$CHCT

Community Healthcare Trust Inc

CIK:0001631569|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

REVENUES

Rental income

$ 30,971

$ 30,128

$ 62,240

$ 59,858

Other operating interest

253

(1,043)

508

(695)

Total revenue

31,224

29,085

62,748

59,163

EXPENSES

Property operating

5,865

5,585

12,234

11,680

General and administrative

^[1]

4,890

10,559

9,998

15,659

Depreciation and amortization

10,738

10,879

21,395

21,822

Total expenses

21,493

27,023

43,627

49,161

OTHER (EXPENSE) INCOME

Gains on sale, net of loss and impairment of real estate assets

640

Interest expense

(7,428)

(6,592)

(14,227)

(12,944)

Credit loss reserve

(8,672)

Deferred income tax benefit

Interest and other income, net

Total other income (expense)

(7,367)

(14,619)

(14,209)

(20,968)

NET INCOME (LOSS)

$ 2,364

$ (12,557)

$ 4,912

$ (10,966)

NET INCOME (LOSS) PER COMMON SHARE

Net income (loss) per common share - Basic (in dollars per share)

$ 0.06

$ (0.50)

$ 0.12

$ (0.47)

Net income (loss) per common share - Diluted (in dollars per share)

$ 0.06

$ (0.50)

$ 0.12

$ (0.47)

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC (in shares)

27,016

26,803

27,004

26,768

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED (in shares)

27,016

26,803

27,004

26,768

[1]

(1) General and administrative expenses for the three and six months ended June 30, 2026 included stock-based compensation expense totaling approximately $2.8 million and $5.5 million, respectively. General and administrative expenses for the three and six months ended June 30, 2025 included severance and transition-related expenses totaling $1.3 million and non-cash stock-based compensation expense totaling approximately $7.1 million and $9.8 million, respectively, each including accelerated amortization of $4.6 million related to the termination of a former executive officer. See Note 9 – Stock Incentive Plan.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income (loss)	$ 4,912	$ (10,966)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	21,395	21,822
Other amortization	792	544
Stock-based compensation	5,489	5,241
Accelerated amortization of stock-based compensation	0	4,591
Straight-line rent receivable	(1,351)	(1,823)
Gains on sale, net of loss and impairment of real estate assets	0	(640)
Credit loss reserve	0	8,672
Changes in operating assets and liabilities:
Other assets	1,246	1,668
Accounts payable and accrued liabilities	402	558
Other liabilities	(1,612)	(1,459)
Net cash provided by operating activities	31,273	28,208
INVESTING ACTIVITIES
Acquisitions of real estate	(28,514)	(9,711)
Proceeds from sale of real estate	6,276	615
Proceeds from the repayment of notes receivable	300	4,975
Capital expenditures on existing real estate properties	(9,153)	(8,911)
Net cash used in investing activities	(31,091)	(13,032)
FINANCING ACTIVITIES
Net borrowings on revolving credit facility	27,000	14,000
Dividends paid	(27,419)	(26,645)
Taxes paid on behalf of employees and shares withheld upon shares vesting	(398)	(1,735)
Equity issuance costs	(32)	(317)
Net cash used in financing activities	(849)	(14,697)
(Decrease) Increase in cash and cash equivalents	(667)	479
Cash and cash equivalents, beginning of period	3,340	4,384
Cash and cash equivalents, end of period	2,673	4,863
Supplemental Cash Flow Information:
Interest paid (net of capitalized interest)	13,704	12,420
Invoices accrued for construction, tenant improvement, and other capitalized costs	7,723	4,148
Reclassification between other assets and proceeds from sale of real estate	664	0
Reclassification of registration statement costs to equity issuance costs	85	121
Increase (decrease) in fair value of cash flow hedges	4,494	(4,876)
Income taxes paid	80	20
Capitalized interest	$ 111	$ 80

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Real estate properties
Land and land improvements	$ 163,506	$ 154,673
Buildings, improvements, and lease intangibles	1,077,295	1,047,743
Personal property	814	813
Total real estate properties	1,241,615	1,203,229
Less accumulated depreciation	(301,593)	(280,316)
Total real estate properties, net	940,022	922,913
Cash and cash equivalents	2,673	3,340
Assets held for sale, net	0	5,265
Other assets, net	60,900	59,239
Total assets	1,003,595	990,757
Liabilities
Debt, net	559,321	532,199
Accounts payable and accrued liabilities	17,691	14,925
Other liabilities, net	12,341	14,246
Total liabilities	589,353	561,370
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 50,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.01 par value; 450,000 shares authorized; 28,655 and 28,471 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	287	285
Additional paid-in capital	722,454	717,450
Cumulative net income	95,689	90,777
Accumulated other comprehensive income	9,047	6,691
Cumulative dividends	(413,235)	(385,816)
Total stockholders’ equity	414,242	429,387
Total liabilities and stockholders' equity	$ 1,003,595	$ 990,757