Community Healthcare Trust(CHCT) - 2024 Q4 - Annual Results

Financial Performance - Total revenues for Q4 2024 were $29,298,000, a slight decrease of 1.15% compared to Q3 2024[10] - Net income for Q4 2024 was $1,832,000, showing an increase from $1,749,000 in Q3 2024[10] - Rental income for Q4 2024 was $28,983,000, a slight decrease of 1.2% from $29,335,000 in Q3 2024[16] - Net income for Q4 2024 was $1,832,000, compared to a net loss of $10,427,000 in Q2 2024[17] - Funds from Operations (FFO) for Q4 2024 was $12,745,000, showing a decrease from $14,914,000 in Q4 2023[17] - Adjusted Funds from Operations (AFFO) for Q4 2024 was $14,630,000, down from $16,071,000 in Q4 2023[19] - Net Operating Income (NOI) for Q4 2024 was $23,813,000, an increase from $23,526,000 in Q4 2023[23] - General and administrative expenses for Q4 2024 were $4,809,000, compared to $3,728,000 in Q4 2023, reflecting a 29% increase[16] - Interest expense for Q4 2024 was $6,405,000, up from $5,019,000 in Q4 2023[23] Debt and Leverage - Net debt as of Q4 2024 was $485,955,000, representing a 2.6% increase from $473,716,000 in Q3 2024[13] - The company reported a total debt of $487 million as of December 31, 2024, with a net debt of $485.955 million after accounting for deferred financing costs[29] - The leverage ratio stood at 41.3%, well below the required maximum of 60.0%[31] - The fixed charge coverage ratio was reported at 3.3, significantly above the required minimum of 1.50x[31] Assets and Market Capitalization - Total assets increased to $992,563,000 in Q4 2024 from $981,779,000 in Q3 2024[15] - The enterprise value as of Q4 2024 was $1,024,107,000, up from $983,479,000 in Q3 2024[13] - The total market capitalization was $542,536,000, reflecting an increase from $512,599,000 in Q3 2024[13] Dividends - The quarterly dividend paid per share was $0.4650, resulting in a dividend yield of 9.68%[5] - The company declared a dividend of $0.4650 per common share in Q4 2024, up from $0.4550 in Q4 2023[16] Property and Portfolio - The company reported a total of 200 properties, with a leasing rate of 90.9%[5] - The portfolio was approximately 90.9% leased as of December 31, 2024, with lease expirations extending from 2025 to 2044[38] - The company acquired properties totaling $59.4 million in 2024, with an average lease percentage of 99.3% across the new acquisitions[32] - The company has a diversified tenant base, with the largest tenant, LifePoint Health, contributing 8.7% to annualized rent[35] - The company is focusing on acquiring properties in high-growth areas, as evidenced by its investments in the Tampa-St. Petersburg and San Antonio markets[42] Annualized Rent Contributions - The company reported a total annualized rent of $2,226.2 million from the Chicago Behavioral Hospital, representing 1.89% of the total portfolio[41] - The Joliet Medical Building generated an annualized rent of $1,474.9 million, accounting for 1.00% of the total portfolio[41] - The Texas Rehabilitation Hospital of Fort Worth has an annualized rent of $2,028.0 million, representing 0.89% of the total portfolio[41] - The Bayside Medical Center in Houston has an annualized rent of $1,108.6 million, accounting for 1.13% of the total portfolio[42] - The company reported an annualized rent of $2,731.2 thousand for Worcester Behavioral, representing 2.54% of total annualized rent[44] Operating Performance Metrics - The company emphasizes the importance of Adjusted Funds from Operations (AFFO) for evaluating operating performance, which excludes certain expenses[54] - The company uses Net Operating Income (NOI) as a measure of operating performance, which excludes general and administrative expenses[62] - The company defines Funds from Operations (FFO) as net income excluding certain gains or losses, providing a clearer picture of operating performance[56] - The company highlights the significance of EBITDAre and Adjusted EBITDAre in assessing core operating results and debt servicing ability[53] Future Outlook - The company anticipates continued market expansion and potential acquisitions to enhance portfolio performance[68] - The company utilizes forward-looking statements to project future performance based on current expectations and market conditions[69]