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Sep 30, 2021
CHCT Q3 2021 Earnings Report
Reported net income of approximately $5.4 million, or $0.20 per diluted common share for the third quarter of 2021.
Key Takeaways
Community Healthcare Trust Incorporated announced results for the three months ended September 30, 2021, reporting a net income of approximately $5.4 million, or $0.20 per diluted common share. Funds from operations and adjusted funds from operations totaled $0.55 and $0.59, respectively, per diluted common share.
Issued 139,216 shares of common stock through its at-the-market offering program at an average gross sales price of $48.63 per share, receiving net proceeds of approximately $6.6 million.
Acquired two real estate properties for an aggregate purchase price of approximately $9.3 million, which were 100% leased in the aggregate with lease expirations through 2026.
Subsequent to September 30, 2021, acquired one property for a purchase price of approximately $3.5 million, which was approximately 83.4% leased with lease expirations through 2030.
The Company declared a quarterly common stock dividend in the amount of $0.4350 per share, payable on November 26, 2021.
Revenue by Segment
Forward Guidance
The Company has three properties under definitive purchase agreements for an expected aggregate purchase price of approximately $12.2 million and also has four properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $94.0 million.
Positive Outlook
- Expected returns on investments are approximately 10.25%.
- The Company expects to close on properties during the fourth quarter of 2021.
- Acquisitions will be funded with cash on hand.
- Acquisitions will be funded with proceeds from the Company's ATM Program.
- Acquisitions will be funded with proceeds from the Company's Revolving Credit Facility.
Challenges Ahead
- The Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
- Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
- Forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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