The following is a summary of the Community Healthcare Trust Incorporated (CHCT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Community Healthcare Trust reported Q1 2024 total revenue of $29.3 million, a 7.9% increase from last year.

• Property operating expenses increased by $193,000 due to seasonal utility costs and maintenance.

• General and administrative expenses rose by $826,000 from the previous quarter.

• A rise in interest expense was observed, increasing to $5.1 million.

• Funds from operations decreased to $14 million, while Adjusted funds from operations remained steady at $15.7 million.

• The dividend was increased to $0.46 per share, resulting in an annualized dividend of $1.84 per share.

Business Progress:

• The company witnessed a rise in occupancy, from 91.1% to 92.3% over the quarter.

• Four properties were acquired for approximately $34.2 million, adding around 165,000 sq.ft. of space.

• A new patient rehabilitation facility was obtained for $23.5 million.

• Future expansion plans include the acquisition of seven new properties with an expected total investment of $169.5 million.

• Changes in executive compensation are under consideration, with 50% of executive bonuses proposed to be paid in cash, influencing AFFO by approximately $0.01.

• By March 2026, the company plans for the expected maturity of their revolver, and is possibly anticipating a lower interest rate environment.

• The company will be attending the NAREIT conference in June.

More details: Community Healthcare Trust Inc IR

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