Community Healthcare Trust: 1Q Earnings Snapshot
FRANKLIN, Tenn. (AP) _ Community Healthcare Trust Inc. (CHCT) on Tuesday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Franklin, Tennessee, said it had funds from operations of $10.4 million, or 49 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 47 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $4.1 million, or 18 cents per share.
The real estate investment trust posted revenue of $17.9 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $17.5 million.
The company’s shares have fallen 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $37.26, a climb of nearly 1% in the last 12 months.