NASHVILLE - Healthcare Realty (NYSE:HR) Trust Incorporated (NYSE:HR), a real estate investment trust specializing in medical outpatient buildings, has announced changes to its Board of Directors in preparation for its upcoming annual stockholders meeting.
The company has nominated 11 of its existing 13 directors for re-election, effectively reducing the board's size from 13 to 11 members. This decision aligns with the company's post-merger expectations to gradually decrease board size.
Directors W. Bradley Blair, II, and Edward H. Braman, who are retiring upon the completion of their current terms, will not be standing for re-election at the annual meeting scheduled for May 21, 2024. The board expressed gratitude for their leadership and contributions during their tenure.
John Knox Singleton, Chairman of Healthcare Realty Trust , extended best wishes to the retiring directors. The company anticipates that the reduction in board members will not affect its operations or strategic direction, as it continues to selectively expand its portfolio through acquisitions and development.
Healthcare Realty Trust operates nearly 700 properties, totaling over 40 million square feet, primarily around hospital campuses in 15 growth markets. The company is recognized as the first and largest REIT to focus on medical outpatient buildings.
The announcement is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.