Community Healthcare Trust (CHCT) Reports In-Line Q3 EPS, Revenues Beat

Community Healthcare Trust (NYSE: CHCT) reported Q3 EPS of $0.22, in-line with the analyst estimate of $0.22. Revenue for the quarter came in at $19.34 million versus the consensus estimate of $18.66 million.

Highlights include:

• During the third quarter of 2020, the Company issued, through its at-the-market offering program ("ATM Program"), 536,839 shares of common stock at an average gross sales price of $47.40 per share and received net proceeds of approximately $24.9 million at an approximate 3.64% current equity yield.
• During the third quarter of 2020, the Company acquired a land parcel adjacent to one of our existing properties for a purchase price and cash consideration of approximately $1.1 million.
• During the fourth quarter of 2020, through November 3, 2020, the Company acquired 10 properties for an aggregate purchase price and cash consideration of approximately $67.9 million. The facilities were 100% leased in the aggregate with lease expirations through 2035.
• The Company has three properties under definitive purchase agreements for an aggregate expected purchase price of approximately $12.8 million and expected aggregate returns ranging from approximately 9.2% to 10.8%. The Company expects to close on these properties through the first quarter of 2021; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
• The Company has two properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $38.0 million. The Company's expected aggregate returns on these investments of approximately 11.0%. The Company expects to close on these properties during 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 November 2, 2020, the Company's Board of Directors declared a quarterly common stock dividend in the amount of $0.425 per share. The dividend is payable on November 27, 2020 to stockholders of record on November 16, 2020.

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

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