Community Healthcare Trust(CHCT)

Search documents
Community Healthcare Trust: A Buying Opportunity After Recent Underperformance
Seeking Alpha· 2024-06-05 18:30
Core Viewpoint - Community Healthcare Trust (NYSE:CHCT) has underperformed the Vanguard Real Estate Index Fund ETF (VNQ) in 2024, with a negative return of 12.5%, presenting a potential buying opportunity as it trades at a market implied cap rate of 9% while growing its occupancy and property portfolio [1] Company Overview - Community Healthcare Trust is a healthcare REIT with significant exposure to medical offices (39.9% of annualized rent), inpatient rehabilitation facilities (17.7%), and acute inpatient behavioral facilities (13.2%) [2] - The company operates 197 properties across 35 states, with the largest exposure in Texas (15.5% of annualized rent), followed by Illinois (11.2%) and Ohio (10.4%) [3] Operational Overview - As of Q1 2024, the occupancy rate was 92.3%, an increase of 0.7% year-over-year, which is notable given the 40% exposure to medical offices [4] - The company has been acquiring nearly fully leased properties, including four buildings with a 98.6% lease rate in Q1 2024 [4] - A new long-term lease for a property will require redevelopment, expected to be completed by 2026, alongside other properties undergoing significant renovations [5] Financial Overview - FFO for Q1 2024 was $0.53 per share, down 7% quarter-over-quarter due to higher interest rates and acquisition timing [6] - Community Healthcare Trust generated $23.5 million in net operating income (NOI) in Q1 2024, with a pro forma total revenue of $30.1 million if all acquisitions had occurred at the start of the quarter [9][10] - The company has a net debt of $439 million, accounting for 41% of enterprise value, with 20% of the debt being floating rate and 80% fixed rate [8] Executive Compensation and Management - A new executive compensation plan will take effect on July 1, 2024, aimed at reducing administrative expenses, which were elevated in Q1 2024 at $4.5 million [11] - The company is addressing shareholder concerns regarding executive compensation while managing overall administrative expenses [11] Conclusion - Community Healthcare Trust is trading at a market-implied cap rate of about 9% and is expanding its property portfolio through acquisitions with indicative returns in the 9-10% range [14] - The company is recovering from the bankruptcy of GenesisCare, with plans to lease and sell remaining assets [14]
Community Healthcare Trust Releases Inaugural Corporate Sustainability Report
prnewswire.com· 2024-05-21 21:21
FRANKLIN, Tenn., May 21, 2024 /PRNewswire/ -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced the release of its inaugural Corporate Sustainability Report for the year 2023. This comprehensive report highlights the Company's commitment to environmental stewardship, social responsibility, and good governance practices (ESG). The report is aligned with the Global Reporting Initiative (GRI) and can be found on the Corporate Responsibility page of the Company's Investor Rela ...
11 Upcoming Dividend Increases Including 2 Kings
Seeking Alpha· 2024-05-02 17:54
patpitchaya/iStock via Getty Images We have eleven new dividend increases to kick off in May. It's also great to get one or two dividend kings to bolster the list. Parker-Hannifin (PH) extends its 68-year streak with a 10.1% increase. Not to be outdone, W.W. Grainger (GWW) extends its 53-year streak with a 10.2% increase. They are wonderful examples of great businesses that have rewarded shareholders for decades. The companies feature an average increase of 6.3% and a median of 4.8%. I adhere to a dividend- ...
Community Healthcare Trust(CHCT) - 2024 Q1 - Earnings Call Transcript
2024-05-01 19:35
Community Healthcare Trust Incorporated (NYSE:CHCT) Q1 2024 Earnings Conference Call May 1, 2024 10:00 AM ET Company Participants Dave Dupuy - CEO William Monroe - CFO Conference Call Participants Alexander Goldfarb - Piper Sandler Rob Stevenson - Janney Jim Kammert - Evercore Alex Fagan - Baird Operator Welcome to the Community Healthcare Trust’s 2024 First Quarter Earnings Release Conference Call. On the call today, the company will discuss its 2024 first quarter financial results. It will also discuss pr ...
Compared to Estimates, Community Healthcare Trust (CHCT) Q1 Earnings: A Look at Key Metrics
Zacks Investment Research· 2024-05-01 00:06
For the quarter ended March 2024, Community Healthcare Trust (CHCT) reported revenue of $29.33 million, up 7.9% over the same period last year. EPS came in at $0.59, compared to -$0.32 in the year-ago quarter.The reported revenue represents a surprise of -1.44% over the Zacks Consensus Estimate of $29.76 million. With the consensus EPS estimate being $0.60, the EPS surprise was -1.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...
Community Healthcare Trust (CHCT) Lags Q1 FFO and Revenue Estimates
Zacks Investment Research· 2024-04-30 22:46
Community Healthcare Trust (CHCT) came out with quarterly funds from operations (FFO) of $0.59 per share, missing the Zacks Consensus Estimate of $0.60 per share. This compares to FFO of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -1.67%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.62 per share when it actually produced FFO of $0.61, delivering a surprise of -1.61%.Over the l ...
Community Healthcare Trust(CHCT) - 2024 Q1 - Quarterly Results
2024-04-30 20:31
COMMUNITY Exhibit 99.2 CHCT LISTED NYSE SUPPLEMENTAL INFORMATION Q1 2024 Community Healthcare Trust 1Q 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 inpatient behavioral facilities, inpatient rehabilitation facilities, physician clinics, specialty centers, behavioral specialty facilities, and surgical centers and hospitals across the United States, primaril ...
Community Healthcare Trust(CHCT) - 2024 Q1 - Quarterly Report
2024-04-30 20:31
• An increase in property operating expenses related to snow removal of approximately $0.2 million and insurance premiums of approximately $0.1 million. Management considers certain non-GAAP financial measures and key performance indicators to be useful supplemental measures of the Company's operating performance. A non-GAAP financial measure is generally defined as one that purports to measure financial performance, financial position or cash flows, but excludes or includes amounts that would not be so adj ...
Community Healthcare Trust Announces Results for the Three Months Ended March 31, 2024
Prnewswire· 2024-04-30 20:30
FRANKLIN, Tenn., April 30, 2024 /PRNewswire/ -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended March 31, 2024. The Company reported net income for the three months ended March 31, 2024 of approximately $3.7 million, or $0.11 per diluted common share. Funds from operations ("FFO") and adjusted funds from operations ("AFFO") for the three months ended March 31, 2024 totaled $0.53 and $0.59, respectively, per diluted common share. Items ...
Community Healthcare Trust Incorporated Announces Increased First Quarter Dividend
Prnewswire· 2024-04-25 21:43
FRANKLIN, Tenn., April 25, 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 March 31, 2024. This dividend, in the amount of $0.46 per share, is payable on May 24, 2024 to shareholders of record on May 10, 2024. This dividend rate equates to an annualized dividend of $1.84 per share. Community Healthcare Trust Incorporated has increased its dividend every quarter since its I ...