The board of Healthcare Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, has approved a $14.50 net asset value per share of the company’s common stock, as of December 31, 2020.
Previous NAVs per share were $15.75 per share as of December 31, 2019, and $17.50 per share as of December 31, 2018. Shares were originally priced at $25.00 each.
Duff & Phelps LLC, an independent third-party real estate advisory firm, assisted with the valuation and provided an NAV per share range of $13.16 – $14.96, with a midpoint of $14.03 per share – which is $0.47 lower than the declared NAV per share.
The range of values was based on the estimated fair value of the REIT’s assets, less the estimated fair value of its liabilities and the liquidation value of its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, divided by approximately 94.3 million shares of common stock outstanding as of December 31, 2020.
The REIT also declared a quarterly stock dividend of 0.014655 per share that will be paid on April 15, 2021 to shareholders of record at the close of business on April 12, 2021.
Healthcare Trust invests in multi-tenant medical office buildings and owned a $2.6 billion portfolio of 193 properties, as of the fourth quarter of 2020. The company’s primary offering was declared effective by the SEC in February 2013 and closed in November 2014 after raising $2.2 billion in investor equity.