{
  "docId": "019dd923-622c-750b-8b98-6c161919ee4d",
  "docSlug": "090aa5466284",
  "documentTitle": "Healthcare Trust of America, Inc. (HTA)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-06-07 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 21,
  "pageCount": 39,
  "prevPage": 20,
  "nextPage": 22,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 18,
  "notes": "Includes a red flag icon on the HTA data point to signify suspicion or anomaly.",
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  "metadataConfidence": 1,
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  "slideHref": "/slides/019dd923-622c-750b-8b98-6c161919ee4d/21",
  "deckHref": "/decks/019dd923-622c-750b-8b98-6c161919ee4d",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-6c161919ee4d.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-6c161919ee4d#slide-21",
  "components": [
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      "kind": "callout",
      "text": "Comparable MOB-focused REITs show significantly more volatility in their quarterly SPNOI results than HTA. Investors should be asking how is this possible, and if so, why has HTA's management chosen to operate its business in this manner, when no other company in the industry elects to do so.",
      "attrs": null,
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    {
      "bbox": null,
      "kind": "callout",
      "text": "Comparable MOB-focused REITs show significantly more volatility in their quarterly SPNOI results than HTA. Investors should be asking how is this possible, and if so, why has HTA’s management chosen to operate its business in this manner, when no other company in the industry elects to do so.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
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      "componentId": "019dd952-e6ec-7186-b7ce-be94921f69cc",
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        "h": 0.65,
        "w": 0.75,
        "x": 0.127,
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      "kind": "chart",
      "text": "Range of SSNOI Growth Over Time",
      "attrs": null,
      "subkind": "dot",
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      "componentId": "fd7940a6-934b-4d30-8460-2f5ab42a4f02",
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      "kind": "metric",
      "text": "Same-Property NOI growth: 3.1%",
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      "toolName": "Quantification",
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      "kind": "source-note",
      "text": "Source: Company filings. HTA 1Q18 SPNOI Growth excludes the MOBs located on its Forest Park campuses. WELL, VTR and HCP SPNOI growth is for the MOB portion of their real estate portfolio",
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      "kind": "title",
      "text": "Peer Group Comparison of SPNOI",
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      "matchId": "45dfd025-61c9-4dfd-b784-91dc2325886e",
      "evidence": "Compares HTA performance metrics against a peer group to highlight anomaly.",
      "confidence": 0.9
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  "arcBeats": [
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      "to": 27,
      "from": 17,
      "beatId": "901333d1-2a35-4f19-be44-2b4cb249a720",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "The sections on HTA's statistically improbable results, weaknesses in the accounting organization, and potential culprits of accounting issues, present the struggle to understand HTA's true financial situation.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
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  "locked": true
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