Healthcare Realty Trust Inc. launched a public offering of 3,250,000 common shares and plans to grant a 30-day option to the underwriters to acquire up to 487,500 additional shares.

Based on the healthcare real estate investment trust's March 14 closing stock price of $31.90 per share, gross offering proceeds, including the additional-share option, are expected to total approximately $119.2 million.

Healthcare Realty Trust aims to use the net proceeds to buy and develop outpatient healthcare facilities, among other general corporate purposes.

Wells Fargo Securities and BMO Capital Markets are the joint book-running managers for the offering.