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Community Healthcare Trust (CHCT) Surpasses Q3 FFO and Revenue Estimates
ZACKS· 2024-10-29 22:45
Core Viewpoint - Community Healthcare Trust (CHCT) reported quarterly funds from operations (FFO) of $0.55 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, but down from $0.63 per share a year ago, indicating a 12.7% year-over-year decline [1][2] Financial Performance - The company posted revenues of $29.64 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.01% and showing an increase from $28.74 million in the same quarter last year [2] - Over the last four quarters, CHCT has only surpassed consensus FFO estimates once [2] Stock Performance - CHCT shares have declined approximately 33.5% since the beginning of the year, contrasting with the S&P 500's gain of 22.1% [3] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [3] Future Outlook - The current consensus FFO estimate for the upcoming quarter is $0.53 on revenues of $29.62 million, and for the current fiscal year, it is $2.17 on revenues of $115.54 million [7] - The estimate revisions trend for CHCT is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The REIT and Equity Trust - Other industry is currently ranked in the top 24% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]
Community Healthcare Trust(CHCT) - 2024 Q3 - Quarterly Results
2024-10-29 20:33
Exhibit 99.2 TRUST CHCT LISTED NYSE | --- | --- | |--------------------------------------------------------------------------------------|-------| | SUPPLEMENTAL INFORMATION Q3 2024 | | | https://files.reportify.cc/media/production/CHCTc194287013aa81392fc7c3200153410e.jpg | | Community Healthcare Trust 3Q 2024 | Supplemental Information ABOUT US CHCT is a self-managed healthcare real estate investment trust ("REIT") that owns a diverse portfolio of properties including medical office buildings, acute inpati ...
Community Healthcare Trust(CHCT) - 2024 Q3 - Quarterly Report
2024-10-29 20:31
Real Estate Acquisitions and Portfolio - The Company acquired six real estate properties totaling approximately 223,000 square feet for an aggregate purchase price of approximately $63.9 million during the first nine months of 2024, with properties 99.3% leased upon acquisition [120]. - The Company has four properties under definitive purchase agreements for an expected purchase price of approximately $8.8 million, with expected returns ranging from 9.29% to 9.50% [122]. - The Company anticipates closing on seven properties with an expected purchase price of approximately $169.5 million throughout 2025, 2026, and 2027 [123]. - As of September 30, 2024, the Company's real estate portfolio was approximately 91.3% leased, with 431,000 square feet of expiring or terminated leases and 427,000 square feet leased or renewed [124]. - The Company had an aggregate gross investment of approximately $32.9 million in 10 real estate properties with purchase options exercisable at September 30, 2024 that had not been exercised [126]. Financial Performance - Rental income increased approximately $1.6 million, or 5.9%, for the three months ended September 30, 2024 compared to the same period in 2023, driven by properties acquired during 2023 and 2024 [134]. - Rental income increased by approximately $5.0 million, or 6.2%, for the nine months ended September 30, 2024, compared to the same period in 2023, primarily due to properties acquired during 2023 and 2024 [145]. - The Company recognized a net income of $1.749 million for the three months ended September 30, 2024, a decrease of 49.9% compared to $3.492 million for the same period in 2023 [133]. - Net income for the three months ended September 30, 2024, was $1,749,000, a decrease of 50% compared to $3,492,000 in the same period of 2023 [161]. - Funds from Operations (FFO) for the three months ended September 30, 2024, was $12,821,000, down 14.3% from $14,969,000 in 2023 [161]. - Adjusted Funds from Operations (AFFO) for the three months ended September 30, 2024, was $14,639,000, a decrease of 10.7% compared to $16,423,000 in 2023 [161]. - Net Operating Income (NOI) for the three months ended September 30, 2024, was $23,653,000, slightly up from $23,279,000 in 2023 [165]. - EBITDAre for the three months ended September 30, 2024, was $18,924,000, a decrease from $19,664,000 in 2023 [170]. - Adjusted EBITDAre for the three months ended September 30, 2024, was $21,421,000, down from $21,562,000 in 2023 [170]. Expenses and Liabilities - General and administrative expenses increased approximately $1.3 million, or 36.4%, for the three months ended September 30, 2024 compared to the same period in 2023, primarily due to compensation-related expenses [137]. - Interest expense increased approximately $1.6 million, or 34.7%, for the three months ended September 30, 2024 compared to the same period in 2023, attributed to higher average balances and interest rates on the revolving credit facility [139]. - Property operating expenses increased by approximately $2.2 million, or 14.8%, for the nine months ended September 30, 2024, attributed to expenses on newly acquired properties and increased property insurance [147]. - Interest expense increased by approximately $4.5 million, or 35.4%, for the nine months ended September 30, 2024, due to an increase in the revolving credit facility balance and rising interest rates [150]. - A credit loss reserve of $11.0 million was recorded during the second quarter of 2024 related to notes receivable with a tenant [151]. - The debt to total capitalization ratio was approximately 40.0% as of September 30, 2024 [172]. Cash Flows and Dividends - Cash flows provided by operating activities for the nine months ended September 30, 2024, were approximately $43.2 million, compared to $47.1 million for the same period in 2023 [189]. - Cash flows used in investing activities for the nine months ended September 30, 2024, were approximately $83.2 million, down from $100.1 million in 2023 [190]. - Cash flows provided by financing activities for the nine months ended September 30, 2024, were approximately $38.2 million, compared to $45.9 million in 2023 [192]. - The Company declared a quarterly common stock dividend of $0.465 per share, equating to an annualized dividend of $1.86 per share [196]. Future Commitments and Expectations - The Company expects to meet its liquidity needs through cash on hand and cash flows from operations [177]. - The Company has two notes with a tenant with unfunded commitments totaling $4.2 million as of September 30, 2024 [187]. - The Company expects to fund tenant improvements of up to approximately $26.0 million, with $13.1 million allocated for redevelopment projects [183][184]. - The Company has remaining commitments for capital expenditures totaling approximately $3.1 million, with $0.8 million for redevelopment projects into different healthcare uses [185]. - The Company amended its Credit Facility on October 16, 2024, increasing the capacity from $150.0 million to $400.0 million [178].
Community Healthcare Trust Announces Results for the Three Months Ended September 30, 2024
Prnewswire· 2024-10-29 20:30
FRANKLIN, Tenn., Oct. 29, 2024 /PRNewswire/ -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended September 30, 2024. The Company reported net income for the three months ended September 30, 2024 of approximately $1.7 million, or $0.04 per diluted common share. Funds from operations ("FFO") and adjusted funds from operations ("AFFO") for the three months ended September 30, 2024 totaled $0.48 and $0.55, respectively, per diluted common sha ...
Community Healthcare Trust Vs. Medical Properties Trust: Which Is The Better REIT For 2025
Seeking Alpha· 2024-10-27 04:55
I ventured into investing in high school in 2011, mainly in REITs, preferred stocks, and high-yield bonds, starting a fascination with markets and the economy that has not faded despite the years. More recently I have been combining long stock positions with covered calls and cash secured puts. I approach investing purely from a fundamental long-term point of view. On Seeking Alpha I mostly cover REITs and financials, with occasional articles on ETFs and other stocks driven by a macro trade idea. Analyst's ...
Community Healthcare Trust Incorporated Announces Increased Third Quarter Dividend
Prnewswire· 2024-10-24 22:00
FRANKLIN, Tenn., Oct. 24, 2024 /PRNewswire/ -- Community Healthcare Trust Incorporated (NYSE: CHCT) today announced that its Board of Directors has increased its common stock cash dividend for the quarter ended September 30, 2024. This dividend, in the amount of $0.4650 per share, is payable on November 22, 2024 to shareholders of record on November 8, 2024. This dividend rate equates to an annualized dividend of $1.86 per share. Community Healthcare Trust Incorporated has increased its dividend every quart ...
Community Healthcare Trust Incorporated Announces Upsizing and Maturity Extension of $400 Million Senior Unsecured Line of Credit
Prnewswire· 2024-10-16 20:30
FRANKLIN, Tenn., Oct. 16, 2024 /PRNewswire/ -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced that it has closed on an amended 5-year $400 million senior unsecured revolving line of credit (the "Revolving Facility") with the Second Amendment to the Company's Third Amended and Restated Credit Agreement (the "Refinancing Transaction"). This amended $400 million Revolving Facility will significantly increase the Company's liquidity compared to the previous $150 million sen ...
Is This 10%-Yielding Dividend Stock's Magnificent Growth Streak About to Come to an Abrupt End?
The Motley Fool· 2024-10-04 10:15
Community Healthcare Realty Trust dividend isn't as healthy as it had been. Community Healthcare Trust (CHCT -1.83%) currently offers a dividend yield above 10%. That puts it several times higher than the S&P 500's dividend yield of less than 1.5%. That's a monster yield for a company with such a magnificent record of increasing its payout. It has raised its payment every quarter since its initial public offering in 2015. However, that streak could end abruptly. The healthcare-focused real estate investment ...
Community Healthcare Trust: Underservedly Trading Below COVID-19 Share Price Lows
Seeking Alpha· 2024-08-12 20:21
Market Market Production D T I onurdongel Introduction Community Healthcare Trust (NYSE:CHCT) has substantially underperformed the Vanguard Real Estate Index Fund ETF (VNQ) so far in 2024, with the company's shares posting a ~28% loss against the 5% total return for the benchmark ETF: CHCT vs VNQ in 2024 (Seeking Alpha) Going further back, we note the company is now trading below its March 2020 levels, at the height of the COVID-19 crisis. I also covered the shares back in June 2024 arguing they were underv ...
Community Healthcare Trust(CHCT) - 2024 Q2 - Earnings Call Transcript
2024-07-31 19:53
Community Healthcare Trust Incorporated (NYSE:CHCT) Q2 2024 Earnings Conference Call July 31, 2024 10:00 AM ET Company Participants Dave Dupuy – Chief Executive Officer Bill Monroe – Chief Financial Officer Conference Call Participants Rob Stevenson – Janney Alexander Goldfarb – Piper Sandler Michael Lewis – Truist Wes Golladay – Baird Jim Kammert – Evercore Operator Welcome to the Community Healthcare Trust’s 2024 Second Quarter Earnings Release Conference Call. On the call today, the company will discuss ...