Community Healthcare Trust(US:CHCT)2025-04-29 20:32Financial Performance - Rental income increased by approximately $1.4 million, or 4.9%, for the three months ended March 31, 2025, compared to the same period in 2024[101]. - Funds from Operations (FFO) for the three months ended March 31, 2025, was $12.668 million, compared to $14.043 million for the same period in 2024[113]. - Adjusted Funds from Operations (AFFO) for the three months ended March 31, 2025, was $14.739 million, compared to $15.712 million for the same period in 2024[113]. - Net income for the three months ended March 31, 2025, was $1,591,000, a decrease of 56.5% compared to $3,665,000 in 2024[116]. - EBITDAre for the same period was $18,886,000, slightly down by 0.5% from $18,989,000 in 2024[119]. - Adjusted EBITDAre increased to $21,596,000, up 0.9% from $21,413,000 in 2024[119]. Expenses - Interest expense increased by approximately $1.3 million, or 25.5%, for the three months ended March 31, 2025, due mainly to increases in the weighted average balance and interest rates on the Credit Facility[105]. - General and administrative expenses increased by approximately $0.5 million, or 12.0%, for the three months ended March 31, 2025, primarily due to compensation-related expenses[104]. - Property operating expenses increased by approximately $0.3 million, or 5.2%, for the three months ended March 31, 2025, compared to the same period in 2024[103]. Real Estate Portfolio - As of March 31, 2025, the real estate portfolio was approximately 90.9% leased, with 166,000 square feet of leases expiring or terminated and 168,000 square feet leased or renewed during the first three months of 2025[96]. - The Company has seven properties under definitive purchase agreements with an aggregate expected purchase price of approximately $169.5 million, anticipated to close throughout 2025, 2026, and 2027[95]. - The company had an aggregate gross investment of approximately $31.5 million in 9 real estate properties with purchase options exercisable at March 31, 2025, that had not been exercised[98]. - The company has seven properties under definitive purchase agreements with an expected total purchase price of approximately $169.5 million[128]. Cash Flow - Cash flows provided by operating activities increased to approximately $14.4 million for the three months ended March 31, 2025, compared to $12.6 million in 2024[135]. - Cash flows used in investing activities decreased significantly to approximately $12.6 million in 2025 from $38.5 million in 2024[137]. Debt and Capitalization - The debt to total capitalization ratio was approximately 41.0% as of March 31, 2025, exceeding the company's policy limit of 40%[121]. - As of March 31, 2025, the company had $222.0 million outstanding on its Revolving Credit Facility, with a remaining borrowing capacity of approximately $178.0 million[124]. - The company expects to fund acquisitions and capital improvements through cash from operations, equity or debt issuances, and asset sales[128]. Dividends - The company declared a quarterly common stock dividend of $0.47 per share, equating to an annualized dividend of $1.88 per share[142]. Non-GAAP Measures - Non-GAAP financial measures such as FFO and AFFO are considered useful by management to evaluate the Company's operating performance, excluding certain non-cash items[106].