Community Healthcare Trust: Q2 Earnings Snapshot

August 2, 2022 GMT

FRANKLIN, Tenn. (AP) _ Community Healthcare Trust Inc. (CHCT) on Tuesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.

The real estate investment trust, based in Franklin, Tennessee, said it had funds from operations of $15 million, or 62 cents per share, in the period.

The average estimate of four 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 net income of $5.6 million, or 21 cents per share.

The real estate investment trust posted revenue of $24 million in the period, which met Street forecasts.

The company’s shares have declined 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $39.48, a decline of 20% 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