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Community Healthcare Trust: Q2 Earnings Snapshot
By AP News - Jul 31, 2024, 03:49 AM ET
Last Updated - Jul 31, 2024, 03:49 AM EDT
FRANKLIN, Tenn. (AP) — FRANKLIN, Tenn. (AP) — Community Healthcare Trust Inc. (CHCT) on Tuesday reported a key measure of profitability in its second quarter. The results fell short of Wall Street expectations.
The Franklin, Tennessee-based real estate investment trust said it had funds from operations of $14.3 million, or 53 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 59 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 $10.4 million, or 42 cents per share.
The real estate investment trust posted revenue of $27.5 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $30 million.
The company's shares have climbed slightly more than 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.51, a fall of 22% 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 Zacks stock report on CHCT at https://www.zacks.com/ap/CHCT
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