false000163156900016315692024-02-132024-02-13


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 13, 2024

COMMUNITY HEALTHCARE TRUST INCORPORATED
(Exact Name of Registrant as Specified in its Charter)
Maryland 001-37401 46-5212033
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)

3326 Aspen Grove Drive, Suite 150, Franklin, Tennessee 37067
(Address of principal executive offices) (Zip Code)

(615) 771-3052
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each ClassTrading SymbolName of each exchange on which registered
Common stock, $0.01 par value per shareCHCTNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02    Results of Operations and Financial Condition

    On February 13, 2024, Community Healthcare Trust Incorporated (the "Company") issued a press release announcing its earnings for the fourth quarter ended December 31, 2023. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

    This information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act.

Item 7.01     Regulation FD Disclosure

    The Company is furnishing its Supplemental Information for the fourth quarter ended December 31, 2023, which is also contained on its website (www.chct.reit). See Exhibit 99.2 to this Current Report on Form 8-K.

    The Company has prepared an investor presentation for the fourth quarter ended December 31, 2023 that is expected to be used in meetings with current and potential investors. A copy of this presentation is available on the Company's website (www.chct.reit).

    This information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act.

Item 9.01 Financial Statements and Exhibits

The exhibits required by Item 601 of Regulation S-K which are filed with this report are listed in the Exhibit Index and are hereby incorporated in by reference.





EXHIBIT INDEX
Exhibit No.Description
99.1
Press release dated February 13, 2024
99.2
104Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)





SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 COMMUNITY HEALTHCARE TRUST INCORPORATED
By:/s/ William G. Monroe IV
William G. Monroe IV
Executive Vice President and Chief Financial Officer
February 13, 2024  




Exhibit 99.1

News Release

Community Healthcare Trust Announces Results for the Three Months Ended December 31, 2023

FRANKLIN, Tenn., February 13, 2024 / PRNewswire / -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended December 31, 2023. The Company reported net income for the three months ended December 31, 2023 of approximately $4.6 million, or $0.15 per diluted common share. Funds from operations ("FFO") and adjusted funds from operations ("AFFO") for the three months ended December 31, 2023 totaled $0.57 and $0.61, respectively, per diluted common share. 

Items Impacting Our Results include:
•During the three months ended December 31, 2023, the Company acquired two real estate properties for an aggregate purchase price of approximately $7.1 million. Upon acquisition, the properties totaling approximately 48,000 square feet, were 97.5% leased in the aggregate with lease expirations through 2031.

•Subsequent to December 31, 2023, the Company acquired one long term acute care hospital (LTACH) for a purchase price of approximately $6.5 million and cash consideration of approximately $6.6 million. Upon acquisition, the property was 100.0% leased with a lease expiration in 2039. The acquisition was funded with proceeds from the Company's Revolving Credit Facility.

•The Company has three properties under definitive purchase agreements for an expected aggregate purchase price of approximately $27.9 million. The Company's expected aggregate return on these investments ranges from approximately 9.08% to 9.20%. The Company expects to close on these properties during the first half of 2024; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.

•The Company has seven properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $166.5 million. The Company's expected returns on these investments are approximately 9.1% to 9.75%. The Company anticipates closing on two of these properties in 2024 with the remainder throughout 2025 and 2026; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.

•During the fourth quarter of 2023, the Company issued, through its at-the-market offering program, approximately 348,000 shares of common stock at an average gross sales price of $27.73 per share for net proceeds of approximately $9.5 million at an approximate 6.70% current equity yield.

•The Company has one property under a definitive sale agreement. The sales price less estimated costs to sell exceed the carrying value of the property. The Company expects to close on this property during the second or third quarter of 2024; however, the Company cannot provide assurance as to the timing of when, or whether, this transaction will actually close.

•To provide an update on the bankruptcy with one of the Company's tenants, on November 22, 2023, GenesisCare had its disclosure statement and plan of reorganization approved by the U.S. Bankruptcy Court. As part of their plan of reorganization, GenesisCare is expected to assume or assign to buyers all of the Company's remaining leases with no material changes to the lease terms. The effective date of the plan of reorganization is expected to be during the first quarter of 2024; however, GenesisCare already closed on the assignment of two of the Company's leases during January 2024 with two separate buyers. GenesisCare has met substantially all of its lease payment obligations due to the Company through February 2024.

•On February 8, 2024, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.4575 per share. The dividend is payable on March 1, 2024 to stockholders of record on February 20, 2024.
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About Community Healthcare Trust Incorporated
Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States. As of December 31, 2023, the Company had investments of approximately $1.1 billion in 193 real estate properties (including a portion of one property accounted for as a sales-type lease and two properties classified as held for sale). The properties are located in 34 states, totaling approximately 4.3 million square feet in the aggregate.

Additional information regarding the Company, including this quarter's operations, can be found at www.chct.reit.  Please contact the Company at 615-771-3052 to request a printed copy of this information.


Cautionary Note Regarding Forward-Looking Statements
In addition to the historical information contained within, the matters discussed in this press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “believes”, “expects”, “may”, “will,” “should”, “seeks”, “approximately”, “intends”, “plans”, “estimates”, “anticipates” or other similar words or expressions, including the negative thereof. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Community Healthcare Trust Incorporated (the "Company"). Thus, the Company’s actual results and financial condition may differ materially from those indicated in such forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company’s common stock, changes in the Company’s business strategy, availability, terms and deployment of capital, the Company’s ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, changes in the real estate industry in general, interest rates or the general economy, adverse developments related to the healthcare industry, changes in governmental regulations, the degree and nature of the Company’s competition, the ability to consummate acquisitions under contract, catastrophic or extreme weather and other natural events and the physical effects of climate change, the occurrence of cyber incidents, effects on global and national markets as well as businesses resulting from increased inflation, rising interest rates, supply chain disruptions, labor conditions, the conflict between Russia and Ukraine, and/or new and ongoing hostilities between Israel and Hamas, and the other factors described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and the Company’s other filings with the Securities and Exchange Commission from time to time. Readers are therefore cautioned not to place undue reliance on the forward-looking statements contained herein which speak only as of the date hereof. The Company intends these forward-looking statements to speak only as of the time of this press release and undertakes no obligation to update forward-looking statements, whether as a result of new information, future developments, or otherwise, except as may be required by law.


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COMMUNITY HEALTHCARE TRUST INCORPORATED
CONSOLIDATED BALANCE SHEETS
(Dollars and shares in thousands, except per share amounts)
December 31, 2023December 31, 2022
ASSETS
Real estate properties:
Land and land improvements
$136,532 $117,657 
Buildings, improvements, and lease intangibles
913,416 825,257 
Personal property
299 253 
Total real estate properties
1,050,247 943,167 
Less accumulated depreciation
(200,810)(165,341)
Total real estate properties, net
849,437 777,826 
Cash and cash equivalents
3,491 11,233 
Restricted cash
1,142 835 
Real estate properties held for sale7,466 — 
Other assets, net
83,876 86,531 
Total assets
$945,412 $876,425 
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Debt, net
$403,256 $352,997 
Accounts payable and accrued liabilities
12,032 11,377 
Other liabilities, net
16,868 15,237 
Total liabilities
432,156 379,611 
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 50,000 shares authorized; none issued and outstanding
— — 
Common stock, $0.01 par value; 450,000 shares authorized; 27,613 and 25,897 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively
276 259 
Additional paid-in capital
688,156 625,136 
Cumulative net income
88,856 81,142 
Accumulated other comprehensive gain
16,417 22,667 
Cumulative dividends
(280,449)(232,390)
Total stockholders’ equity
513,256 496,814 
Total liabilities and stockholders' equity
$945,412 $876,425 

The Consolidated Balance Sheets do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.
 

3


COMMUNITY HEALTHCARE TRUST INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE AND TWELVE MONTHS ENDED MONTHS ENDED DECEMBER 31, 2023 AND 2022
( Dollars and shares in thousands, except per share amounts)

Three Months Ended
December 31,		Twelve Months Ended
December 31,
2023202220232022
(Unaudited)
REVENUES
Rental income$28,100 $24,383 $108,682 $94,103 
Other operating interest1,024 959 4,163 3,576 
29,124 25,342 112,845 97,679 
EXPENSES
Property operating5,598 4,156 20,713 16,636 
General and administrative (1)
3,728 4,149 27,338 14,837 
Depreciation and amortization10,248 8,317 39,693 32,339 
19,574 16,622 87,744 63,812 
OTHER INCOME (EXPENSE)
Impairment of real estate asset— — (102)— 
Interest expense(5,019)(3,464)(17,792)(11,873)
Deferred income tax expense— (21)(306)(41)
Interest and other income, net36 3 813 66 
(4,983)(3,482)(17,387)(11,848)
NET INCOME$4,567 $5,238 $7,714 $22,019 
NET INCOME PER COMMON SHARE (1):
Net Income per common share - Basic$0.15 $0.19 $0.20 $0.81 
Net Income per common share - Diluted$0.15 $0.19 $0.20 $0.81 
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC25,981 23,787 25,202 23,631 
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED25,981 23,787 25,202 23,631 
___________
(1) General and administrative expenses for the twelve months ended December 31, 2023 included stock-based compensation expense totaling approximately $20.0 million, including the accelerated amortization of stock-based compensation totaling approximately $11.8 million, or $0.47 per diluted common share, recognized upon the passing of our former CEO and President. General and administrative expenses for the twelve months ended December 31, 2022 included stock-based compensation expense totaling approximately $9.4 million.

The Consolidated Statements of Income do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.


4


COMMUNITY HEALTHCARE TRUST INCORPORATED
RECONCILIATION OF FFO and AFFO (1)
(Unaudited; Dollars and shares in thousands, except per share amounts)
Three Months Ended December 31,
20232022
Net income$4,567 $5,238 
   Real estate depreciation and amortization10,347 8,382 
   Total adjustments10,347 8,382 
FFO$14,914 $13,620 
   Straight-line rent(872)(854)
   Stock-based compensation2,029 2,645 
AFFO$16,071 $15,411 
   FFO per Common Share-Diluted
$0.57 $0.56 
   AFFO per Common Share-Diluted$0.61 $0.63 
Weighted Average Common Shares Outstanding-Diluted (2)
26,346 24,471 
 
(1)
Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. However, since real estate values have historically risen or fallen with market conditions, many industry investors deem presentations of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. For that reason, the Company considers funds from operations ("FFO") and adjusted funds from operations ("AFFO") to be appropriate measures of operating performance of an equity real estate investment trust ("REIT"). In particular, the Company believes that AFFO is useful because it allows investors, analysts and Company management to compare the Company's operating performance to the operating performance of other real estate companies and between periods on a consistent basis without having to account for differences caused by unanticipated items and other events.

The Company uses the National Association of Real Estate Investment Trusts, Inc. ("NAREIT") definition of FFO. FFO is an operating performance measure adopted by NAREIT. NAREIT defines FFO as the most commonly accepted and reported measure of a REIT’s operating performance equal to net income (calculated in accordance with GAAP), excluding gains or losses from the sale of certain real estate assets, gains and losses from change in control, impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, plus depreciation and amortization related to real estate properties, and after adjustments for unconsolidated partnerships and joint ventures. NAREIT also provides REITs with an option to exclude gains, losses and impairments of assets that are incidental to the main business of the REIT from the calculation of FFO.

In addition to FFO, the Company presents AFFO and AFFO per share. The Company defines AFFO as FFO, excluding certain expenses related to closing costs of properties acquired accounted for as business combinations and mortgages funded, excluding straight-line rent and the amortization of stock-based compensation, and including or excluding other non-cash items from time to time. AFFO presented herein may not be comparable to similar measures presented by other real estate companies due to the fact that not all real estate companies use the same definition.

FFO and AFFO should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of the Company's financial performance or as alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of the Company’s liquidity, nor are they necessarily indicative of sufficient cash flow to fund all of the Company’s needs. The Company believes that in order to facilitate a clear understanding of the consolidated historical operating results of the Company, FFO and AFFO should be examined in conjunction with net income as presented elsewhere herein.
(2)Diluted weighted average common shares outstanding for FFO and AFFO are calculated based on the treasury method, rather than the 2-class method used to calculate earnings per share.

CONTACT: Bill Monroe, 615-771-3052
SOURCE: Community Healthcare Trust Incorporated
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Exhibit 99.2                
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CHCT
LISTED
NYSE
                
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SUPPLEMENTAL INFORMATION
Q4 2023

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Community Healthcare Trust4Q 2023 | Supplemental Information
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ABOUT US
CHCT is a self-managed healthcare real estate investment trust (“REIT”) that owns a diverse portfolio of properties including medical office buildings, acute inpatient behavioral facilities, inpatient rehabilitation facilities, physician clinics, specialty centers, behavioral specialty facilities, and surgical centers and hospitals across the United States, primarily outside of urban centers. As a result of favorable demographic trends, increases in healthcare spending, and the shift in the delivery of healthcare services to community-based facilities, we believe our properties are essential for healthcare providers to serve their local markets. 




TABLE OF CONTENTS



Community Healthcare Trust4Q 2023 | Supplemental Information
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COMPANY SNAPSHOT
                                                        
December 31, 2023
Gross real estate investments (in thousands) (1)
$1,060,728 
Total properties193 
% Leased (2)
91.1 %
Total square feet owned4,251,880 
Weighted Average remaining lease term (years)6.9
Cash and cash equivalents and restricted cash (in thousands)$4,633 
Debt to Total Capitalization36.1 %
Weighted average interest rate per annum on Revolving Line of Credit7.1 %
Weighted average interest rate per annum on Term Loans4.3 %
Equity market cap (in millions)$735.6 
Quarterly dividend paid in the period (per share)$0.4550 
Quarter end stock price (per share)$26.64 
Dividend yield6.83 %
Common shares outstanding27,612,732 
___________
(1) Includes a portion of one property accounted for as a sales-type lease and two properties classified as held for sale.
(2) Excludes real estate assets held for sale.

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Community Healthcare Trust
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4Q 2023 | Supplemental Information
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CORPORATE INFORMATION
Community Healthcare Trust Incorporated
3326 Aspen Grove Drive, Suite 150
Franklin, TN 37067
Phone: 615-771-3052
E-mail: Investorrelations@chct.reit
Website: www.chct.reit
BOARD OF DIRECTORS
Alan GardnerRobert HensleyClaire GulmiR. Lawrence Van HornCathrine CotmanDavid H. Dupuy
Chairman of the
Board		Audit Committee
Chair		Compensation Committee
Chair		ESG Committee
Chair		Board
member		Board
member
EXECUTIVE MANAGEMENT TEAM
David H. DupuyWilliam G. Monroe IVLeigh Ann StachTimothy L. Meyer
Chief Executive Officer
and President		Executive Vice President
Chief Financial Officer		Executive Vice President
Chief Accounting Officer		Executive Vice President
Asset Management
COVERING ANALYSTS
A. Goldfarb - Piper SandlerM. Lewis - Truist Securities
S. Sakwa - Evercore ISIR. Stevenson - Janney Capital Markets
W. Golladay - BairdD. Toti - Colliers International Securities
PROFESSIONAL SERVICES
Independent Registered Public Accounting Firm Transfer Agent
BDO USA, P.C.Equiniti Trust Company, LLC
501 Commerce Street, Suite 1400Operations Center
Nashville, TN 37203
6201 15th Avenue
Brooklyn, NY 11219
1-800-937-5449


Community Healthcare Trust
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4Q 2023 | Supplemental Information
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FINANCIAL HIGHLIGHTS
Three Months Ended
4Q 20233Q 20232Q 20231Q 20234Q 2022
(Unaudited and in thousands, except per share data)
STATEMENTS OF OPERATIONS ITEMS
Revenues$29,124 $28,735 $27,810 $27,176 $25,342 
Net income (loss) (1)(2)(3)
$4,567 $3,492 $6,577 $(6,922)$5,238 
NOI$23,526 $23,279 $23,024 $22,303 $21,186 
EBITDAre
$19,834 $19,664 $19,986 $6,123 $17,040 
Adjusted EBITDAre
$21,863 $21,562 $20,972 $20,469 $19,685 
FFO (2)
$14,914 $14,969 $15,870 $2,166 $13,620 
AFFO$16,071 $16,423 $16,037 $15,595 $15,411 
Per Diluted Share:
Net income (loss) attributable to common shareholders $0.15 $0.11 $0.24 $(0.32)$0.19 
FFO$0.57 $0.58 $0.62 $0.09 $0.56 
AFFO$0.61 $0.63 $0.63 $0.62 $0.63 
___________
(1) Net loss for the first quarter of 2023 included accelerated amortization of deferred compensation of approximately $11.8 million, or $0.47 per diluted common share and $0.46 FFO per diluted share, recognized upon passing of our former CEO and President.
(2) Net income for the second quarter of 2023 includes a $0.7 million net casualty gain recognized from insurance proceeds received related to one property that was vandalized, increasing FFO by $0.03 per diluted share.
(3) Net income for the third quarter of 2023 included accelerated amortization of lease intangibles on the two GenesisCare properties where the leases have been rejected of approximately $1.5 million, or $0.06 per diluted common share.
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Community Healthcare Trust
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4Q 2023 | Supplemental Information
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FINANCIAL HIGHLIGHTS (Continued)
As of
4Q 20233Q 20232Q 20231Q 20234Q 2022
(Unaudited and dollars in thousands)
BALANCE SHEET ITEMS
ASSETS
Total real estate properties$1,050,247 $1,044,893 $986,948 $971,026 $943,167 
Total assets$945,412 $955,126 $900,466 $886,294 $876,425 
CAPITALIZATION
Net debt$403,256 $401,192 $368,127 $365,061 $352,997 
Total capitalization$1,117,322 $1,116,448 $1,055,221 $1,033,922 $1,015,152 
Net debt/total capitalization36.1 %35.9 %34.9 %35.3 %34.8 %
Market valuation$735,603 $809,760 $876,392 $961,617 $927,129 
Enterprise value$1,134,226 $1,206,019 $1,240,843 $1,322,053 $1,268,058 
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Community Healthcare Trust
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4Q 2023 | Supplemental Information
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CONSOLIDATED BALANCE SHEETS
As of
4Q 20233Q 20232Q 20231Q 20234Q 2022
ASSETS
(Unaudited; Dollars and shares in thousands, except per share data)
Real estate properties
Land and land improvements
$136,532 $135,809 $127,433 $122,702 $117,657 
Buildings, improvements, and lease intangibles
913,416 908,788 859,231 848,060 825,257 
Personal property
299 296 284 264 253 
Total real estate properties
1,050,247 1,044,893 986,948 971,026 943,167 
Less accumulated depreciation
(200,810)(192,962)(181,769)(174,346)(165,341)
Total real estate properties, net
849,437 851,931 805,179 796,680 777,826 
Cash and cash equivalents
3,491 3,885 2,627 3,666 11,233 
Restricted cash
1,142 1,048 1,049 959 835 
Real estate properties held for sale7,466 1,115 1,252 — — 
Other assets, net
83,876 97,147 90,359 84,989 86,531 
Total assets
$945,412 $955,126 $900,466 $886,294 $876,425 
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Debt, net
$403,256 $401,192 $368,127 $365,061 $352,997 
Accounts payable and accrued liabilities
12,032 15,446 10,605 10,478 11,377 
Other liabilities, net
16,868 16,194 16,409 16,240 15,237 
Total liabilities
432,156 432,832 395,141 391,779 379,611 
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 50,000 shares authorized
— — — — — 
Common stock, $0.01 par value; 450,000 shares authorized
276 273 265 263 259 
Additional paid-in capital
688,156 676,716 657,057 648,384 625,136 
Cumulative net income
88,856 84,289 80,797 74,220 81,142 
Accumulated other comprehensive gain
16,417 29,038 23,085 15,684 22,667 
Cumulative dividends
(280,449)(268,022)(255,879)(244,036)(232,390)
Total stockholders’ equity
513,256 522,294 505,325 494,515 496,814 
Total liabilities and stockholders' equity
$945,412 $955,126 $900,466 $886,294 $876,425 
Community Healthcare Trust
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4Q 2023 | Supplemental Information
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CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended
4Q 20233Q 20232Q 20231Q 20234Q 2022
(Unaudited; Dollars and shares in thousands, except per share data)
REVENUES
Rental income
$28,100 $27,690 $26,764 $26,128 $24,383 
Other operating interest
1,024 1,045 1,046 1,048 959 
29,124 28,735 27,810 27,176 25,342 
EXPENSES
Property operating
5,598 5,456 4,786 4,873 4,156 
        General and administrative (1) (2)
3,728 3,618 3,787 16,205 4,149 
Depreciation and amortization
10,248 11,208 9,219 9,018 8,317 
19,574 20,282 17,792 30,096 16,622 
OTHER INCOME (EXPENSE)
Impairment of real estate asset— (102)— — — 
Interest expense(5,019)(4,641)(4,140)(3,992)(3,464)
Deferred income tax expense— (221)(50)(35)(21)
Interest and other income, net36 3 749 25 3 
$(4,983)$(4,961)$(3,441)$(4,002)$(3,482)
NET INCOME (LOSS)$4,567 $3,492 $6,577 $(6,922)$5,238 
NET INCOME (LOSS) PER COMMON SHARE
NET INCOME (LOSS) PER DILUTED COMMON SHARE
$0.15 $0.11 $0.24 $(0.32)$0.19 
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
25,981 25,514 25,065 24,227 23,787 
DIVIDENDS DECLARED, PER COMMON SHARE, IN THE PERIOD
$0.4550 $0.4525 $0.4500 $0.4475 $0.4450 
                                      
(1) GENERAL AND ADMINISTRATIVE EXPENSES:
Non-cash vs. Cash:
     Non-cash (stock-based compensation)
54.4 %52.5 %44.7 %57.8 %63.8 %
     Cash
45.6 %47.5 %55.3 %42.2 %36.2 %
As a % of Revenue:
     Non-cash (stock-based compensation)
6.9 %6.6 %5.9 %9.3 %10.4 %
     Cash
5.8 %6.0 %7.3 %6.8 %5.9 %
(2) General and administrative expenses for the three months ended March 31, 2023 includes the accelerated amortization of stock-based compensation totaling $11.8 million recognized upon the passing of our former CEO and President but the accelerated amortization is not included in the calculations above in footnote (1).
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4Q 2023 | Supplemental Information
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RECONCILIATION OF NON-GAAP MEASURES
FUNDS FROM OPERATIONS (FFO)
ADJUSTED FUNDS FROM OPERATIONS (AFFO)
Three Months Ended
4Q 20233Q 20232Q 20231Q 20234Q 2022
(Unaudited; Dollars and shares in thousands, except per share data)
NET INCOME (LOSS)$4,567 $3,492 $6,577 $(6,922)$5,238 
Real estate depreciation and amortization10,347 11,375 9,293 9,088 8,382 
Impairment of real estate asset— 102 — — — 
Total adjustments10,347 11,477 9,293 9,088 8,382 
FFO (1)$14,914 $14,969 $15,870 $2,166 $13,620 
Straight-line rent(872)(444)(819)(917)(854)
Stock-based compensation2,029 1,898 1,692 2,547 2,645 
Accelerated amortization of stock-based compensation— — — 11,799 — 
Net gain from insurance recovery on casualty loss— — (706)— — 
AFFO$16,071 $16,423 $16,037 $15,595 $15,411 
FFO PER COMMON SHARE (1)$0.57 $0.58 $0.62 $0.09 $0.56 
AFFO PER COMMON SHARE$0.61 $0.63 $0.63 $0.62 $0.63 
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING26,346 26,025 25,650 25,298 24,471 
________________
(1) FFO for the second quarter of 2023 includes a $0.7 million net casualty gain from insurance proceeds received related to one property that was vandalized. The net gain increased FFO by $0.03 per diluted share for the three months ended June 30, 2023.
AFFO, ADJUSTED FOR ACQUISITIONS (1)
AFFO$16,071 $16,423 $16,037 $15,595 $15,411 
Revenue on Properties Acquired in the period (2)15 757 308 383 1,116 
Property operating expense adjustment (2)(5)(149)(71)(104)(308)
Interest expense adjustment (3)(3)(165)(68)(65)(232)
AFFO, ADJUSTED FOR ACQUISITIONS$16,078 $16,866 $16,206 $15,809 $15,987 
                                   
(1) AFFO is adjusted to reflect acquisitions as if they had occurred on the first day of the applicable period.
(2) Revenue and expense adjustments are calculated based on expected returns and leases in place at acquisition.
(3) Assumes that acquisitions were 40% funded with debt and the remainder funded with equity. The interest expense adjustment was calculated using the weighted average interest rate on the Company's revolving credit facility for the period.
AMORTIZATION OF STOCK-BASED COMPENSATION (1)
Amortization Required by GAAP (2)$2,029 $1,898 $1,692 $2,547 $2,675 
Amortization Based on Legal Vesting Periods1,563 1,540 1,430 1,830 1,845 
Acceleration of Amortization$466 $358 $262 $717 $830 
                                   
(1) Excludes the accelerated amortization totaling $11.8 million recognized in the first quarter of 2023 upon the passing of our former CEO and President.
(2) GAAP requires that deferred compensation be amortized over the earlier of the vesting or retirement eligibility date.
Community Healthcare Trust
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4Q 2023 | Supplemental Information
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RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)
NET OPERATING INCOME (NOI)
Three Months Ended
4Q 20233Q 20232Q 20231Q 20234Q 2022
(Unaudited; Dollars and shares in thousands, except per share data)
NET OPERATING INCOME
Net income (loss)$4,567 $3,492 $6,577 $(6,922)$5,238 
General and administrative3,728 3,618 3,787 4,406 4,149 
Accelerated amortization of stock-based compensation— — — 11,799 — 
Depreciation and amortization10,248 11,208 9,219 9,018 8,317 
Impairment of real estate asset— 102 — — — 
Interest expense5,019 4,641 4,140 3,992 3,464 
Deferred Income tax expense— 221 50 35 21 
Interest and other income, net(36)(3)(749)(25)(3)
NOI$23,526 $23,279 $23,024 $22,303 $21,186 
EBITDAre and ADJUSTED EBITDAre
EBITDAre
Net income (loss)$4,567 $3,492 $6,577 $(6,922)$5,238 
Interest expense5,019 4,641 4,140 3,992 3,464 
Depreciation and amortization10,248 11,208 9,219 9,018 8,317 
Deferred Income tax expense— 221 50 35 21 
Impairment of real estate asset— 102 — — — 
EBITDAre
$19,834 $19,664 $19,986 $6,123 $17,040 
Non-cash stock-based compensation expense2,029 1,898 1,692 2,547 2,645 
Accelerated amortization of stock-based compensation— — — 11,799 — 
Net gain from insurance recovery on casualty loss— — (706)— — 
ADJUSTED EBITDAre
$21,863 $21,562 $20,972 $20,469 $19,685 
ADJUSTED EBITDAre ANNUALIZED (1)
$87,452 

(1)
Adjusted EBITDAre multiplied by 4. This annualized amount may differ significantly from the actual full year results.



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4Q 2023 | Supplemental Information
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WEIGHTED AVERAGE SHARES
Three Months Ended
4Q 20233Q 20232Q 20231Q 20234Q 2022
(Unaudited; Dollars and shares in thousands, except per share data)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Weighted average common shares outstanding27,355 26,823 26,358 26,043 25,498 
Unvested restricted shares
(1,374)(1,309)(1,293)(1,816)(1,711)
Weighted average common shares outstanding - EPS
25,981 25,514 25,065 24,227 23,787 
Weighted average common shares outstanding - FFO Basic
25,981 25,514 25,065 24,227 23,787 
Dilutive potential common shares (from below) 365 511 585 1,071 684 
Weighted average common shares outstanding - FFO Diluted26,346 26,025 25,650 25,298 24,471 
TREASURY SHARE CALCULATION
Unrecognized deferred compensation-end of period$26,776 $28,814 $24,780 $24,465 $33,652 
Unrecognized deferred compensation-beginning of period$28,814 $24,780 $24,465 $33,652 $36,364 
Average unrecognized deferred compensation$27,795 $26,797 $24,623 $29,059 $35,008 
Average share price per share$27.54 $33.56 $34.78 $39.01 $34.06 
Treasury shares1,009 798 708 745 1,027 
Unvested restricted shares(1,374)(1,309)(1,293)(1,816)(1,711)
Treasury shares1,009 798 708 745 1,027 
Dilutive potential common shares365 511 585 1,071 684 


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4Q 2023 | Supplemental Information
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EXECUTIVE COMPENSATION
Performance Based Incentive Compensation
Name and PositionYearTotal
Compensation		Salary
Taken In
Stock (1)		Other (2)Bonus
Stock (1)		Alignment
of Interest
Stock (3)		3-Year Total
Shareholder
 Return
 Stock		5-Year Total Shareholder Return
 Stock		Total
Performance
Based
Incentive
Compensation		Percent
of Total
Timothy G. Wallace (4)2023$24,793,238 $863,295 $22,913,954 $— $1,015,989 $— $— $1,015,989 4.1 %
Former Chief Executive Officer and President2022$4,540,328 $794,200 $12,425 $913,330 $1,710,257 $222,023 $888,093 $3,733,703 82.2 %
2021$4,788,861 $750,000 $11,650 $862,500 $1,621,703 $771,504 $771,504 $4,027,211 84.1 %
David Dupuy (4)2023$3,533,747 $617,834 $13,300 $776,700 $1,446,229 $169,921 $509,763 $2,902,613 82.1 %
Chief Executive Officer and President
Former Chief Financial Officer		2022$2,785,183 $487,200 $7,487 $560,280 $1,049,216 $136,192 $544,808 $2,290,496 82.2 %
2021$3,183,341 $460,000 $253,262 $529,000 $994,675 $473,202 $473,202 $2,470,079 77.6 %
William G. Monroe IV (5)2023$1,404,703 $280,000 $242,135 $48,000 $330,508 $126,006 $378,054 $882,568 62.8 %
Executive Vice President and
Chief Financial Officer		2022$— $— $— $— $— $— $— $— n/a
2021$— $— $— $— $— $— $— $— n/a
Leigh Ann Stach2023$2,495,269 $446,214 $13,300 $535,457 $1,031,703 $117,140 $351,455 $2,035,755 81.6 %
Executive Vice President and
Chief Accounting Officer		2022$2,342,141 $410,500 $1,750 $472,075 $883,998 $114,764 $459,054 $1,929,891 82.4 %
2021$2,472,513 $387,600 $3,648 $445,740 $838,123 $398,701 $398,701 $2,081,265 84.2 %
Timothy L. Meyer (6)2023$1,896,382 $339,579 $7,532 $407,495 $785,175 $89,150 $267,451 $1,549,271 81.7 %
Executive Vice President - Asset Management2022$1,785,445 $312,400 $4,311 $359,260 $672,777 $87,339 $349,358 $1,468,734 82.3 %
2021$917,202 $280,000 $14,789 $165,000 $457,413 $— $— $622,413 67.9 %
(1) Each Executive Officer has elected to take 100% of their salary and cash bonus in deferred stock with an 8-year cliff vesting.
(2) Other includes employer contributions to the executive officer's health savings account (HSA) and 401(k); temporary living expenses for Mr. Monroe for 2023; the value of the grant of 5,000 shares of restricted stock to Mr. Dupuy in 2021, the value of the grant of 260 shares of restricted stock to Mr. Meyer in 2021, and the value of the grant of 7,000 shares of restricted stock to Mr. Monroe in 2023. For Mr. Wallace this includes the value of his 624,725 shares of restricted stock that were vested upon his passing in 2023.
(3) Alignment of interest stock grants per the Alignment Interest Program which is part of the Company's Incentive Plan.
(4) Mr. Dupuy was appointed as CEO effective March 6, 2023, upon the passing of our former CEO and President Timothy G. Wallace, and continued on as CFO until his successor was named on June 1, 2023.
(5) Mr. Monroe was appointed as CFO effective June 1, 2023.
(6) Mr. Meyer joined the Company on July 1, 2019 and was promoted to Executive Vice President on October 1, 2021.
Community Healthcare Trust
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4Q 2023 | Supplemental Information
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CEO Pay Ratios (1)
CEO and
President (2)		Median
Employee		Average
Employee		Lowest Paid
Employee
Cash$— $102,900 $114,897 $62,900 
Compensation Taken in Stock3,600,179 8,733 208,636 — 
Other Compensation13,300 4,988 4,467 — 
Total Compensation (2)$3,613.479 $116,621 $328,000 $62,900 
CEO to Employee Ratio31:111:157:1
___________
(1) This table excludes part-time employees who worked less than 20 hours per week.
(2) Since the Company had two CEOs during 2023, the Company calculated and used annualized compensation for Mr. Dupuy in the CEO Pay Ratio table above.
Community Healthcare Trust
Page | 13
4Q 2023 | Supplemental Information
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DEBT SUMMARY
As of December 31, 2023
Principal
Balance		Stated
Rate		Hedged
Rate
(in thousands)
Revolving credit facility$50,000 7.06 %— 
Term loan A-375,000 4.29 %
Term loan A-4125,000 3.35 %
Term loan A-5150,000 5.11 %
Total Credit Facility400,000 
Secured mortgage loan4,821 4.98 %— 
Debt404,821 
Deferred Financing Costs, net(1,565)
Debt, net$403,256 

chart-0a60dc12e23445aca88a.jpg

Select CovenantsRequired4Q 2023
Leverage ratio≤ 60.0%37.0 %
Fixed charge coverage ratio≥ 1.50x4.4
Tangible net worth (in thousands)≥ $498,857$690,186
Secured indebtedness≤ 30.0%0.4 %
Minimum debt service coverage ratio≥ 2.04.9

Community Healthcare Trust
Page | 14
4Q 2023 | Supplemental Information
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2023 PROPERTY ACQUISITIONS
PropertyMarketProperty
Type		Date
Acquired		% Leased at Acquisition
Purchase
 Price
(in thousands)
Square Feet
Emory HealthcareLaGrange, GAMOB1/18/2023100.0 %$8,007 55,310 
Emory HealthcareWest Point, GAMOB1/18/2023100.0 %811 5,600 
Hills & Dales Professional CenterCanton, OHMOB1/30/2023100.0 %3,669 27,920 
Northeastern Eye InstituteScranton, PAMOB2/23/2023100.0 %1,957 22,743 
Northeastern Eye InstituteScranton, PAMOB2/23/2023100.0 %2,207 15,768 
Emory Southern OrthopedicsLaGrange, GAMOB3/6/2023100.0 %6,469 31,473 
Emory Southern OrthopedicsLaGrange, GAMOB3/6/2023100.0 %249 2,972 
LandLakeland, FLLand4/3/2023n/a838 — 
UPMC Hermitage RoadHermitage, PAMOB5/4/2023100.0 %4,218 25,982 
JDH Professional BuildingSan Antonio, TXMOB5/22/2023100.0 %2,772 12,376 
Clinton Towers MOBClinton, MDMOB6/21/202394.9 %7,850 37,344 
Eye Health of AmericaFt. Myers, FLMOB7/28/2023100.0 %10,646 43,322 
Eye Health of AmericaFt. Myers, FLMOB7/28/2023100.0 %582 3,200 
Eye Health of AmericaImmokalee, FLMOB7/28/2023100.0 %847 6,757 
Everest Rehabilitation HospitalEl Paso, TXIRF7/31/2023100.0 %23,500 37,992 
The Heart & Vascular CenterBeaver, PAMOB8/24/2023100.0 %3,330 15,878 
Westlake Medical OfficeWestlake, OHMOB8/25/2023100.0 %2,425 14,100 
Nesbitt PlaceNewcastle, PAMOB9/15/202398.3 %10,375 56,003 
Congress Medical Building 350Crystal Lake, ILMOB10/6/2023100.0 %4,049 17,543 
Congress Medical Building 390Crystal Lake, ILMOB10/6/202395.0 %3,044 30,718 
99.2 %$97,845 463,001 
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Community Healthcare Trust
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4Q 2023 | Supplemental Information
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PORTFOLIO DIVERSIFICATION
chart-949ef9654945428daaea.jpg
Property Type Annualized Rent (%)
Medical Office Building (MOB)37.0 %
Inpatient Rehabilitation Facilities (IRF)18.8 %
Acute Inpatient Behavioral (AIB)14.2 %
Specialty Centers (SC)11.2 %
Physician Clinics (PC)7.8 %
Behavioral Specialty Facilities (BSF)5.1 %
Surgical Centers and Hospitals (SCH)4.3 %
Long-term Acute Care Hospitals (LTACH)1.6 %
Total100.0 %

chart-23b048c1c9fe4a1ebe2a.jpg
StateAnnualized
Rent (%)
Texas (TX)16.5 %
Illinois (IL)11.9 %
Ohio (OH)11.2 %
Florida (FL)8.0 %
Pennsylvania (PA)6.2 %
All Others (less than 4%)46.2 %
Total100.0 %



chart-9e92339b82834417a41a.jpg
TenantAnnualized
Rent (%)
Lifepoint Health11.9 %
US HealthVest8.2 %
All Others (less than 4%)79.9 %
Total100.0 %
            

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4Q 2023 | Supplemental Information
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LEASE EXPIRATIONS
chart-86feacda3bef44eeb30a.jpg
Total Leased Sq. Ft.Annualized Rent
YearNumber of
Leases Expiring
Amount
(thousands)
Percent (%)
Amount ($)
(thousands)
Percent (%)
202469 316 8.3 %$6,667 6.9 %
202554 338 8.8 %8,910 9.2 %
202665 541 14.2 %11,029 11.4 %
202750 304 8.0 %6,476 6.7 %
202858 327 8.5 %5,938 6.1 %
202925 272 7.1 %6,489 6.7 %
203016 115 3.0 %3,219 3.3 %
203123 347 9.1 %9,331 9.6 %
203211 133 3.5 %1,877 1.9 %
203312 75 2.0 %1,503 1.5 %
Thereafter38 1,032 27.0 %35,059 36.2 %
Month-to-Month10 20 0.5 %449 0.5 %
Totals431 3,820 100.0 %$96,947 100.0 %
Total portfolio was approximately 91.1% leased in the aggregate, excluding real estate assets held for sale, at December 31, 2023 with lease expirations ranging from 2024 through 2039.

Community Healthcare Trust
Page | 17
4Q 2023 | Supplemental Information
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PROPERTY LOCATIONS
                                                                            
Approximately 47% of our property revenues are in MSAs with populations over 1,000,000 and approximately 90% are in MSAs with populations over 100,000.
Property NameProperty TypeArea% of Square Feet Annualized
Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Lancaster MOBMOB10,646 0.25 %$335.6 0.22 %12,872,322 Los Angeles-Long Beach-Anaheim, CA2
Congress Medical Building 350MOB17,543 0.41 %$404.5 0.42 %9,441,957 Chicago-Naperville-Elgin, IL-IN-WI3
Congress Medical Building 390MOB30,855 0.73 %$447.9 0.46 %9,441,957 Chicago-Naperville-Elgin, IL-IN-WI3
Future Diagnostics GroupSC8,876 0.21 %$390.9 0.40 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
Gurnee Medical Office BuildingMOB22,968 0.54 %$239.6 0.25 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
Joliet Oncology-Hematology AssociatesPC7,905 0.19 %$375.6 0.39 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
Morris Cancer CenterMOB18,470 0.43 %$623.4 0.64 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
Center for Reconstructive Surgery - Oak LawnMOB33,356 0.78 %$375.1 0.39 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
PresencePC14,863 0.35 %$310.8 0.32 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
Presence Regional Cancer CenterSC44,888 1.06 %$1,453.1 1.50 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
Skin MDPC13,565 0.32 %$512.2 0.53 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
Chicago Behavioral HospitalAIB85,000 2.00 %$2,182.5 2.25 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
US HealthVest - LakeAIB83,658 1.97 %$2,964.5 3.06 %9,618,502 Chicago-Naperville-Elgin, IL-IN-WI3
Texas Rehabilitation Hospital of Fort Worth, LLCIRF39,761 0.94 %$1,988.2 2.05 %7,637,387 Dallas-Fort Worth-Arlington, TX4
Bayside Medical CenterMOB50,593 1.19 %$1,067.0 1.10 %7,122,240 Houston-The Woodlands-Sugar Land, TX5
Gessner Road MOBMOB14,360 0.34 %$308.1 0.32 %7,122,240 Houston-The Woodlands-Sugar Land, TX5
Clear Lake Institute for RehabilitationIRF55,646 1.31 %$2,913.2 3.01 %7,122,240 Houston-The Woodlands-Sugar Land, TX5
Northwest Surgery CenterSCH11,200 0.26 %$— — %7,122,240 Houston-The Woodlands-Sugar Land, TX5
Clinton Towers MOBMOB37,344 0.88 %$951.0 0.98 %6,385,162 Washington-Arlington-Alexandria, DC-VA-MD-WV6
2301 Research BoulevardMOB93,079 2.19 %$2,176.4 2.25 %6,385,162 Washington-Arlington-Alexandria, DC-VA-MD-WV6
Haddon Hill Professional CenterMOB25,118 0.59 %$277.0 0.29 %6,245,051 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD7
Hopebridge - WestlakeBSF15,057 0.35 %$232.7 0.24 %6,245,051 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD7
Continuum Wellness CenterMOB8,227 0.19 %$159.9 0.17 %4,845,832 Phoenix-Mesa-Chandler, AZ11
Desert Endoscopy CenterSCH11,722 0.28 %$— — %4,845,832 Phoenix-Mesa-Chandler, AZ11
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4Q 2023 | Supplemental Information
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Property NameProperty TypeArea% of Square Feet Annualized
Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Mountain View Surgery CenterSCH14,046 0.33 %$— — %4,845,832 Phoenix-Mesa-Chandler, AZ11
Associated Surgical Center of DearbornSCH12,400 0.29 %$353.4 0.36 %4,392,041 Detroit-Warren-Dearborn, MI14
Berry Surgical CenterSCH27,217 0.64 %$615.4 0.64 %4,392,041 Detroit-Warren-Dearborn, MI14
Smokey Point Behavioral HospitalAIB70,100 1.65 %$2,772.8 2.86 %4,018,762 Seattle-Tacoma-Bellevue, WA15
Sanderling DialysisSC11,300 0.27 %$414.6 0.43 %3,298,634 San Diego-Chula Vista-Carlsbad, CA17
Bay Area Physicians Surgery CenterMOB17,943 0.42 %$— — %3,175,275 Tampa-St. Petersburg-Clearwater, FL18
Liberty DialysisSC8,450 0.20 %$275.9 0.28 %2,963,821 Denver-Aurora-Lakewood, CO19
Waters Edge MedicalMOB23,388 0.55 %$389.1 0.40 %2,844,510 Baltimore-Columbia-Towson, MD20
Righttime Medical CareSC6,236 0.15 %$330.9 0.34 %2,844,510 Baltimore-Columbia-Towson, MD20
Eyecare PartnersPC6,487 0.15 %$— — %2,820,253 St. Louis, MO-IL21
Eyecare PartnersPC5,560 0.13 %$52.8 0.05 %2,820,253 St. Louis, MO-IL21
Eyecare PartnersSCH16,608 0.39 %$310.6 0.32 %2,820,253 St. Louis, MO-IL21
Eyecare PartnersPC6,311 0.15 %$49.5 0.05 %2,820,253 St. Louis, MO-IL21
Bassin Center For Plastic-Surgery-VillagesPC2,894 0.07 %$170.2 0.18 %2,673,376 Orlando-Kissimmee-Sanford, FL22
Bassin Center For Plastic Surgery-OrlandoPC2,420 0.06 %$142.3 0.15 %2,673,376 Orlando-Kissimmee-Sanford, FL22
Kissimmee Physicians ClinicPC4,902 0.12 %$110.3 0.11 %2,673,376 Orlando-Kissimmee-Sanford, FL22
Orthopaedic Associates of OsceolaPC15,167 0.36 %$347.2 0.36 %2,673,376 Orlando-Kissimmee-Sanford, FL22
Medical Village at WintergardenMOB21,532 0.51 %$606.9 0.63 %2,673,376 Orlando-Kissimmee-Sanford, FL22
Baptist HealthPC13,500 0.32 %$403.1 0.42 %2,558,143 San Antonio-New Braunfels, TX24
San Antonio Head & Neck Surgical AssociatesPC6,500 0.15 %$187.9 0.19 %2,558,143 San Antonio-New Braunfels, TX24
JDH Professional BuildingMOB12,376 0.29 %$261.9 0.27 %2,558,143 San Antonio-New Braunfels, TX24
The Heart & Vascular CenterMOB15,878 0.37 %$307.8 0.32 %2,370,930 Pittsburgh, PA27
Butler Medical CenterMOB10,116 0.24 %$273.3 0.28 %2,370,930 Pittsburgh, PA27
Forefront Dermatology BuildingMOB15,650 0.37 %$342.0 0.35 %2,370,930 Pittsburgh, PA27
Greentree Primary CareMOB34,077 0.80 %$888.0 0.92 %2,370,930 Pittsburgh, PA27
Vascular Access Centers of Southern NevadaSC4,800 0.11 %$97.9 0.10 %2,265,461 Las Vegas-Henderson-Paradise, NV29
Assurance Health SystemBSF14,381 0.34 %$555.4 0.57 %2,256,884 Cincinnati, OH-KY-IN30
Cavalier Medical & Dialysis CenterMOB17,614 0.41 %$249.6 0.23 %2,256,884 Cincinnati, OH-KY-IN30
51 Cavalier BlvdMOB18,016 0.42 %$182.8 0.19 %2,256,884 Cincinnati, OH-KY-IN30
Anderson Ferry PlazaMOB43,671 1.03 %$497.6 0.51 %2,256,884 Cincinnati, OH-KY-IN30
Everest Rehabilitation HospitalIRF37,720 0.89 %$2,444.9 2.52 %2,256,884 Cincinnati, OH-KY-IN30
Community Healthcare Trust
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4Q 2023 | Supplemental Information
image4.jpg
Property NameProperty TypeArea% of Square Feet Annualized
Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Davita Commercial WaySC4,980 0.12 %$— — %2,256,884 Cincinnati, OH-KY-IN30
Fresenius Florence Dialysis CenterMOB17,845 0.42 %$254.5 0.26 %2,256,884 Cincinnati, OH-KY-IN30
Prairie Star Medical Facility IMOB24,724 0.58 %$619.7 0.64 %2,192,035 Kansas City, MO-KS31
Prairie Star Medical Facility IIMOB24,840 0.58 %$154.1 0.16 %2,192,035 Kansas City, MO-KS31
Ravines EdgeMOB16,751 0.39 %$263.9 0.27 %2,138,926 Columbus, OH32
Court Street Surgery CenterSCH7,787 0.18 %$80.2 0.08 %2,138,926 Columbus, OH32
Hopebridge - ColumbusBSF13,969 0.33 %$173.0 0.18 %2,138,926 Columbus, OH32
Sedalia Medical CenterMOB20,043 0.47 %$274.1 0.28 %2,138,926 Columbus, OH32
Assurance Health, LLCBSF10,200 0.24 %$372.9 0.38 %2,111,040 Indianapolis-Carmel-Anderson, IN33
Assurance Health SystemBSF13,722 0.32 %$510.6 0.53 %2,111,040 Indianapolis-Carmel-Anderson, IN33
Kindred Hospital Indianapolis NorthLTACH37,270 0.88 %$1,566.9 1.62 %2,111,040 Indianapolis-Carmel-Anderson, IN33
Brook Park Medical BuildingMOB18,444 0.43 %$399.9 0.41 %2,088,251 Cleveland-Elyria, OH34
Smith RoadMOB16,802 0.40 %$310.3 0.32 %2,088,251 Cleveland-Elyria, OH34
Assurance - HudsonBSF13,290 0.31 %$554.2 0.57 %2,088,251 Cleveland-Elyria, OH34
Rockside Medical CenterMOB55,316 1.30 %$1,017.1 1.05 %2,088,251 Cleveland-Elyria, OH34
Virginia Orthopaedic & Spine SpecialistsPC8,445 0.20 %$153.1 0.16 %1,799,674 Virginia Beach-Norfolk-Newport News, VA-NC37
Genesis Care - WarwickSC10,236 0.24 %$380.8 0.39 %1,676,579 Providence-Warwick, RI-MA38
South County HospitalPC13,268 0.31 %$311.3 0.32 %1,676,579 Providence-Warwick, RI-MA38
Ortho Rhode Island - WarwickPC7,340 0.17 %$217.0 0.22 %1,676,579 Providence-Warwick, RI-MA38
Mercy Rehabilitation HospitalIRF39,637 0.93 %$1,988.2 2.05 %1,425,695 Oklahoma City, OK41
Memphis CenterMOB11,669 0.27 %$232.3 0.24 %1,337,779 Memphis, TN-MS-AR43
Sanderling DialysisSC10,133 0.24 %$552.4 0.57 %1,337,779 Memphis, TN-MS-AR43
GlastonburyMOB49,593 1.17 %$539.5 0.56 %1,213,531 Hartford-East Hartford-Middletown, CT48
Sterling Medical CenterMOB28,685 0.67 %$279.3 0.29 %1,166,902 Buffalo-Cheektowaga, NY49
Gardendale MOBMOB12,956 0.30 %$317.4 0.33 %1,115,289 Birmingham-Hoover, AL50
Genesis Care - SouthbridgeSC20,046 0.47 %$861.4 0.89 %978,529 Worcester, MA-CT57
Worcester BehavioralAIB81,972 1.93 %$2,690.9 2.78 %978,529 Worcester, MA-CT57
Los Alamos Professional PlazaMOB43,395 1.02 %$556.8 0.57 %870,781 McAllen-Edinburg-Mission, TX65
Everest Rehabilitation HospitalIRF38,000 0.89 %$2,138.5 2.21 %868,859 El Paso, TX67
Cardiology Associates of Greater WaterburyPC16,793 0.39 %$323.3 0.33 %864,835 New Haven-Milford, CT68
Columbia Gastroenterology Surgery CenterMOB17,016 0.40 %$344.1 0.36 %829,470 Columbia, SC72
Community Healthcare Trust
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4Q 2023 | Supplemental Information
image4.jpg
Property NameProperty TypeArea% of Square Feet Annualized
Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Davita Turner RoadSC18,125 0.43 %$351.8 0.36 %814,049 Dayton-Kettering, OH73
Davita Springboro PikeSC10,510 0.25 %$182.6 0.19 %814,049 Dayton-Kettering, OH73
Davita Business Center CourtSC12,988 0.31 %$228.4 0.24 %814,049 Dayton-Kettering, OH73
Genesis Care - Bonita SpringsSC4,445 0.10 %$279.7 0.29 %760,822 Cape Coral-Fort Myers, FL78
Wildwood Hammock RPET FacilitySC10,832 0.26 %$429.1 0.45 %760,822 Cape Coral-Fort Myers, FL78
Cape Coral Suite 3SC12,130 0.29 %$450.4 0.46 %760,822 Cape Coral-Fort Myers, FL78
Cape Coral Suite 3AMOB2,023 0.05 %$39.0 0.04 %760,822 Cape Coral-Fort Myers, FL78
Cape Coral Suite 5 & 6MOB6,379 0.15 %$98.1 0.10 %760,822 Cape Coral-Fort Myers, FL78
Colonial Blvd OfficeSC46,356 1.09 %$— — %760,822 Cape Coral-Fort Myers, FL78
Corporate Office 3660MOB22,104 0.52 %$620.5 0.64 %760,822 Cape Coral-Fort Myers, FL78
Corporate Annex BuildingMOB16,000 0.38 %$310.1 0.32 %760,822 Cape Coral-Fort Myers, FL78
Wildwood Hammock - Diagnostic ImagingSC9,376 0.22 %$405.6 0.42 %760,822 Cape Coral-Fort Myers, FL78
Wildwood Hammock - NorthlandMOB1,201 0.03 %$13.2 0.01 %760,822 Cape Coral-Fort Myers, FL78
Eye Health of America 4101MOB43,322 1.02 %$1,004.4 1.04 %760,822 Cape Coral-Fort Myers, FL78
Eye Health of America 2665MOB3,200 0.08 %$54.7 0.06 %760,822 Cape Coral-Fort Myers, FL78
Eye Health of America 1320MOB6,757 0.16 %$79.7 0.08 %760,822 Cape Coral-Fort Myers, FL78
Parkway Professional PlazaMOB41,756 0.98 %$578.0 0.60 %725,046 Lakeland-Winter Haven, FL81
Mercy One Physicians ClinicPC17,318 0.41 %$390.4 0.40 %709,466 Des Moines-West Des Moines, IA82
Novus ClinicSCH14,315 0.34 %$300.7 0.31 %702,219 Akron, Oh83
UH Walden Health CenterPC11,000 0.26 %$— — %702,219 Akron, Oh83
UW Health Clinic- PortagePC14,000 0.33 %$325.1 0.34 %680,796 Madison, WI87
Daytona Medical OfficeMOB20,193 0.47 %$372.9 0.38 %668,921 Deltona-Daytona Beach-Ormond Beach, FL90
Debary Professional PlazaMOB21,874 0.51 %$274.1 0.28 %668,921 Deltona-Daytona Beach-Ormond Beach, FL90
Cypress Medical CenterMOB39,746 0.93 %$374.6 0.39 %647,610 Wichita, KS93
Family Medicine EastPC16,581 0.39 %$331.6 0.34 %647,610 Wichita, KS93
Grene Vision CenterPC18,681 0.44 %$— 0.32 %647,610 Wichita, KS93
Perrysburg Medical Arts BuildingMOB25,930 0.61 %$443.4 0.46 %646,604 Toledo, OH94
St. Vincent Mercy Medical Center, Inc.PC23,368 0.55 %$319.9 0.33 %646,604 Toledo, OH94
Assurance - ToledoBSF13,290 0.31 %$520.8 0.54 %646,604 Toledo, OH94
Granite CircleMOB17,164 0.40 %$236.0 0.24 %646,604 Toledo, OH94
Community Healthcare Trust
Page | 21
4Q 2023 | Supplemental Information
image4.jpg
Property NameProperty TypeArea% of Square Feet Annualized
Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Bassin Center For Plastic Surgery-MelbournePC5,228 0.12 %$307.4 0.32 %606,612 Palm Bay-Melbourne-Titusville, FL96
Penn State Health - Camp HillSC8,400 0.20 %$178.2 0.18 %591,712 Harrisburg-Carlisle, PA98
Penn State Health - HarrisburgSC10,000 0.24 %$195.0 0.20 %591,712 Harrisburg-Carlisle, PA98
NEIMOB22,743 0.53 %$409.4 0.42 %567,559 Scranton--Wilkes-Barre, PA100
NEIMOB15,768 0.37 %$304.9 0.31 %567,559 Scranton--Wilkes-Barre, PA100
Eynon Surgery CenterSCH6,500 0.15 %$183.8 0.19 %567,998 Scranton--Wilkes-Barre, PA100
Riverview Medical CenterMOB26,199 0.62 %$472.8 0.45 %567,998 Scranton--Wilkes-Barre, PA100
Grandview PlazaMOB20,000 0.47 %$403.1 0.32 %552,984 Lancaster, PA102
Pinnacle HealthPC10,753 0.25 %$246.0 0.25 %552,984 Lancaster, PA102
Manteca Medical Group BuildingPC10,564 0.25 %$304.3 0.31 %552,878 Modesto, CA103
Everest Rehabilitation HospitalIRF38,817 0.91 %$2,228.7 2.30 %546,725 Fayetteville-Springdale-Rogers, AR105
UPMC Specialty CareMOB25,982 0.61 %$453.4 0.47 %541,243 Youngstown-Warren-Boardman, OH-PA107
Treasure Coast Medical PavilionMOB55,844 1.31 %$864.6 0.89 %487,657 Port St. Lucie, FL115
AMG Specialty Hospital - LafayetteMOB29,062 0.68 %$— — %478,384 Lafayette, LA116
Everest Rehabilitation HospitalIRF38,817 0.91 %$2,280.3 2.35 %475,367 Killeen-Temple, TX118
Biltmore Medical OfficeSC10,850 0.26 %$— — %469,015 Asheville, NC120
Genesis Care - WeavervilleSC10,696 0.25 %$443.2 0.46 %469,015 Asheville, NC120
Martin Foot & Ankle ClinicPC27,100 0.64 %$414.9 0.43 %456,438 York-Hanover, PA121
Affinity Health CenterMOB47,366 1.11 %$506.7 0.52 %401,574 Canton-Massillon, OH137
Hills & Dales Professional CenterMOB27,920 0.66 %$352.8 0.36 %401,574 Canton-Massillon, OH137
Prattville Town Center Medical Office BldgMOB13,319 0.31 %$379.7 0.39 %386,047 Montgomery, AL142
Wellmont Bristol Urgent CareSC4,548 0.11 %$76.2 0.08 %307,614 Kingsport-Bristol, TN-VA165
Bristol Pediatric AssociatesMOB10,804 0.25 %$183.5 0.19 %307,614 Kingsport-Bristol, TN-VA165
Bluewater Orthopedics CenterMOB10,255 0.24 %$218.2 0.23 %286,973 Crestview-Fort Walton Beach-Destin, FL171
Everest Rehabilitation HospitalIRF38,817 0.91 %$2,280.3 2.35 %286,184 Longview, TX172
Londonderry CentreMOB21,115 0.50 %$341.9 0.35 %277,547 Waco, TX176
Westlake Medical OfficeMOB14,100 0.33 %$248.2 0.26 %277,547 Waco, TX176
Meridian Behavioral Health SystemsAIB132,430 3.11 %$3,136.8 3.24 %258,859 Charleston, WV190
Gulf Coast Cancer Centers-FoleySC6,146 0.14 %$169.6 0.18 %231,767 Daphne-Fairhope-Foley, AL200
Gulf Coast Cancer Centers- Gulf ShoresSC6,398 0.15 %$131.8 0.14 %231,767 Daphne-Fairhope-Foley, AL200
Monroe Surgical HospitalSCH58,121 1.37 %$2,354.5 2.43 %207,104 Monroe, LA219
Community Healthcare Trust
Page | 22
4Q 2023 | Supplemental Information
image4.jpg
Property NameProperty TypeArea% of Square Feet Annualized
Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Fresenius Ft. ValleySC4,920 0.12 %$83.6 0.09 %191,614 Warner Robins, GA228
Tuscola Professional BuildingMOB25,500 0.60 %$610.2 0.63 %190,124 Saginaw, MI229
Genesis Care - ReddingSC12,206 0.29 %$587.5 0.61 %182,155 Redding, CA233
KedplasmaSC12,870 0.30 %$272.1 0.28 %171,415 Burlington, NC251
Decatur Morgan Hospital Medical Office BuildingMOB35,933 0.85 %$583.0 0.60 %156,494 Decatur, AL268
Provena Medical CenterMOB54,894 1.29 %$756.8 0.72 %107,502 Kankakee, IL346
Parkside Family & Davita ClinicsMOB15,637 0.37 %$216.8 0.22 %98,331 Victoria, TX361
Cub Lake SquareMOB49,059 1.15 %$1,116.3 1.15 %108,650 Show Low, AZn/a
Cub Lake Square - Building BMOB— — %$— — %108,650 Show Low, AZn/a
Cub Lake Square - Building CMOB— — %$— — %108,650 Show Low, AZn/a
Emory HealthcareMOB61,301 1.44 %$871.7 0.90 %104,279 LaGrange, GA-ALn/a
Emory Southern OrthopedicsMOB31,473 0.74 %$— — %104,279 LaGrange, GA-ALn/a
Emory Southern OrthopedicsMOB2,972 0.07 %$60.3 0.06 %104,279 LaGrange, GA-ALn/a
Emory HealthcareMOB5,600 0.13 %$79.6 0.08 %104,279 LaGrange, GA-ALn/a
Nesbitt PlaceMOB56,003 1.32 %$1,094.7 1.13 %84,849 New Castle, PAn/a
Marion Medical PlazaMOB27,246 0.64 %$346.5 0.36 %64,642 Marion, OHn/a
Davita DialysisMOB12,545 0.30 %$457.8 0.47 %54,738 Pahrump, NVn/a
Davita Etowah Dialysis CenterSC4,720 0.11 %$67.4 0.07 %54,719 Athens, TNn/a
Fresenius Dialysis CenterMOB17,746 0.42 %$355.7 0.37 %54,636 Corsicana, TXn/a
Fresenius Gallipolis Dialysis CenterSC15,110 0.36 %$157.9 0.16 %54,068 Point Pleasant, WV-OHn/a
Arkansas Valley Surgery CenterMOB10,853 0.26 %$271.0 0.28 %49,621 Cañon City, COn/a
Sanford West Behavioral FacilityBSF96,886 2.28 %$1,338.5 1.38 %45,205 Grand Rapids, MNn/a
Wellmont Norton Urgent CareSC4,843 0.11 %$57.9 0.06 %39,030 Big Stone Gap, VAn/a
Wellmont Associates ComplexSC32,757 0.77 %$359.1 0.37 %39,030 Big Stone Gap, VAn/a
Fremont Medical Office Building & Surgery CtrMOB13,050 0.31 %$328.2 0.34 %36,997 Fremont, NEn/a
Eyecare PartnersPC8,421 0.20 %$134.3 0.14 %36,914 Centralia, ILn/a
Gulf Coast Cancer Centers-BrewtonSC3,971 0.09 %$109.6 0.11 %36,666 Atmore, ALn/a
Baylor Scott & White ClinicPC37,354 0.88 %$490.7 0.51 %36,159 Brenham, TXn/a
Ottumwa Medical ClinicMOB68,895 1.62 %$755.8 0.78 %35,043 Ottumwa, IAn/a
Ottumwa Medical ClinicMOB6,850 0.16 %$92.5 0.10 %35,043 Ottumwa, IAn/a
Sanderling Dialysis CenterSC4,186 0.10 %$295.1 0.30 %27,082 Crescent City, CAn/a
Community Healthcare Trust
Page | 23
4Q 2023 | Supplemental Information
image4.jpg
Property NameProperty TypeArea% of Square Feet Annualized
Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Wellmont Lebanon Urgent CareSC8,369 0.20 %$104.6 0.11 %County: 26,586Rural - No CBSAn/a
Rettig Family HealthcarePC12,000 0.28 %$180.0 0.19 %County: 23,437Rural - No CBSAn/a
North Mississippi Health ServicesMOB3,378 0.08 %$18.1 0.02 %County: 35,252Rural - No CBSAn/a
Sanderling Dialysis CenterSC5,217 0.12 %$278.9 0.29 %County: 13,279Rural - No CBSAn/a
Genesis Care - PrincetonSC7,236 0.17 %$198.5 0.20 %County: 58,758Rural - No CBSAn/a
North Mississippi Health ServicesMOB17,629 0.41 %$94.3 0.10 % County: 35,252Rural - No CBSAn/a
North Mississippi Health ServicesMOB27,743 0.65 %$148.4 0.15 %County: 35,252Rural - No CBSAn/a
North Mississippi Health ServicesMOB18,074 0.43 %$96.7 0.10 %County: 35,252Rural - No CBSAn/a
North Mississippi Health ServicesMOB9,890 0.23 %$52.9 0.05 %County: 35,252Rural - No CBSAn/a
Batesville Regional Medical CenterMOB9,263 0.22 %$49.5 0.05 %County: 34,192Rural - No CBSAn/a
Tri Lakes BehavioralBSF58,400 1.37 %$696.0 0.72 %County: 34,192Rural - No CBSAn/a
Dahlonega Medical MallMOB22,804 0.54 %$283.8 0.29 %County: 33,610Rural - No CBSAn/a
Lexington Carilion ClinicPC15,820 0.37 %$376.7 0.39 %County: 22,573Rural - No CBSAn/a
Genesis Care - AndalusiaSC10,373 0.24 %$394.2 0.41 %County: 37,049Rural - No CBSAn/a
Russellville Medical PlazaMOB29,129 0.69 %$163.5 0.17 %County: 31,362Rural - No CBSAn/a
Community Healthcare Trust
Page | 24
4Q 2023 | Supplemental Information
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REPORTING DEFINITIONS
Acute Inpatient Behavioral Facilities (AIB)
Behavioral inpatient acute care facilities are healthcare facilities that provide a range of clinical services for mental health and/or substance abuse diagnoses on an inpatient basis. Behavioral health services provided may include assessment, treatment, individual medical evaluation and management (including medication management), individual and group therapy, behavioral health counseling, family therapy and psychological testing for recipients of all ages.

AFFO, Adjusted for Acquisitions
AFFO, Adjusted for Acquisitions, adjusts AFFO to show the impact of the real estate properties acquired in the period as if they had been acquired on the first day of the reporting period, using the expected returns and in-place leases at the time of the acquisition. The Company believes that AFFO, Adjusted for Acquisitions, is useful because it allows investors, analysts and Company management visibility into the impact on the Company's results of operations in future reporting periods resulting from its current period acquisitions.

Annualized Rent
Base rent for the current month multiplied by 12.

Behavioral Specialty Facilities (BSF)
Behavioral specialty facilities are healthcare facilities that provide a range of clinical services for mental health and/or substance abuse diagnoses. Behavioral health services provided may include assessment, treatment, individual medical evaluation and management (including medication management), individual and group therapy, behavioral health counseling, family therapy and psychological testing for recipients of all ages.

EBITDAre and Adjusted EBITDAre
The Company uses the National Association of Real Estate Investment Trusts, Inc. ("NAREIT") definition of EBITDAre which is net income plus interest expense, income tax expense, and depreciation and amortization, plus losses or minus gains on the disposition of depreciable property, including losses/gains on change of control, plus impairment write-downs of depreciable property and of investments in unconsolidated affiliates caused by a decrease in value of depreciable property in the affiliate, plus or minus adjustments to reflect the entity's share of EBITDAre of unconsolidated affiliates and consolidated affiliates with non-controlling interest. The Company also presents Adjusted EBITDAre which is EBITDAre before non-cash stock-based compensation amortization.

We consider EBITDAre and Adjusted EBITDAre important measures because they provide additional information to allow management, investors, and our current and potential creditors to evaluate and compare our core operating results and our ability to service debt.

Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO)
Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. However, since real estate values have historically risen or fallen with market conditions, many industry investors deem presentations of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. For that reason, the Company considers funds from operations ("FFO") and adjusted funds from operations ("AFFO") to be appropriate measures of operating performance of an equity real estate investment trust ("REIT"). In particular, the Company believes that AFFO is useful because it allows investors, analysts and Company management to compare the Company's operating performance to the operating performance of other real estate companies and between periods on a consistent basis without having to account for differences caused by unanticipated items and other events.
Community Healthcare Trust
Page | 25
4Q 2023 | Supplemental Information
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REPORTING DEFINITIONS (continued)
The Company uses the NAREIT definition of FFO. FFO is an operating performance measure adopted by NAREIT. NAREIT defines FFO as the most commonly accepted and reported measure of a REIT’s operating performance equal to net income (calculated in accordance with GAAP), excluding gains or losses from the sale of certain real estate assets, gains and losses from change in control, impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, plus depreciation and amortization related to real estate properties, and after adjustments for unconsolidated partnerships and joint ventures. NAREIT also provides REITs with an option to exclude gains, losses and impairments of assets that are incidental to the main business of the REIT from the calculation of FFO. The Company has included AFFO which it has defined as FFO, excluding certain expenses related to closing costs of properties acquired accounted for as business combinations and mortgages funded, excluding straight-line rent and the amortization of stock-based compensation, and including or excluding other non-cash items from time to time. AFFO presented herein may not be comparable to similar measures presented by other real estate companies due to the fact that not all real estate companies use the same definition.

FFO and AFFO should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of the Company's financial performance or as alternatives to cash flow from operating activities
(determined in accordance with GAAP) as measures of the Company’s liquidity, nor are they necessarily indicative of sufficient cash flow to fund all of the Company’s needs. The Company believes that in order to facilitate a clear understanding of the consolidated historical operating results of the Company, FFO and AFFO should be examined in conjunction with net income as presented elsewhere herein.

Inpatient Rehabilitation Facilities (IRF)
Inpatient rehabilitation facilities are free standing rehabilitation hospitals, or may be units within an acute care hospital, that provide intensive rehabilitation programs to patients.

Long-Term Acute Care Hospitals (LTACH)
Long-term acute care hospitals provide inpatient services for patients with complex medical conditions who require more sensitive care, monitoring or emergency support than that available in most skilled nursing facilities.

Medical Office Building (MOB)
Medical office buildings are buildings occupied by healthcare providers and may be located near hospitals or other facilities where healthcare services are rendered or in close proximity to a population base. Medical office buildings can be leased to physicians, physician practice groups, hospitals, healthcare systems or other healthcare providers.

Metropolitan Statistical Area (MSA or MISA)
MSAs or MISAs are geographical regions with relatively higher population densities at their core and have close economic ties throughout their area. MSAs and MISAs are defined by the Office of Management and Budget.

Net Operating Income (NOI)
NOI is a non-GAAP financial measure that is defined as net income or loss, computed in accordance with GAAP, generated from our total portfolio of properties and other investments before general and administrative expenses, depreciation and amortization expense, gains or loss on the sale of real estate properties or other investments, interest expense, and income tax expense. We believe that NOI provides an accurate measure of operating performance of our operating assets because NOI excludes certain items that are not associated with management of the properties. CHCT's use of the term NOI may not be comparable to that of other real estate companies as they may have different methodologies for computing NOI.


Community Healthcare Trust
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4Q 2023 | Supplemental Information
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REPORTING DEFINITIONS (continued)
Physician Clinics (PC)
Physician clinics are freestanding healthcare facilities that are primarily devoted to the care of ambulatory patients, can be privately operated or publicly managed and funded, and typically provide primary healthcare needs of populations in local communities utilizing physicians and other healthcare providers.

Specialty Centers (SC)
Specialty centers include various types of centers which may, among others, include oncology centers, dialysis centers, urgent care centers, and blood plasma centers.

Surgical Centers and Hospitals (SCH)
Surgical centers and hospitals may include outpatient surgery centers where surgical procedures not requiring an overnight hospital stay are performed; as well as specialty hospitals that focus on providing care for certain conditions and performing certain procedures, such as cardiovascular and orthopedic surgery.

Total Capitalization
Debt plus stockholders' equity plus accumulated depreciation.
Community Healthcare Trust
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4Q 2023 | Supplemental Information
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DISCLAIMERS

FORWARD-LOOKING STATEMENTS
Certain statements made in this supplemental information package constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). In particular, statements pertaining to our capital resources, portfolio performance and results of operations contain forward-looking statements. Likewise, our statements regarding anticipated market conditions are forward-looking statements. You can identify forward-looking statements by the use of forward-looking terminology such as "believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” "outlook," "continue," "projects," “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans, expectations, or intentions. 
 
Forward-looking statements reflect the views of our management regarding current expectations and projections about future events and are based on currently available information. These forward-looking statements are not guarantees of future performance and involve numerous risks and uncertainties and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data, or methods which may be incorrect or imprecise and we may not be able to realize them. 
 
While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. We disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes after the date of this supplemental information package, except as required by applicable law. You should not place undue reliance on any forward-looking statements that are based on information currently available to us or the third parties making the forward-looking statements. For a discussion of factors that could impact our future results, performance or transactions, see Part I, Item 1A (Risk Factors) of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and the Company’s other filings with the Securities and Exchange Commission from time to time.  
 

NON-GAAP FINANCIAL MEASURES 
This presentation includes EBITDAre, Adjusted EBITDAre, Adjusted EBITDAre Annualized, Net Operating Income (or NOI), Funds From Operations (or FFO), Adjusted Funds From Operations (or AFFO), and AFFO, Adjusted for Acquisitions, which are non-GAAP financial measures. For purposes of the Securities and Exchange Commission’s (“SEC”) Regulation G, a non-GAAP financial measure is a numerical measure of a company’s historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable financial measure calculated and presented in accordance with GAAP in the statements of operations, balance sheets or statements of cash flows (or equivalent statements) of the company, or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable financial measure so calculated and presented. As used in this presentation, GAAP refers to generally accepted accounting principles in the United States of America. Our use of the non-GAAP financial measure terms herein may not be comparable to that of other real estate investment trusts. Pursuant to the requirements of Regulation G, we have provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures. 

Community Healthcare Trust
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4Q 2023 | Supplemental Information
v3.24.0.1
Cover Page
Feb. 13, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 13, 2024
Entity Registrant Name COMMUNITY HEALTHCARE TRUST INC
Entity Incorporation, State or Country Code MD
Entity File Number 001-37401
Entity Tax Identification Number 46-5212033
Entity Address, Address Line One 3326 Aspen Grove Drive
Entity Address, Address Line Two Suite 150
Entity Address, City or Town Franklin
Entity Address, State or Province TN
Entity Address, Postal Zip Code 37067
City Area Code 615
Local Phone Number 771-3052
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Title of 12(b) Security Common stock, $0.01 par value per share
Trading Symbol CHCT
Security Exchange Name NYSE
Amendment Flag false
Entity Central Index Key 0001631569
Commmunity Healthcare (NYSE:CHCT)
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