1、2019Annual Report to ShareholdersANNUAL REPORT TO SHAREHOLDERS|1Healthcare Realtys steady progress in 2019 marked another successful year for the Company,centered on the growth of our medical office and outpatient facilities.This growth has been cultivated over three decades of a firm commitment to
2、owning a distinct portfolio of hospital-centric outpatient facilities that are affiliated with respected healthcare providers in strong demo-graphic markets.Our relationships are driving increased acquisition and development opportunities as health systems evolve to meet greater demand from an aging
3、 population.Our strategy remains on point,differenti-ated by our selective investment criteria,low business risk profile and conservative balance sheet.Healthcare Realty remains committed to building on the foundation and vision of our founder David R.Emery,Chairman Emeritus and Director,who passed
4、away on September 30,2019.Over the past few years,Mr.Emery adeptly managed the transition of the Companys lead-ership,including executive management and the board of directors.Mr.Emerys contribution to the sector and to Healthcare Realty will not be forgotten.An expression of our gratitude is includ
5、ed herein.2019 was defined by the continued strong performance of the Companys same store properties,complemented by an increased acquisition pace.Combined,these factors con-tributed to a normalized FFO per share increase of 1.7%.FFO per share gained momentum in the second half of the year,with four
6、th quarter FFO per share increasing 4.0%year-over-year to$0.41,built on solid fundamentals and sustainable internal and external growth.Healthcare Realtys operations continued to generate positive same store NOI growth of approximately 3%,led by the reliably strong leasing fundamentals of our multi-