HealthCare Trust of America gains after company says evaluating alternatives

November 5, 2021 | Joshua Fineman | SA News Editor

• HealthCare Trust of America (NYSE:HTA) gained 2% after the company earlier said its evaluating options including a potential sale.

• Healthcare Trust (HTA) is also considering joint ventures and partnerships, asset sales or remaining as a stand-alone company, according to a statement in its Q3 earnings release.

• The potential sale comes after activist Elliott Management has been pressuring the company to sell itself since at least last month.

• “Elliott supports HTA’s announcement today to run a strategic review, including the evaluation of a sale of the Company,” Elliott said in a statement today. “As we have stated, we believe that a number of potential buyers are interested in HTA’s attractive collection of assets.”

• HTA management on the Q3 conference call declined to provide any more details about the strategic alternatives process. An executive declined to say if the company had received any unsolicited bids.

• Recall in August, Healthcare Trust of America Chairman and CEO resigned, effective immediately.

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