FRANKLIN, Tenn. – FRANKLIN, Tenn. (AP) _ Community Healthcare Trust Inc. (CHCT) on Tuesday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Franklin, Tennessee, said it had funds from operations of $7 million, or 39 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 38 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 $1.9 million, or 9 cents per share.
The real estate investment trust posted revenue of $11.4 million in the period.
The company's shares have dropped 3.5 percent since the beginning of the year. The stock has climbed roughly 9 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CHCT at https://www.zacks.com/ap/CHCT