI excludes certain items that are not associated with the management of the properties. Additionally, HTA believes that NOI is a widely accepted measure of comparative operating performance of REITs. However, HTA's use of the term NOI may not be comparable to that of other REITs as they may have different methodologies for computing this amount. NOI should not be considered as an alternative to net income or loss (computed in accordance with GAAP) as an indicator of our financial performance. NOI should be reviewed in connection with other GAAP measurements.

Cash NOI is a non-GAAP financial measure which excludes from NOI: (i) straight-line rent adjustments, net; (ii) amortization of below and above market leases/leasehold interests, net; and (iii) lease termination fees. HTA believes that Cash NOI provides another measurement of the operating performance of its operating assets. Additionally, HTA believes that Cash NOI is a widely accepted measure of comparative operating performance of REITs. However, HTA's use of the term Cash NOI may not be comparable to that of other REITs as they may have different methodologies for computing this amount. Cash NOI should not be considered as an alternative to net income or loss (computed in accordance with GAAP) as an indicator of our financial performance. Cash NOI should be reviewed in connection with other GAAP measurements.

To facilitate the comparison of Cash NOI between periods, HTA calculates comparable amounts for a subset of its owned properties referred to as "Same-Property." Same-Property Cash NOI excludes properties which have not been owned and operated by HTA during the entire span of all periods presented or are intended to be sold in the near term, notes receivable interest income and certain non-routine items. Same-Property Cash NOI should not be considered as an alternative to net income or loss (computed in accordance with GAAP) as an indicator of our financial performance. Same-Property Cash NOI should be reviewed in connection with other GAAP measurements.


                                HEALTHCARE TRUST OF AMERICA, INC.

                              FFO, NORMALIZED FFO AND NORMALIZED FAD

                              (In thousands, except per share data)


                                                       Three Months Ended March 31,
                                                       ----------------------------

                                                           2015                  2014
                                                           ----                  ----

    Net income attributable
     to common stockholders                                         $6,804             $5,292

    Depreciation and
     amortization expense                                36,280                34,942
                                                         ------

    FFO                                                            $43,084            $40,234

    Acquisition-related
     expenses                                             1,357                   976

    Net loss on change in
     fair value of derivative
     financial instruments                                2,010                   841

    Noncontrolling income
     from partnership units
     included in diluted
     shares                                                 105                   104

    Other normalizing items                                  89                   209
                                                            ---                   ---

    Normalized FFO                                                 $46,645            $42,364

    Other income                                           (15)                 (26)

    Non-cash compensation
     expense                                              1,914                 1,388

    Straight-line rent
     adjustments, net                                   (2,019)              (2,100)

    Amortization of below and
     above market leases/
     leasehold interests, net                               580                   668

    Deferred revenue -tenant
     improvement related                                  (129)                (133)

    Amortization of deferred
     financing costs and debt
     discount/premium                                       939                   561

    Recurring capital
     expenditures, tenant
     improvements and leasing
     commissions                                        (3,609)              (3,995)
                                                         ------                ------

    Normalized FAD                                                 $44,306            $38,727
                                                                   =======            =======


    Net income attributable
     to common stockholders
     per diluted share (1)                                           $0.05              $0.04

    FFO adjustments per
     diluted share, net (1)                                0.29                  0.30
                                                           ----                  ----

    FFO per diluted share (1)                                        $0.34              $0.34

    Normalized FFO
     adjustments per diluted
     share, net (1)                                        0.03                  0.01
                                                           ----                  ----

    Normalized FFO per
     diluted share (1)                                               $0.37              $0.35

    Normalized FAD
     adjustments per diluted
     share, net (1)                                      (0.02)               (0.03)

    Normalized FAD per
     diluted share (1)                                               $0.35              $0.32
                                                                     =====              =====


    Weighted average number
     of diluted common shares
     outstanding (1)                                    127,105               119,912
                                                        =======               =======



             (1)    For the three months ended
                     March 31, 2014, amounts have
                     been adjusted retroactively to
                     reflect a 1-for-2 reverse
                     stock split effected December
                     15, 2014.

HTA computes FFO in accordance with the current standards established by the National Association of Real Estate Investment Trusts ("NAREIT"). NAREIT defines FFO, as net income or loss attributable to common stockholders (computed in accordance with GAAP), excluding impairment write-downs of depreciable assets, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. HTA presents this non-GAAP financial measure because it considers it an important supplemental measure of its operating performance and believes it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs. Historical cost accounting assumes that the value of real estate assets diminishes ratably over time. Since real asset values have historically risen or fallen based on market conditions, many industry investors have considered presentation of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. Because FFO excludes depreciation and amortization unique to real estate, among other items, it provides a perspective not immediately apparent from net income or loss attributable to common stockholders.

HTA's methodology for calculating FFO may be different from methods utilized by other REITs and, accordingly, may not be comparable to such other REITs. FFO should not be considered as an alternative to net income or loss attributable to common stockholders (computed in accordance with GAAP) as an indicator of our financial performance or to cash flow from operating activities (computed in accordance with GAAP) as an indicator of our liquidity, nor is it indicative of sufficient cash flow to fund all of our needs. FFO should be reviewed in connection with other GAAP measurements.

HTA computes Normalized FFO, which excludes from FFO: (i) acquisition-related expenses; (ii) net gain or loss on change in fair value of derivative financial instruments; (iii) noncontrolling income or loss from partnership units included in diluted shares; and (iv) other normalizing items. HTA presents this non-GAAP financial measure because it allows for the comparison of our operating performance to other REITs and between periods on a consistent basis. HTA's methodology for calculating Normalized FFO may be different from the methods utilized by other REITs and, accordingly, may not be comparable to other REITs. Normalized FFO should not be considered as an alternative to net income or loss attributable to common stockholders (computed in accordance with GAAP) as an indicator of our financial performance or to cash flow from operating activities (computed in accordance with GAAP) as an indicator of our liquidity, nor is it indicative of sufficient cash flow to fund our needs. Normalized FFO should be reviewed in connection with other GAAP measurements.

HTA also computes Normalized FAD, which excludes from Normalized FFO: (i) other income or expense; (ii) non-cash compensation expense; (iii) straight-line rent adjustments, net; (iv) amortization of below and above market leases/leasehold interests, net; (v) deferred revenue - tenant improvement related; (vi) amortization of deferred financing costs and debt premium/discount; and (vii) recurring capital expenditures, tenant improvements and leasing commissions. HTA believes this non-GAAP financial measure provides a meaningful supplemental measure of its ability to fund its ongoing dividends. Normalized FAD should not be considered as an alternative to net income or loss attributable to common stockholders (computed in accordance with GAAP) as an indicator of our financial performance or to cash flow from operating activities (computed in accordance with GAAP) as an indicator of our liquidity, nor is it indicative of sufficient cash flow to fund all of our needs. Normalized FAD should be reviewed in connection with other GAAP measurements.

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SOURCE Healthcare Trust of America, Inc.