$19.58
+0.077%Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. As of September 30, 2020, the Company owned 211 real estate properties in 24 states totaling 15.5 million square feet and was valued at approximately $5.5 billion. The Company provided leasing and property management services to 11.9 million square feet nationwide.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $229.7M | $115.4M | $58.0M | $29.1M | $14.6M | $7.4M | $3.7M | $1.9M | $933.2K | $468.9K |
| Maintenance CapEx | -$33.2M | -$16.7M | -$8.4M | -$4.2M | -$2.1M | -$1.1M | -$534.0K | -$268.3K | -$134.8K | -$67.7K |
| Owner Earnings | $196.5M | $98.7M | $49.6M | $24.9M | $12.5M | $6.3M | $3.2M | $1.6M | $798.4K | $401.2K |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $181.9M | $84.6M | $39.4M | $18.3M | $8.5M | $4.0M | $1.8M | $858.5K | $399.4K | $185.8K |
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.