The following is a summary of the Community Healthcare Trust Incorporated (CHCT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• CHCT reported a total revenue of $29.6 million for Q3 2024, representing a 3.1% annual growth compared to the same period last year.

• Funds from operations (FFO) increased by $1.2 million from $11.6 million in Q2 2024 to $12.8 million in Q3 2024.

• Adjusted funds from operations (AFFO) also saw a quarter-over-quarter increase from $14.3 million in Q2 2024 to $14.6 million in Q3 2024, translating to a slight increase per-diluted common share from $0.53 to $0.55.

Business Progress:

• CHCT has increased its revolving credit facility from $150 million to $400 million and extended its maturity.

• Despite adverse events like hurricanes, CHCT properties remained undamaged and the company maintained active leasing, with one new physician clinic acquisition for approximately $6.2 million.

• The company has plans for acquisitions with an aggregate expected purchase price of $8.8 million for four properties and $169.5 million for seven additional properties across 2025, 2026, and 2027.

Opportunities:

• CHCT expects to begin leases for three redevelopment projects in Q1 2025, reflecting potential growth in rental income.

Risks:

• Tenant issues with the geriatric psychiatric hospital operator affecting rent collections, as CHCT has not yet received rent and interest from a significant tenant in six properties, leading to financial uncertainty.

• Reduced occupancy to 91.3% due to lease terminations and expirations.

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