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 surpassed Wall Street expectations.
The Franklin, Tennessee-based real estate investment trust said it had funds from operations of $7.9 million, or 42 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 41 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 $2.1 million, or 9 cents per share.
The real estate investment trust posted revenue of $14.3 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $14.5 million.
The company’s shares have increased 44% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.60, an increase of 35% in the last 12 months.