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Community Healthcare Trust: Q1 Earnings Snapshot
By AP News - May 02, 2023, 05:24 PM ET
Last Updated - Jun 21, 2023, 11:44 PM EDT
FRANKLIN, Tenn. (AP) — FRANKLIN, Tenn. (AP) — Community Healthcare Trust Inc. (CHCT) on Tuesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Franklin, Tennessee, said it had funds from operations of $15.6 million, or 62 cents per share, in the period.
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The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 56 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 a loss of $6.9 million, or 32 cents per share.
The real estate investment trust posted revenue of $27.2 million in the period.
The company's shares have risen nearly 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.07, a drop of almost 1% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CHCT">Zacks stock report on CHCT at https://www.zacks.com/ap/CHCT
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