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Healthcare Realty Trust Announces First Quarter Dividend
Date:5/11/2009

NASHVILLE, Tenn., May 11 /PRNewswire-FirstCall/ -- Healthcare Realty Trust Incorporated (NYSE: HR) today announced its common stock cash dividend for the quarter ended March 31, 2009. This dividend, in the amount of $0.385 per share, is payable on June 5, 2009 to shareholders of record on May 22, 2009. The total dividend of $22.8 million is approximately 83 percent of cash flows from operations determined in accordance with GAAP. The Company's cash flow statement is provided below.

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. The Company had investments of approximately $2.1 billion in 204 real estate properties and mortgages as of March 31, 2009, excluding assets classified as held for sale and including an investment in one unconsolidated joint venture. The Company's 199 owned real estate properties, excluding assets classified as held for sale, are comprised of six facility types, located in 28 states, totaling approximately 12.1 million square feet. The Company provides property management services to approximately 8.5 million square feet nationwide.

In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2008 under the heading "Risk Factors," and as updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims any obligation to update forward-looking material.

                      HEALTHCARE REALTY TRUST INCORPORATED
               Condensed Consolidated Statements of Cash Flows (1)
                             (Dollars in thousands)
                                   (Unaudited)

                                                            Three Months Ended
                                                              March 31, 2009
                                                              --------------

      Cash flows from operating activities:
        Net income                                                  $20,880
          Non-cash items:
          ---------------
          Depreciation and amortization - real estate                16,872
          Depreciation and amortization - other                         808
          Provision for bad debt, net of recoveries                     437
          Impairments                                                    22
          Straight-line rent receivable                                (353)
          Straight-line rent liability                                  113
          Equity in losses from unconsolidated joint ventures             2
          Stock-based compensation                                    1,288
          Provision for deferred post-retirement benefits             1,492
          Re-measurement gain of equity interest upon
           acquisition                                               (2,701)
          Other non-cash items                                          254
                                                                        ---
             Total non-cash items                                    18,234

          Other items:
          ------------
          Accounts payable and accrued liabilities                    1,090
          Other liabilities                                             981
          Other assets                                                1,199
          Gain on sales of real estate properties                   (12,609)
          Payment of partial pension settlement                      (2,300)
          State income taxes paid, net of refunds                        53
                                                                         --
             Total other items                                      (11,586)
                                                                    -------
          Net cash provided by operating activities (2)(3)           27,528
          ------------------------------------------------           ------

      Cash flows from investing activities:
        Acquisition and development of real estate properties       (33,076)
        Funding of mortgages and notes receivable                    (3,451)
        Distributions received from unconsolidated
         joint ventures                                                   -
        Proceeds from sales of real estate                           63,907
        Proceeds from mortgages and notes receivable
         repayments                                                      38
                                                                         --
          Net cash provided by investing activities                  27,418

      Cash flows from financing activities:
        Net repayment on unsecured credit facility                   (4,000)
        Repayments on notes and bonds payable                       (20,548)
        Dividends paid related to the fourth quarter 2008           (22,829)
        Proceeds from issuance of common stock                          183
        Proceeds received from noncontrolling interests                 529
        Distributions to noncontrolling interests                       (43)
                                                                        ---
          Net cash used in financing activities                     (46,708)
                                                                    -------

      Increase in cash and cash equivalents                           8,238
      Cash and cash equivalents, beginning of period                  4,138
                                                                      -----
      Cash and cash equivalents, end of period                      $12,376
                                                                    =======


    (1) The Condensed Consolidated Statements of Cash Flows do not include
        all of the information and footnotes required by generally accepted
        accounting principles for complete financial statements.
    (2) First quarter 2009 dividends to be paid of $22.8 million, divided by
        'Net cash provided by operating activities' of $27.5 million, is equal
        to 83%.
    (3) Net cash provided by operating activities will fluctuate significantly
        quarter to quarter based on the Company's operating results, as well
        as the timing of certain payments of the Company's obligations.


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SOURCE Healthcare Realty Trust
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