Community Healthcare Trust Announces Results for the Three Months Ended March 31, 2025
Community Healthcare Trust reported its Q1 2025 financial results, with net income of $1.6 million ($0.03 per diluted share). The company's FFO and AFFO were $0.47 and $0.55 per diluted share, respectively.
Key highlights:
- Acquired a property for $9.7 million with a lease extending to 2040
- Has seven properties under purchase agreements worth $169.5 million
- Expected returns on investments range from 9.1% to 9.75%
- Disposed of a building in Ohio for $0.6 million
- Maintains ATM Program with potential sales up to $300.0 million
The Board declared a quarterly dividend of $0.47 per share, payable May 23, 2025. The company continues monitoring its geriatric psychiatric hospital operator tenant, who paid $0.2 million in rent and interest during Q1 2025.
Community Healthcare Trust ha comunicato i risultati finanziari del primo trimestre 2025, con un utile netto di 1,6 milioni di dollari (0,03 dollari per azione diluita). Il FFO e l'AFFO della società sono stati rispettivamente di 0,47 e 0,55 dollari per azione diluita.
Punti salienti:
- Acquisito un immobile per 9,7 milioni di dollari con un contratto di locazione fino al 2040
- Sette proprietà in fase di acquisto per un valore complessivo di 169,5 milioni di dollari
- Rendimenti attesi sugli investimenti tra il 9,1% e il 9,75%
- Venduto un edificio in Ohio per 0,6 milioni di dollari
- Mantenuto il Programma ATM con potenziali vendite fino a 300 milioni di dollari
Il Consiglio ha dichiarato un dividendo trimestrale di 0,47 dollari per azione, pagabile il 23 maggio 2025. La società continua a monitorare il suo inquilino operatore di ospedali psichiatrici geriatrici, che ha versato 0,2 milioni di dollari in affitti e interessi durante il primo trimestre 2025.
Community Healthcare Trust reportó sus resultados financieros del primer trimestre de 2025, con una utilidad neta de 1,6 millones de dólares (0,03 dólares por acción diluida). El FFO y AFFO de la compañía fueron de 0,47 y 0,55 dólares por acción diluida, respectivamente.
Puntos clave:
- Adquirió una propiedad por 9,7 millones de dólares con un contrato de arrendamiento hasta 2040
- Siete propiedades bajo acuerdos de compra por un total de 169,5 millones de dólares
- Retornos esperados en las inversiones entre 9,1% y 9,75%
- Vendió un edificio en Ohio por 0,6 millones de dólares
- Mantiene el Programa ATM con ventas potenciales de hasta 300 millones de dólares
La Junta declaró un dividendo trimestral de 0,47 dólares por acción, pagadero el 23 de mayo de 2025. La empresa continúa monitoreando a su inquilino operador de hospital psiquiátrico geriátrico, quien pagó 0,2 millones de dólares en renta e intereses durante el primer trimestre de 2025.
커뮤니티 헬스케어 트러스트는 2025년 1분기 재무 실적을 발표했으며, 순이익은 160만 달러(희석 주당 0.03달러)였습니다. 회사의 FFO와 AFFO는 각각 희석 주당 0.47달러와 0.55달러였습니다.
주요 내용:
- 2040년까지 임대 계약이 연장된 부동산을 970만 달러에 인수
- 총 1억 6,950만 달러 규모의 7개 부동산 매입 계약 체결
- 투자 예상 수익률은 9.1%에서 9.75% 사이
- 오하이오에 있는 건물을 60만 달러에 매각
- 최대 3억 달러 규모의 ATM 프로그램 유지
이사회는 2025년 5월 23일 지급 예정인 주당 0.47달러의 분기 배당금을 선언했습니다. 회사는 2025년 1분기에 20만 달러의 임대료와 이자를 납부한 노인 정신과 병원 운영자 임차인을 지속적으로 모니터링하고 있습니다.
Community Healthcare Trust a publié ses résultats financiers du premier trimestre 2025, avec un revenu net de 1,6 million de dollars (0,03 dollar par action diluée). Le FFO et l'AFFO de la société étaient respectivement de 0,47 et 0,55 dollar par action diluée.
Points clés :
- Acquisition d'une propriété pour 9,7 millions de dollars avec un bail jusqu'en 2040
- Sept propriétés sous contrats d'achat d'une valeur totale de 169,5 millions de dollars
- Rentabilités attendues sur les investissements comprises entre 9,1 % et 9,75 %
- Vente d'un bâtiment dans l'Ohio pour 0,6 million de dollars
- Maintien du programme ATM avec des ventes potentielles allant jusqu'à 300 millions de dollars
Le conseil d'administration a déclaré un dividende trimestriel de 0,47 dollar par action, payable le 23 mai 2025. La société continue de surveiller son locataire, un exploitant d'hôpital psychiatrique gériatrique, qui a versé 0,2 million de dollars en loyers et intérêts au cours du premier trimestre 2025.
Community Healthcare Trust meldete seine Finanzergebnisse für das erste Quartal 2025 mit einem Nettogewinn von 1,6 Millionen US-Dollar (0,03 US-Dollar pro verwässerter Aktie). Der FFO und AFFO des Unternehmens betrugen jeweils 0,47 bzw. 0,55 US-Dollar pro verwässerter Aktie.
Wichtige Highlights:
- Erwerb einer Immobilie für 9,7 Millionen US-Dollar mit einem Mietvertrag bis 2040
- Sieben Immobilien unter Kaufverträgen im Wert von 169,5 Millionen US-Dollar
- Erwartete Renditen der Investitionen zwischen 9,1 % und 9,75 %
- Verkauf eines Gebäudes in Ohio für 0,6 Millionen US-Dollar
- Aufrechterhaltung des ATM-Programms mit potenziellen Verkäufen von bis zu 300 Millionen US-Dollar
Der Vorstand erklärte eine Quartalsdividende von 0,47 US-Dollar pro Aktie, zahlbar am 23. Mai 2025. Das Unternehmen überwacht weiterhin seinen Mieter, einen Betreiber eines geriatrischen psychiatrischen Krankenhauses, der im ersten Quartal 2025 Miete und Zinsen in Höhe von 0,2 Millionen US-Dollar gezahlt hat.
- Acquired new property for $9.7M with long-term lease until 2040
- Seven properties under purchase agreements worth $169.5M with expected returns of 9.1-9.75%
- Maintained quarterly dividend at $0.47 per share
- New $300M ATM program established with forward sale capabilities
- Low net income of $1.6M ($0.03 per diluted share)
- Geriatric psychiatric hospital tenant (6 properties) under financial stress, reviewing strategic alternatives
- Disposed of Ohio building for only $0.6M in proceeds
- Increased debt by using Revolving Credit Facility for new acquisition
Insights
Community Healthcare Trust reports mixed Q1 2025 results with ongoing property acquisitions and a maintained dividend amid tenant uncertainty.
Community Healthcare Trust's Q1 2025 financial report shows net income of $1.6 million ($0.03 per diluted share), with the more REIT-relevant metrics of FFO at $0.47 and AFFO at $0.55 per diluted share. The company's board declared a quarterly dividend of $0.47 per share, matching exactly their FFO figure.
The REIT continues its growth strategy, acquiring a $9.7 million property during the quarter through a sale-leaseback transaction. Additionally, they've lined up seven properties under definitive purchase agreements worth approximately $169.5 million with expected returns between
A noteworthy risk factor appears in the tenant update section. A geriatric psychiatric hospital operator leasing six properties is reviewing strategic alternatives, including potential hospital sales. While they paid
The company also disposed of an Ohio property in April for
Items Impacting Our Results include:
- During the first quarter of 2025, the Company acquired a property for cash consideration of approximately
$9.7 million $1.4 million - In April 2025, the Company disposed of a building in
Ohio and received net proceeds of approximately$0.6 million - The Company has seven properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately
$169.5 million 9.1% to9.75% . The Company anticipates closing on these properties throughout 2025, 2026 and 2027; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close. - During the first quarter of 2025, the geriatric psychiatric hospital operator, a tenant in six of the Company's properties, paid rent and interest of
$0.2 million - As previously announced, on February 18, 2025, the Company entered into a Third Amended and Restated Sales Agency Agreement under its at-the-market offering program ("ATM Program") and may issue and sell shares of its common stock, having an aggregate gross sales price of up to
$300.0 million - On April 24, 2025, the Company's Board of Directors declared a quarterly common stock dividend in the amount of
$0.47
About Community Healthcare Trust Incorporated
Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout
Additional information regarding the Company, including this quarter's operations, can be found at www.chct.reit. Please contact the Company at 615-771-3052 to request a printed copy of this information.
Cautionary Note Regarding Forward-Looking Statements
In addition to the historical information contained within, the matters discussed in this press release may contain "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, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "believes", "expects", "may", "will," "should", "seeks", "approximately", "intends", "plans", "estimates", "anticipates" or other similar words or expressions, including the negative thereof. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Community Healthcare Trust Incorporated (the "Company"). Thus, the Company's actual results and financial condition may differ materially from those indicated in such forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, changes in the real estate industry in general, interest rates or the general economy, adverse developments related to the healthcare industry, changes in governmental regulations, the degree and nature of the Company's competition, the ability to consummate acquisitions under contract, catastrophic or extreme weather and other natural events and the physical effects of climate change, the occurrence of cyber incidents, effects on global and national markets as well as businesses resulting from increased inflation, changes in interest rates, supply chain disruptions, labor conditions, tariffs and global trade tensions, and/or the conflicts in
COMMUNITY HEALTHCARE TRUST INCORPORATED CONSOLIDATED BALANCE SHEETS (Dollars and shares in thousands, except per share amounts) | |||
(Unaudited) | |||
March 31, 2025 | December 31, 2024 | ||
ASSETS | |||
Real estate properties: | |||
Land and land improvements | $ 149,506 | $ 149,501 | |
Buildings, improvements, and lease intangibles | 998,933 | 996,104 | |
Personal property | 333 | 326 | |
Total real estate properties | 1,148,772 | 1,145,931 | |
Less accumulated depreciation | (253,537) | (242,609) | |
Total real estate properties, net | 895,235 | 903,322 | |
Cash and cash equivalents | 2,271 | 4,384 | |
Assets held for sale | 6,755 | 6,755 | |
Other assets, net | 80,853 | 78,102 | |
Total assets | $ 985,114 | $ 992,563 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Liabilities | |||
Debt, net | $ 496,016 | $ 485,955 | |
Accounts payable and accrued liabilities | 12,058 | 14,289 | |
Other liabilities, net | 15,719 | 16,354 | |
Total liabilities | 523,793 | 516,598 | |
Commitments and contingencies | |||
Stockholders' Equity | |||
Preferred stock, | — | — | |
Common stock, | 283 | 282 | |
Additional paid-in capital | 706,776 | 704,524 | |
Cumulative net income | 87,266 | 85,675 | |
Accumulated other comprehensive gain | 12,402 | 17,631 | |
Cumulative dividends | (345,406) | (332,147) | |
Total stockholders' equity | 461,321 | 475,965 | |
Total liabilities and stockholders' equity | $ 985,114 | $ 992,563 | |
The Consolidated Balance Sheets do not include all of the information and footnotes required by accounting principles generally accepted in |
COMMUNITY HEALTHCARE TRUST INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 (Unaudited; Dollars and shares in thousands, except per share amounts) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
REVENUES | |||
Rental income | $ 29,730 | $ 28,342 | |
Other operating interest | 348 | 991 | |
30,078 | 29,333 | ||
EXPENSES | |||
Property operating | 6,095 | 5,791 | |
General and administrative | 5,100 | 4,554 | |
Depreciation and amortization | 10,943 | 10,262 | |
22,138 | 20,607 | ||
OTHER (EXPENSE) INCOME | |||
Interest expense | (6,352) | (5,062) | |
Interest and other income, net | 3 | 1 | |
(6,349) | (5,061) | ||
NET INCOME | $ 1,591 | $ 3,665 | |
NET INCOME PER COMMON SHARE | |||
Net income per common share - Basic | $ 0.03 | $ 0.11 | |
Net income per common share - Diluted | $ 0.03 | $ 0.11 | |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC | 26,733 | 26,297 | |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED | 26,733 | 26,297 | |
The Consolidated Statements of Operations do not include all of the information and footnotes required by accounting principles generally accepted in |
COMMUNITY HEALTHCARE TRUST INCORPORATED RECONCILIATION OF FFO and AFFO (1) (Unaudited; Dollars and shares in thousands, except per share amounts) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
Net income | $ 1,591 | $ 3,665 | |
Real estate depreciation and amortization | 11,077 | 10,378 | |
FFO (1) | $ 12,668 | $ 14,043 | |
Straight-line rent | (639) | (755) | |
Stock-based compensation | 2,710 | 2,424 | |
AFFO (1) | $ 14,739 | $ 15,712 | |
FFO per Common Share-Diluted (1) | $ 0.47 | $ 0.53 | |
AFFO per Common Share-Diluted (1) | $ 0.55 | $ 0.59 | |
Weighted Average Common Shares Outstanding-Diluted (2) | 27,007 | 26,707 | |
(1) | Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. However, since real estate values have historically risen or fallen with market conditions, many industry investors deem presentations of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. For that reason, the Company considers funds from operations ("FFO") and adjusted funds from operations ("AFFO") to be appropriate measures of operating performance of an equity real estate investment trust ("REIT"). In particular, the Company believes that AFFO is useful because it allows investors, analysts and Company management to compare the Company's operating performance to the operating performance of other real estate companies and between periods on a consistent basis without having to account for differences caused by unanticipated items and other events.
The Company uses the National Association of Real Estate Investment Trusts, Inc. ("NAREIT") definition of FFO. FFO is an operating performance measure adopted by NAREIT. NAREIT defines FFO as the most commonly accepted and reported measure of a REIT's operating performance equal to net income (calculated in accordance with GAAP), excluding gains or losses from the sale of certain real estate assets, gains and losses from change in control, impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, plus depreciation and amortization related to real estate properties, and after adjustments for unconsolidated partnerships and joint ventures. NAREIT also provides REITs with an option to exclude gains, losses and impairments of assets that are incidental to the main business of the REIT from the calculation of FFO.
In addition to FFO, the Company presents AFFO and AFFO per share. The Company defines AFFO as FFO, excluding certain expenses related to closing costs of properties acquired accounted for as business combinations and mortgages funded, excluding straight-line rent and the amortization of stock-based compensation, and including or excluding other non-cash items from time to time. AFFO presented herein may not be comparable to similar measures presented by other real estate companies due to the fact that not all real estate companies use the same definition.
FFO and AFFO should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of the Company's financial performance or as alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of the Company's liquidity, nor are they necessarily indicative of sufficient cash flow to fund all of the Company's needs. The Company believes that in order to facilitate a clear understanding of the consolidated historical operating results of the Company, FFO and AFFO should be examined in conjunction with net income as presented elsewhere herein. |
(2) | Diluted weighted average common shares outstanding for FFO and AFFO are calculated based on the treasury method, rather than the 2-class method used to calculate earnings per share. Restricted stock awards and time-based RSUs are included in the calculation of weighted average common shares outstanding to the extent that they are dilutive. Performance-based RSUs are included in the calculation of weighted average common shares outstanding to the extent that they are in-the-money as of the end of the reporting period and are dilutive..
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CONTACT: Bill Monroe, 615-771-3052
SOURCE: Community Healthcare Trust Incorporated
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SOURCE Community Healthcare Trust Incorporated
FAQ
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