Community Healthcare Trust Reports Financial Results for Q4 2024
Community Healthcare Trust Reports Financial Results for Q4 2024
Community Healthcare Trust Incorporated (NYSE: CHCT) has公布された its financial performance for the three-month period ending December 31, 2024. This release outlines key figures and developments impacting the company's operations and overall financial health.
Financial Highlights
For the quarter ending December 31, 2024, Community Healthcare Trust reported a net income of approximately $1.8 million, translating to $0.04 per diluted common share. Additionally, the company's Funds from Operations (FFO) reached $0.48, while the Adjusted Funds from Operations (AFFO) stood at $0.55 per diluted common share.
Asset Acquisitions and Dispositions
During the quarter, the company expanded its portfolio with the acquisition of three properties for a total cost of about $8.2 million. These newly acquired properties, totaling approximately 38,000 square feet, were already fully leased with lease expirations extending through 2029. The funding for these acquisitions was derived from the company's revolving credit facility.
On the flip side, the company sold one property in Texas and an adjacent land parcel in Georgia, yielding net proceeds of roughly $1.4 million and recognizing an immaterial gain from these transactions.
Future Investments
Looking ahead, Community Healthcare Trust has signed a definitive purchase agreement for a residential treatment campus composed of five buildings, with an anticipated acquisition cost of around $9.5 million and an expected return rate of 9.5%. The company plans to finalize this transaction during the first quarter of 2025, although the exact timing remains uncertain.
In addition, the company holds seven properties under definitive purchase agreements, which will be acquired post-completion and occupancy, with a total expected investment nearing $169.5 million. Expected returns on these investments are estimated between 9.1% and 9.75%. Closing on one of these properties is anticipated within the first quarter of 2025, with subsequent closings expected over the following years.
Credit Facility and Dividend Declaration
On October 16, 2024, the company executed a second amendment to its credit agreement, enhancing its revolving credit facility to $400 million and extending the maturity date to October 16, 2029. This amendment also resulted in reduced pricing by 10 to 30 basis points, contingent upon the company's leverage ratio.
For stockholders, the Board of Directors declared a quarterly dividend of $0.4675 per share on February 13, 2025, which will be payable on March 5, 2025, to shareholders of record on February 24, 2025.
Community Healthcare Trust Overview
Community Healthcare Trust Incorporated is recognized as a real estate investment trust (REIT) focused on owning income-producing properties primarily associated with outpatient healthcare services across various sub-markets in the United States. As of December 31, 2024, the company had approximately $1.2 billion invested in around 200 real estate properties, encompassing about 4.4 million square feet in total.
Conclusion
In conclusion, Community Healthcare Trust Incorporated's strategic growth through acquisitions, solid income generation, and consistent dividend payments marks a robust performance for Q4 2024. Investors and stakeholders should stay tuned for further developments as the company navigates future opportunities in the healthcare real estate space.
Topics Financial Services & Investing）
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