Community Healthcare Trust(CHCT) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenues for Q1 2025 were $30,078,000, an increase from $29,298,000 in Q4 2024, representing a growth of 2.7%[15] - Net income for Q1 2025 was $1,591,000, compared to $1,832,000 in Q4 2024, showing a decrease of 13.1%[15] - Funds from Operations (FFO) for Q1 2025 were $12,668,000, slightly down from $12,745,000 in Q4 2024[15] - Adjusted EBITDAre for Q1 2025 was $21,596,000, consistent with $21,617,000 in Q4 2024[15] - Adjusted Funds from Operations (AFFO) for Q1 2025 were $14,739,000, an increase from $14,630,000 in Q4 2024[24] - Net Operating Income (NOI) for Q1 2025 was $23,983,000, up from $23,813,000 in Q4 2024[33] - General and administrative expenses for Q1 2025 were $5,100,000, an increase from $4,809,000 in Q4 2024[33] - The company recorded an interest expense of $6,352,000 in Q1 2025, slightly down from $6,405,000 in Q4 2024[33] - The market capitalization was reported at $514,631,000 as of Q1 2025, down from $542,536,000 in Q4 2024[21] Dividends and Shareholder Returns - The company reported a quarterly dividend of $0.4675 per share, with a dividend yield of 10.30%[8] - The company declared a dividend of $0.4675 per common share in Q1 2025, compared to $0.4650 in Q4 2024[23] Debt and Capitalization - Net debt to total capitalization ratio stood at 41.0% as of Q1 2025, up from 40.3% in Q4 2024[21] - Total debt as of March 31, 2025, amounted to $496,016 thousand, with a leverage ratio of 41.9%, well below the required maximum of 60.0%[39][42] - The company reported a total capitalization that includes debt, stockholders' equity, and accumulated depreciation, highlighting its financial structure[83] Property and Portfolio Management - Total real estate properties increased to $1,148,772,000 in Q1 2025 from $1,145,931,000 in Q4 2024[21] - The company owned a total of 201 properties as of March 31, 2025, with a leasing rate of 90.9%[8] - The portfolio was approximately 90.9% leased as of March 31, 2025, with lease expirations ranging from 2025 through 2045[55] - The company’s portfolio includes a variety of healthcare facilities, such as Inpatient Rehabilitation Facilities (IRF) and Long-Term Acute Care Hospitals (LTACH), catering to diverse patient needs[75][76] Market and Revenue Insights - Approximately 51% of property revenues are generated from MSAs with populations over 1,000,000[57] - Medical Office Buildings (MOB) accounted for 36.6% of annualized rent, making it the largest segment in the portfolio[48] - The average annualized rent across the properties listed in the documents indicates a strong rental income potential in the healthcare real estate sector[60][61] - The company is focusing on expanding its portfolio in high-demand healthcare markets, as evidenced by the diverse range of properties listed[60][61] Operational Metrics - The fixed charge coverage ratio stood at 3.2, significantly above the required minimum of 1.50x[42] - Non-cash stock-based compensation as a percentage of revenue was 9.0% in Q1 2025, compared to 8.8% in Q4 2024[23] - The weighted average common shares outstanding increased to 27,007,000 in Q1 2025 from 26,786,000 in Q4 2024[24] - Weighted average common shares outstanding for Q1 2025 increased to 28,324 thousand from 27,680 thousand in Q1 2024, reflecting a growth of approximately 2.3% year-over-year[37] Future Outlook and Strategy - The company’s forward-looking statements reflect management's expectations regarding capital resources and portfolio performance, indicating a proactive approach to market conditions[85][86] - The company utilizes non-GAAP financial measures such as AFFO, which adjusts for acquisitions, providing insights into future operational impacts[66] - The company emphasizes the importance of EBITDAre and Adjusted EBITDAre as key performance indicators for evaluating core operating results[69][70]