Lake County Gazette

Community Healthcare Trust Incorporated has announced its operating results for the three months ended March 31, 2024.

The company reported a net income of $6.3 million for the first quarter. It also declared a dividend reinvestment plan and direct stock purchase plan, allowing shareholders to reinvest dividends or make optional cash purchases of shares at a discounted price.

During the quarter, Community Healthcare Trust acquired three properties for an aggregate purchase price of approximately $34.1 million. These acquisitions are expected to yield an initial weighted average cash yield of approximately 7.5%.

Additionally, the company issued $500 million in senior unsecured notes due in 2031 with an interest rate of 3.2%. The proceeds from this offering will be used primarily to repay existing indebtedness under its revolving credit facility and for general corporate purposes.

Timothy G. Wallace, Chairman and Chief Executive Officer, said: "We are pleased with our first-quarter results which reflect continued growth in our portfolio and solid financial performance. "

Community Healthcare Trust is a real estate investment trust that focuses on acquiring and managing healthcare properties across the United States.