Community Healthcare Trust: 1Q Earnings Snapshot
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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.
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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.
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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.
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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