Healthcare Trust of America, Inc. Class A

Good day and welcome to the Healthcare Trust of America fourth quarter and full year 2020 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to David Gershenson, CAO. Please go ahead, sir.

Thank you, and welcome to Healthcare Trust of America's fourth quarter and year-end 2020 earnings call. We filed our earnings release and our financial supplement yesterday after the close. These documents can be found on the investor relations section of our website or with the SEC. Please note this call is being webcast and will be available for replay for the next 90 days. We'll be happy to take your questions at the conclusion of our prepared remarks. During the course of the call, we'll make forward-looking statements. These forward-looking statements are based on the current beliefs of management and information currently available to us. Our actual results will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance. Therefore, our actual future results could materially differ from our current expectations. For a detailed description on potential risks, please refer to our SEC filings, which can be found in the investor relations section of our website. I will now turn the call over to Scott Peters, Chairman and CEO of Healthcare Trust of America. Scott?

Good morning, and thank you for joining us today for Healthcare Trust of America's year-end 2020 earnings conference call. Joining me on the call today is Robert Milliken, our Chief Financial Officer. As we sit here today, it is hard to believe that it is almost one full year since the COVID-19 pandemic took hold. While its impact has been devastating for many individuals and communities, it has been encouraging to see the resiliency of our healthcare systems and providers, which are seeing patient volumes returned at pre-pandemic levels while continuing to treat patients. In addition, it is important to recognize the performance of our company and our team, which has worked through these challenging times and manage to keep our buildings open and operational and our employees safe and our business moving forward. Despite these challenges, I am happy to report that HTA has continued to improve our enterprise value and deliver strong financial performance for shareholders in 2020. This is the hallmark of HTA's position as a leader in the medical office sector. In the third quarter, we generated record earnings for HTA And we have followed that up in the fourth quarter with a return to our customary growth and acquisition velocity. The full year, we delivered record earnings of $1.71 per share of normalized FFO, up more than 4% from 2019 and in the middle of our guidance provided at the start of the year. We raised our dividends for the seventh year in a row, a level of consistency and growth that is unparalleled within the MOV-focused REITs. We signed a record number of leases, 3.9 million square feet or more than 17% of our existing portfolio and did so at a record releasing spreads up almost 5%. Tenant retention for the year was very strong at 87%. We collected almost all of our rent while still finding ways to work with our key healthcare relationships as they navigated this pandemic. We closed on 181 million of MOVs in an attractive year, one yield of 6%, and maintained our development progress at even higher yields. Finally, we have raised a significant amount of long-term capital that gives us a strong and conservative balance sheet with more than $1.4 billion of liquidity and no near-term debt maturities. As a result, HTA is in a very strong position heading into 2021, as outlined in our re- and stated earnings guidance that we put out last night. I'll now turn the call over to Robert, who will walk through our performance for the quarter and the year.