Community Healthcare Trust (CHCT) Misses Q4 EPS by 6c, Revenues Miss

Community Healthcare Trust (NYSE: CHCT) reported Q4 EPS of $0.09, $0.06 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $16.83 million versus the consensus estimate of $17.06 million.

Highlights include:

• During the fourth quarter of 2019, the Company sold, through its at-the-market offering program ("ATM Program"), 1,352,985 shares of common stock at an average gross sales price of $45.73 per share and received net proceeds of approximately $60.6 million at an approximate 3.63% current equity yield. Of the shares sold during 2019, 120,100 shares of common stock settled in January 2020 for net proceeds of approximately $5.0 million.
• During the fourth quarter of 2019, the Company acquired seven real estate properties totaling approximately 113,458 square feet for an aggregate purchase price of approximately $34.8 million and cash consideration of approximately $34.4 million. Upon acquisition, the properties were 100% leased in the aggregate with lease expirations through 2034.
• Subsequent to December 31, 2019, the Company acquired three real estate properties totaling approximately 56,000 square feet for an aggregate purchase price of approximately $11.7 million and cash consideration of approximately $11.8 million. Upon acquisition, the properties were 96.1% leased in the aggregate with lease expirations through 2026.
• The Company has two properties under definitive purchase agreements for an aggregate expected purchase price of approximately $6.3 million. The Company\'s expected aggregate returns on these investments range from approximately 9.4% to 9.9%. The Company is currently performing due diligence procedures customary for these types of transactions. The Company expects to close these properties in the first quarter of 2020; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
• The Company also has four properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $73.4 million. The Company's expected aggregate returns on these investments range from approximately 9.5% to 11.0%. The Company expects to close one of these properties with a purchase price of approximately $19.0 million during the first quarter of 2020 and the rest of these properties through the first half of 2021; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
• On February 6, 2020, the Company's Board of Directors declared a quarterly common stock dividend in the amount of $0.4175 per share. The dividend is payable on February 28, 2020 to stockholders of record on February 18, 2020.

For earnings history and earnings-related data on Community Healthcare Trust (CHCT) click here.

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