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Community Healthcare Trust Inc (CHCT) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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CHCT Quarterly Reports

Community Healthcare Trust Inc

CIK: 1631569 Ticker: CHCT


Exhibit 99.1



News Release

Community Healthcare Trust Announces Results for the Three Months Ended December 31, 2019

FRANKLIN, Tenn., February 25, 2020 / PRNewswire / -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended December 31, 2019. The Company reported net income for the fourth quarter of approximately $2.2 million, or $0.09 per diluted common share. Funds from operations and adjusted funds from operations ("AFFO") for the three months ended December 31, 2019 totaled $0.47 and $0.49, respectively, per diluted common share. 

Highlights include:

During the fourth quarter of 2019, the Company sold, through its at-the-market offering program ("ATM Program"), 1,352,985 shares of common stock at an average gross sales price of $45.73 per share and received net proceeds of approximately $60.6 million at an approximate 3.63% current equity yield. Of the shares sold during 2019, 120,100 shares of common stock settled in January 2020 for net proceeds of approximately $5.0 million.

During the fourth quarter of 2019, the Company acquired seven real estate properties totaling approximately 113,458 square feet for an aggregate purchase price of approximately $34.8 million and cash consideration of approximately $34.4 million. Upon acquisition, the properties were 100% leased in the aggregate with lease expirations through 2034.

Subsequent to December 31, 2019, the Company acquired three real estate properties totaling approximately 56,000 square feet for an aggregate purchase price of approximately $11.7 million and cash consideration of approximately $11.8 million. Upon acquisition, the properties were 96.1% leased in the aggregate with lease expirations through 2026.

The Company has two properties under definitive purchase agreements for an aggregate expected purchase price of approximately $6.3 million. The Company's expected aggregate returns on these investments range from approximately 9.4% to 9.9%. The Company is currently performing due diligence procedures customary for these types of transactions. The Company expects to close these properties in the first quarter of 2020; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.

The Company also has four properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $73.4 million. The Company's expected aggregate returns on these investments range from approximately 9.5% to 11.0%. The Company expects to close one of these properties with a purchase price of approximately $19.0 million during the first quarter of 2020 and the rest of these properties through the first half of 2021; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.

On February 6, 2020, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.4175 per share. The dividend is payable on February 28, 2020 to stockholders of record on February 18, 2020.

Highland Transition Update:
Highland Hospital is expected to file a pre-packaged bankruptcy in the first quarter of 2020, with an anticipated sale to the new operator, in order to facilitate the transfer of licenses.  The new operator continues to manage Highland Hospital pursuant to a management agreement. The Company will provide liquidity if required, secured by all assets of Highland Hospital, if needed, to ensure the sale transaction is finalized.

The Company's lease with the new operator will become effective upon the closing of the anticipated bankruptcy sale. The Company has received and anticipates continuing to receive monthly payments.

1

The following information was filed by Community Healthcare Trust Inc (CHCT) on Tuesday, February 25, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Community Healthcare Trust Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Inside Community Healthcare Trust Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive (Loss) Income
Condensed Consolidated Statements Of Income
Condensed Consolidated Statements Of Stockholders' Equity
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical)
Debt, Net
Debt, Net (Tables)
Debt, Net - Narrative (Details)
Debt, Net - Schedule Of Debt (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Cash Flow Hedging (Details)
Derivative Financial Instruments - Fair Value Balance Sheet (Details)
Derivative Financial Instruments - Narrative (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Tables)
Incentive Plan
Incentive Plan (Tables)
Incentive Plan - Restricted Stock Activity (Details)
Net Income Per Common Share
Net Income Per Common Share (Details)
Net Income Per Common Share (Tables)
Other Assets, Net
Other Assets, Net (Tables)
Other Assets, Net - Narrative (Details)
Other Assets, Net - Other Assets (Details)
Other Assets, Net - Vies (Details)
Real Estate Acquisitions
Real Estate Acquisitions (Tables)
Real Estate Acquisitions - Assets Acquired And Liabilities Assumed (Details)
Real Estate Acquisitions - Real Estate Acquisitions (Details)
Real Estate Acquisitions - Real Estate Acquisitions - Additional Information (Details)
Real Estate Investments
Real Estate Investments (Tables)
Real Estate Investments - Additional Information (Details)
Real Estate Investments - Schedule Of Real Estate Property Investments (Details)
Real Estate Leases
Real Estate Leases (Details)
Real Estate Leases (Tables)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Equity Offering (Details)
Stockholders' Equity - Reconciliation Of Common Stock (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Additional Information (Details)

Material Contracts, Statements, Certifications & more

Community Healthcare Trust Inc provided additional information to their SEC Filing as exhibits

Ticker: CHCT
CIK: 1631569
Form Type: 10-Q Quarterly Report
Accession Number: 0001631569-20-000013
Submitted to the SEC: Tue May 05 2020 5:08:34 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: Real Estate Investment Trusts

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