Community Healthcare Trust (CHCT) Reports Q4 EPS of $0.08, Beats on Revenues
Community Healthcare Trust (NYSE: CHCT) reported Q4 EPS of $0.08, versus $0.00 reported last year. Revenue for the quarter came in at $10.96 million versus the consensus estimate of $8.01 million.
Highlights include:
- During the fourth quarter of 2017, the Company acquired six real estate properties for an aggregate purchase price of approximately $40.2 million. The Company\'s expected returns on these investments range from approximately 9.0% to 10.5%. Upon acquisition, the properties were 100.0% leased in the aggregate with lease expirations ranging from 2021 through 2032. In addition, we purchased $11.45 million face value of certain promissory notes, secured by accounts receivable of our bankrupt borrower, for $8.75 million from a syndicate of banks, a $2.7 million discount to face value.
- On February 1, 2018, the Company\'s Board of Directors declared a quarterly common stock dividend in the amount of $0.3975 per share. The dividend is payable on March 2, 2018 to stockholders of record on February 16, 2018.
- The Company has three properties under definitive purchase agreements for an aggregate purchase price of approximately $16.8 million with expected returns ranging from approximately 9.0% to 9.6%. The Company anticipates these properties will close during the first quarter of 2018. However, the Company is currently performing due diligence procedures customary for these types of transactions and cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
- The Company also has three properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $40.4 million. The Company expects to close on one of these properties sometime in the first half of 2018 and expects to close on the remaining two properties sometime in the second half of 2018. The Company\'s expected aggregate return on these investments ranges up to approximately 11%. However, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
For earnings history and earnings-related data on Community Healthcare Trust (CHCT) click here.
