Company Quick10K Filing
Healthcare Trust of America
10-Q 2020-03-31 Filed 2020-05-06
10-K 2019-12-31 Filed 2020-02-18
10-Q 2019-09-30 Filed 2019-10-30
10-Q 2019-06-30 Filed 2019-07-24
10-Q 2019-03-31 Filed 2019-04-26
10-K 2018-12-31 Filed 2019-02-19
10-Q 2018-09-30 Filed 2018-10-26
10-Q 2018-06-30 Filed 2018-08-03
10-Q 2018-03-31 Filed 2018-04-30
10-K 2017-12-31 Filed 2018-02-20
10-Q 2017-09-30 Filed 2017-10-25
10-Q 2017-06-30 Filed 2017-08-01
10-Q 2017-03-31 Filed 2017-04-27
10-K 2016-12-31 Filed 2017-02-21
10-Q 2016-09-30 Filed 2016-10-26
10-Q 2016-06-30 Filed 2016-08-02
10-Q 2016-06-30 Filed 2016-08-03
10-Q 2016-03-31 Filed 2016-04-27
10-K 2015-12-31 Filed 2016-02-22
10-Q 2015-09-30 Filed 2015-10-28
10-Q 2015-06-30 Filed 2015-07-30
10-Q 2015-03-31 Filed 2015-05-06
10-K 2014-12-31 Filed 2015-02-23
10-Q 2014-09-30 Filed 2014-10-29
10-Q 2014-06-30 Filed 2014-07-30
10-Q 2014-03-31 Filed 2014-04-30
10-K 2013-12-31 Filed 2014-02-25
10-Q 2013-09-30 Filed 2013-11-05
10-Q 2013-06-30 Filed 2013-08-02
10-Q 2013-03-31 Filed 2013-05-08
10-K 2012-12-31 Filed 2013-03-01
10-Q 2012-09-30 Filed 2012-11-09
10-Q 2012-06-30 Filed 2012-08-09
10-Q 2012-03-31 Filed 2012-05-15
10-K 2011-12-31 Filed 2012-03-27
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-15
10-Q 2011-03-31 Filed 2011-05-16
10-K 2010-12-31 Filed 2011-03-25
10-Q 2010-09-30 Filed 2010-11-15
10-Q 2010-06-30 Filed 2010-08-16
10-Q 2010-03-31 Filed 2010-05-17
10-K 2009-12-31 Filed 2010-03-16
8-K 2020-06-01
8-K 2020-05-27
8-K 2020-05-05
8-K 2020-05-05
8-K 2020-04-27
8-K 2020-02-13
8-K 2020-02-13
8-K 2019-11-29
8-K 2019-10-28
8-K 2019-10-28
8-K 2019-09-16
8-K 2019-09-06
8-K 2019-09-03
8-K 2019-07-23
8-K 2019-07-23
8-K 2019-07-09
8-K 2019-07-09
8-K 2019-04-25
8-K 2019-04-25
8-K 2019-03-18
8-K 2019-02-26
8-K 2019-02-15
8-K 2019-02-14
8-K 2019-02-14
8-K 2018-12-28
8-K 2018-10-25
8-K 2018-10-25
8-K 2018-08-02
8-K 2018-08-02
8-K 2018-07-09
8-K 2018-07-09
8-K 2018-06-08
8-K 2018-04-30
8-K 2018-04-27
8-K 2018-04-23
8-K 2018-03-16
8-K 2018-02-15
8-K 2018-02-15

HTA 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements (Unaudited)
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31.1 a2020331ex311.htm
EX-31.2 a2020331ex312.htm
EX-31.3 a2020331ex313.htm
EX-31.4 a2020331ex314.htm
EX-32.1 a2020331ex321.htm
EX-32.2 a2020331ex322.htm
EX-32.3 a2020331ex323.htm
EX-32.4 a2020331ex324.htm

Healthcare Trust of America Earnings 2020-03-31

Balance SheetIncome StatementCash Flow

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from            to            
Commission File Number: 001-35568 (Healthcare Trust of America, Inc.)
Commission File Number: 333-190916 (Healthcare Trust of America Holdings, LP)
_________________________ 
HEALTHCARE TRUST OF AMERICA, INC.
HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
(Exact name of registrant as specified in its charter)
Maryland(Healthcare Trust of America, Inc.)20-4738467
Delaware(Healthcare Trust of America Holdings, LP)20-4738347
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
16435 N. Scottsdale Road, Suite 320,Scottsdale,Arizona85254
(480)
998-3478
(Address of Principal Executive Office and Zip Code)
(Registrant’s telephone number, including area code)

www.htareit.com
(Internet address)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common stock, $0.01 par valueHTANew York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    
Healthcare Trust of America, Inc.
Yes
¨ No
Healthcare Trust of America Holdings, LP
Yes
¨ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    
Healthcare Trust of America, Inc.
Yes
¨ No
Healthcare Trust of America Holdings, LP
Yes
¨ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Healthcare Trust of America, Inc.
Large accelerated filer Accelerated filer Non-accelerated filer
Healthcare Trust of America Holdings, LPLarge accelerated filer Accelerated filer
Non-accelerated filer

Healthcare Trust of America, Inc.Smaller reporting company Emerging growth company
Healthcare Trust of America Holdings, LPSmaller reporting company Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Healthcare Trust of America, Inc.
Healthcare Trust of America Holdings, LP
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    
Healthcare Trust of America, Inc.Yes
x No
Healthcare Trust of America Holdings, LPYes
x No
As of April 30, 2020, there were 218,480,985 shares of Class A common stock of Healthcare Trust of America, Inc. outstanding.




Explanatory Note
This quarterly report combines the Quarterly Reports on Form 10-Q (“Quarterly Report”) for the quarter ended March 31, 2020, of Healthcare Trust of America, Inc. (“HTA”), a Maryland corporation, and Healthcare Trust of America Holdings, LP (“HTALP”), a Delaware limited partnership. Unless otherwise indicated or unless the context requires otherwise, all references in this Quarterly Report to “we,” “us,” “our,” “the Company” or “our Company” refer to HTA and HTALP, collectively, and all references to “common stock” shall refer to the Class A common stock of HTA.
HTA operates as a real estate investment trust (“REIT”) and is the general partner of HTALP. As of March 31, 2020, HTA owned a 98.4% partnership interest in HTALP, and other limited partners, including some of HTA’s directors, executive officers and their affiliates, owned the remaining partnership interest (including the long-term incentive plan (“LTIP” Units)) in HTALP. As the sole general partner of HTALP, HTA has the full, exclusive and complete responsibility for HTALP’s day-to-day management and control, including its compliance with the Securities and Exchange Commission (“SEC”) filing requirements.
We believe it is important to understand the few differences between HTA and HTALP in the context of how we operate as an integrated consolidated company. HTA operates as an umbrella partnership REIT structure in which HTALP and its subsidiaries hold substantially all of the assets. HTA’s only material asset is its ownership of partnership interests of HTALP. As a result, HTA does not conduct business itself, other than acting as the sole general partner of HTALP, issuing public equity from time to time and guaranteeing certain debts of HTALP. HTALP conducts the operations of the business and issues publicly-traded debt, but has no publicly-traded equity. Except for net proceeds from public equity issuances by HTA, which are generally contributed to HTALP in exchange for partnership units of HTALP, HTALP generates the capital required for the business through its operations and by direct or indirect incurrence of indebtedness or through the issuance of its partnership units (“OP Units”).
Noncontrolling interests, stockholders’ equity and partners’ capital are the primary areas of difference between the condensed consolidated financial statements of HTA and HTALP. Limited partnership units in HTALP are accounted for as partners’ capital in HTALP’s condensed consolidated balance sheets and as a noncontrolling interest reflected within equity in HTA’s condensed consolidated balance sheets. The differences between HTA’s stockholders’ equity and HTALP’s partners’ capital are due to the differences in the equity issued by HTA and HTALP, respectively.
We believe combining the Quarterly Reports of HTA and HTALP, including the notes to the condensed consolidated financial statements, into this single Quarterly Report results in the following benefits:
enhances stockholders’ understanding of HTA and HTALP by enabling stockholders to view the business as a whole in the same manner that management views and operates the business;
eliminates duplicative disclosure and provides a more streamlined and readable presentation since a substantial portion of the disclosure in this Quarterly Report applies to both HTA and HTALP; and
creates time and cost efficiencies through the preparation of a single combined Quarterly Report instead of two separate Quarterly Reports.
In order to highlight the material differences between HTA and HTALP, this Quarterly Report includes sections that separately present and discuss areas that are materially different between HTA and HTALP, including:
the condensed consolidated financial statements;
certain accompanying notes to the condensed consolidated financial statements, including Note 8 - Debt, Note 11 - Stockholders’ Equity and Partners’ Capital, Note 13 - Per Share Data of HTA, and Note 14 - Per Unit Data of HTALP;
as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), the Funds From Operations (“FFO”) and Normalized FFO in Part 1, Item 2 of this Quarterly Report;
the Controls and Procedures in Part 1, Item 4 of this Quarterly Report; and
the Certifications of the Chief Executive Officer and the Chief Financial Officer included as Exhibits 31 and 32 to this Quarterly Report.
In the sections of this Quarterly Report that combine disclosure for HTA and HTALP, this Quarterly Report refers to actions or holdings as being actions or holdings of the Company. Although HTALP (directly or indirectly through one of its subsidiaries) is generally the entity that enters into contracts, holds assets and issues or incurs debt, management believes this presentation is appropriate for the reasons set forth above and because the business of the Company is a single integrated enterprise operated through HTALP.
2



HEALTHCARE TRUST OF AMERICA, INC. AND
HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
TABLE OF CONTENTS
 
  Page
Healthcare Trust of America, Inc.
Healthcare Trust of America Holdings, LP
Notes for Healthcare Trust of America, Inc. and Healthcare Trust of America Holdings, LP





3



PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except for share and per share data)
(Unaudited)
March 31, 2020December 31, 2019
ASSETS
Real estate investments:
Land$587,363  $584,546  
Building and improvements6,313,199  6,252,854  
Lease intangibles630,535  628,066  
Construction in progress40,350  28,150  
7,571,447  7,493,616  
Accumulated depreciation and amortization(1,519,845) (1,447,815) 
Real estate investments, net
6,051,602  6,045,801  
Investment in unconsolidated joint venture65,526  65,888  
Cash and cash equivalents216,515  32,713  
Restricted cash4,957  4,903  
Receivables and other assets, net 235,022  237,024  
Right-of-use assets - operating leases, net238,516  239,867  
Other intangibles, net12,041  12,553  
Total assets $6,824,179  $6,638,749  
LIABILITIES AND EQUITY
Liabilities:
Debt $2,959,723  $2,749,775  
Accounts payable and accrued liabilities154,842  171,698  
Derivative financial instruments - interest rate swaps19,480  29  
Security deposits, prepaid rent and other liabilities49,895  49,174  
Lease liabilities - operating leases198,628  198,650  
Intangible liabilities, net36,659  38,779  
Total liabilities 3,419,227  3,208,105  
Commitments and contingencies
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; 218,482,526 and 216,453,312 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively
2,185  2,165  
Additional paid-in capital 4,909,397  4,854,042  
Accumulated other comprehensive (loss) income(17,592) 4,546  
Cumulative dividends in excess of earnings(1,553,710) (1,502,744) 
Total stockholders’ equity3,340,280  3,358,009  
Noncontrolling interests64,672  72,635  
Total equity3,404,952  3,430,644  
Total liabilities and equity $6,824,179  $6,638,749  
The accompanying notes are an integral part of these condensed consolidated financial statements.
4



HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except for per share data)
(Unaudited)
Three Months Ended March 31,
20202019
Revenues:
Rental income$185,531  $168,875  
Interest and other operating income
245  91  
Total revenues185,776  168,966  
Expenses:
Rental56,862  51,468  
General and administrative11,518  11,290  
Transaction140  40  
Depreciation and amortization77,665  69,481  
Interest expense
23,872  23,970  
Total expenses170,057  156,249  
Gain (loss) on sale of real estate, net1,991  (37) 
Income from unconsolidated joint venture422  486  
Other income 76  535  
Net income $18,208  $13,701  
Net income attributable to noncontrolling interests (1)
(307) (261) 
Net income attributable to common stockholders $17,901  $13,440  
Earnings per common share - basic:
Net income attributable to common stockholders
$0.08  $0.07  
Earnings per common share - diluted:
Net income attributable to common stockholders
$0.08  $0.06  
Weighted average common shares outstanding:
Basic216,692  205,080  
Diluted220,623  208,999  
(1) Includes amounts attributable to redeemable noncontrolling interests for the three months ended March 31, 2019.
The accompanying notes are an integral part of these condensed consolidated financial statements.
5



HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
(In thousands)
(Unaudited)
Three Months Ended March 31,
20202019
Net income $18,208  $13,701  
Other comprehensive income (loss)
Change in unrealized losses on cash flow hedges
(22,498) (390) 
Total other comprehensive loss(22,498) (390) 
Total comprehensive (loss) income (4,290) 13,311  
Comprehensive loss (income) attributable to noncontrolling interests
53  (225) 
Total comprehensive (loss) income attributable to common stockholders
$(4,237) $13,086  
The accompanying notes are an integral part of these condensed consolidated financial statements.

6



HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
(In thousands)
(Unaudited)
 Class A Common StockAdditional Paid-In CapitalAccumulated Other Comprehensive Income (Loss)Cumulative Dividends in Excess of EarningsTotal Stockholders’ EquityNoncontrolling InterestsTotal Equity
 SharesAmount
Balance as of December 31, 2018
205,267  $2,053  $4,525,969  $307  $(1,272,305) $3,256,024  $78,890  $3,334,914  
Share-based award transactions, net
293  3  3,386  —  —  3,389  —  3,389  
Repurchase and cancellation of common stock
(478) (5) (11,921) —  —  (11,926) —  (11,926) 
Redemption of noncontrolling interest and other
18  —  527  —  —  527  (527)   
Dividends declared ($0.310 per common share)
—  —  —  —  (63,578) (63,578) (1,306) (64,884) 
Net income
—  —  —  —  13,440  13,440  233  13,673  
Other comprehensive loss
—  —  —  (382) —  (382) (8) (390) 
Balance as of March 31, 2019
205,100  $2,051  $4,517,961  $(75) $(1,322,443) $3,197,494  $77,282  $3,274,776  

Balance as of December 31, 2019
216,453  $2,165  $4,854,042  $4,546  $(1,502,744) $3,358,009  $72,635  $3,430,644  
Issuance of common stock, net  1,675  17  50,003  —  —  50,020  —  50,020  
Share-based award transactions, net
236  2  3,201  —  —  3,203  —  3,203  
Repurchase and cancellation of common stock
(154) (2) (4,622) —  —  (4,624) —  (4,624) 
Redemption of noncontrolling interest and other
273  3  6,773  —  —  6,776  (6,776)   
Dividends declared ($0.315 per common share)
—  —  —  —  (68,867) (68,867) (1,134) (70,001) 
Net income
—  —  —  —  17,901  17,901  307  18,208  
Other comprehensive loss
—  —  —  (22,138) —  (22,138) (360) (22,498) 
Balance as of March 31, 2020
218,483  $2,185  $4,909,397  $(17,592) $(1,553,710) $3,340,280  $64,672  $3,404,952  
The accompanying notes are an integral part of these condensed consolidated financial statements.




7



HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Three Months Ended March 31,
 20202019
Cash flows from operating activities:
Net income $18,208  $13,701  
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
72,949  66,528  
Share-based compensation expense3,203  3,389  
Income from unconsolidated joint venture(422) (486) 
Distributions from unconsolidated joint venture885  750  
(Gain) loss on sale of real estate, net(1,991) 37  
Changes in operating assets and liabilities:
Receivables and other assets, net1,196  2,546  
Accounts payable and accrued liabilities(19,662) (40,402) 
Security deposits, prepaid rent and other liabilities1,055  2,492  
Net cash provided by operating activities75,421  48,555  
Cash flows from investing activities:
Investments in real estate (41,338) (18,592) 
Development of real estate(12,103) (2,014) 
Proceeds from the sale of real estate6,420  1,193  
Capital expenditures(23,793) (16,815) 
Collection of real estate notes receivable191  181  
Advances on real estate notes receivable(6,000)   
Net cash used in investing activities(76,623) (36,047) 
Cash flows from financing activities:
Borrowings on unsecured revolving credit facility720,000    
Payments on unsecured revolving credit facility(415,000)   
Payments on secured mortgage loans(95,602) (587) 
Proceeds from issuance of common stock50,020    
Repurchase and cancellation of common stock(4,624) (11,926) 
Dividends paid(68,227) (63,686) 
Distributions paid to noncontrolling interest of limited partners(1,509) (1,364) 
Net cash provided by (used in) financing activities185,058  (77,563) 
Net change in cash, cash equivalents and restricted cash183,856  (65,055) 
Cash, cash equivalents and restricted cash - beginning of period37,616  133,530  
Cash, cash equivalents and restricted cash - end of period$221,472  $68,475  
The accompanying notes are an integral part of these condensed consolidated financial statements.
8



HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except unit data)
(Unaudited)
March 31, 2020December 31, 2019
ASSETS
Real estate investments:
Land$587,363  $584,546  
Building and improvements6,313,199  6,252,854  
Lease intangibles630,535  628,066  
Construction in progress40,350  28,150  
7,571,447  7,493,616  
Accumulated depreciation and amortization(1,519,845) (1,447,815) 
Real estate investments, net
6,051,602  6,045,801  
Investment in unconsolidated joint venture65,526  65,888  
Cash and cash equivalents216,515  32,713  
Restricted cash 4,957  4,903  
Receivables and other assets, net235,022  237,024  
Right-of-use assets - operating leases, net238,516  239,867  
Other intangibles, net12,041  12,553  
Total assets$6,824,179  $6,638,749  
LIABILITIES AND PARTNERS’ CAPITAL
Liabilities:
Debt$2,959,723  $2,749,775  
Accounts payable and accrued liabilities154,842  171,698  
Derivative financial instruments - interest rate swaps19,480  29  
Security deposits, prepaid rent and other liabilities49,895  49,174  
Lease liabilities - operating leases198,628  198,650  
Intangible liabilities, net36,659  38,779  
Total liabilities3,419,227  3,208,105  
Commitments and contingencies
Partners’ Capital:
Limited partners’ capital, 3,561,260 and 3,834,279 units issued and outstanding
     as of March 31, 2020 and December 31, 2019, respectively
64,402  72,365  
General partners’ capital, 218,482,526 and 216,453,312 units issued and outstanding as of March 31, 2020 and December 31, 2019, respectively
3,340,550  3,358,279  
Total partners’ capital3,404,952  3,430,644  
Total liabilities and partners’ capital$6,824,179  $6,638,749  
The accompanying notes are an integral part of these condensed consolidated financial statements.

9



HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per unit data)
(Unaudited)
Three Months Ended March 31,
20202019
Revenues:
Rental income$185,531  $168,875  
Interest and other operating income
245  91  
Total revenues185,776  168,966  
Expenses:
Rental56,862  51,468  
General and administrative11,518  11,290  
Transaction140  40  
Depreciation and amortization77,665  69,481  
Interest expense23,872  23,970  
Total expenses170,057  156,249  
Gain (loss) on sale of real estate, net1,991  (37) 
Income from unconsolidated joint venture422  486  
Other income 76  535  
Net income$18,208  $13,701  
Net income attributable to noncontrolling interests
  (28) 
Net income attributable to common unitholders$18,208  $13,673  
Earnings per common OP Unit - basic:
Net income attributable to common unitholders
$0.08  $0.07  
Earnings per common OP Unit - diluted:
Net income attributable to common unitholders
$0.08  $0.07  
Weighted average common OP Units outstanding: 
Basic220,368  208,999  
Diluted220,623  208,999  
The accompanying notes are an integral part of these condensed consolidated financial statements.
10



HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
(In thousands)
(Unaudited)
Three Months Ended March 31,
20202019
Net income $18,208  $