Community Healthcare Trust: 2Q Earnings Snapshot
FRANKLIN, Tenn. (AP) _ Community Healthcare Trust Inc. (CHCT) on Tuesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The Franklin, Tennessee-based real estate investment trust said it had funds from operations of $7.1 million, or 40 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 40 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 $2.4 million, or 12 cents per share.
The real estate investment trust posted revenue of $12.4 million in the period.
The company’s shares have risen slightly more than 9 percent since the beginning of the year. The stock has increased 25 percent in the last 12 months.