SCOTTSDALE, Ariz., Aug. 6, 2012 /PRNewswire/ -- Healthcare Trust of America, Inc. (NYSE:HTA) ("HTA") (the "Company"), a leading owner of medical office buildings, announced today that its Board of Directors' approved a stock repurchase program authorizing the Company to purchase up to $100 million of its Class A common stock from time to time prior to August 5, 2014.
Stock may be repurchased in open market or in privately negotiated transactions, and the amount and timing of any repurchases, will be dependent on various factors, including the Company's capital position and needs, market conditions, other capital management objectives and opportunities, and applicable legal requirements. The Company intends to finance any stock repurchases through available cash and its revolving credit facility.
"We are committed to effectively using our capital, when appropriate, to increase shareholder value," said Scott D. Peters, Chairman and Chief Executive Officer of the Company. "We believe the strength of our balance sheet, the quality of our portfolio and the stability of our cash flow affords us a strong capital allocation strategy."
About Healthcare Trust of America, Inc.Healthcare Trust of America, Inc. (NYSE:HTA), a publicly traded real estate investment trust, is a fully-integrated, leading owner of medical office buildings. HTA listed its shares on the New York Stock Exchange on June 6, 2012. HTA is a full-service real estate company focused on acquiring, owning and operating high-quality medical office buildings that are located on the campuses of nationally recognized healthcare systems in the major U.S. metropolitan areas. Since its formation in 2006, HTA has built a portfolio of properties that totals approximately $2.5 billion based on purchase price and is comprised of approximately 12.4 million square feet of gross leasable area located in 26 states. For more information on Healthcare Trust of America, Inc., please visit www.htareit.com. FORWARD-LOOKING LANGUAGE This press release contains certain forward-looking statements about the Company's stock repurchase program, including the potential size and timing of any such repurchases. Forward-looking statements are based on current expectations, plans, estimates, assumptions and beliefs, including expectations, plans, estimates, assumptions and beliefs about the Company, the real estate industry and the debt and equity capital markets. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.