Business
Community Healthcare Trust Announces Results for the Three Months Ended December 31, 2024
Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended December 31, 2024. The Company reported net income for the three months ended December 31, 2024 of approximately $1.8 million, or $0.04 per diluted common share. Funds from operations ("FFO") and adjusted funds from operations ("AFFO") for the three months ended December 31, 2024 totaled $0.48 and $0.55, respectively, per diluted common share.
About this update from Community Healthcare Trust Incorporated
[{"type":"text","content":"FRANKLIN, Tenn., Feb. 18, 2025 /PRNewswire/ -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended December 31, 2024. The Company reported net income for the three months ended December 31, 2024 of approximately $1.8 million, or $0.04 per diluted common share. Funds from operations ("FFO") and adjusted funds from operations ("AFFO") for the three months ended December 31, 2024 totaled $0.48 and $0.55, respectively, per diluted common share.","length":572,"tagName":"p"},{"type":"text","content":"Items Impacting Our Results include:","length":36,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"During the three months ended December 31, 2024, the Company acquired three properties for an aggregate purchase price of approximately $8.2 million. Upon acquisition, the properties totaling approximately 38,000 square feet, were 100.0% leased in the aggregate with lease expirations through 2029. These acquisitions were funded with proceeds from the Company's Revolving Credit Facility.","length":393,"tagName":"p"}]},{"val":[{"type":"text","content":"During the three months ended December 31, 2024, the Company disposed of one property in Texas and a land parcel adjacent to a property in Georgia. The Company received net proceeds of approximately $1.4 million and recognized an immaterial gain in the aggregate on the dispositions.","length":283,"tagName":"p"}]},{"val":[{"type":"text","content":"The Company has entered into a definitive purchase agreement for a residential treatment campus consisting of five buildings with an expected purchase price of approximately $9.5 million and an expected return of 9.5%. The Company expects to close on this investment during the first quarter of 2025; however, the Company cannot provide assurance as to the timing of when, or whether, the transaction will actually close.","length":421,"tagName":"p"}]},{"val":[{"type":"text","content":"The Company also has seven properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $169.5 million. The Company's expected returns on these investments are approximately 9.1% to 9.75%. The Company anticipates closing on one...