CHCT Reports Earnings

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• Total G&A expense was $4.8M in Q4 2025, nearly flat quarter over quarter from $4.7M and flat year over year from $4.8M in Q4 2024.

  80% confidence

• CHCT's historically programmatic acquisition pace was approximately $50M to $60M per year from client business, plus a similar amount from brokered transactions, totaling $120M to $150M annually; the company would return to this pace if stock price allows accretive capital raises.

  80% confidence

• CHCT did not issue any shares under its ATM program during Q4 2025 and anticipates having sufficient capital from asset sales and revolver capacity to fund near-term acquisitions.

  80% confidence

• The buyer of the geriatric behavioral hospital operations is finalizing legal and business due diligence; CHCT cannot provide specific timing or certainty that the transaction will close.

  80% confidence

• Property operating expense increased by less than $100,000 quarter over quarter to $6.0M in Q4 2025.

  80% confidence

• FFO in Q4 2025 was $13.3M, a 4.6% increase year over year compared to $12.7M in Q4 2024. On a diluted per share basis, FFO increased from $0.48 to $0.49, though $0.01 less than the prior quarter's $0.50.

  80% confidence

• Interest expense decreased slightly by approximately $100,000 quarter over quarter to $7.0M in Q4 2025, primarily due to FOMC interest rate cuts and lower floating rates on the revolving credit facility.

  80% confidence

• CHCT's weighted average lease term increased from 6.7 to 7 years during Q4 2025.

  80% confidence

• CHCT has signed definitive purchase and sale agreements for five properties with an aggregate expected investment of $122.5M and expected returns of 9.1% to 9.75%.

  80% confidence

• The Q4 2025 inpatient rehab facility sale was completed at approximately a 7.9% cap rate, generating a gain of approximately $11.5M, with proceeds reinvested through a 1031 exchange into a new facility at $28.5M purchase price and 9.3% anticipated annual return with a lease through 2040.

  80% confidence

• CHCT's portfolio occupancy increased from 90.1% to 90% during Q4 2025.

  80% confidence

• The largest redevelopment project is expected to be completed in 2026 with rent commencing in Q3 after the tenant obtains the appropriate provider license.

  80% confidence

• CHCT declared its Q4 2025 dividend at $0.4775 per common share, equating to an annualized dividend of $1.91 per share, and has raised its dividend every quarter since its IPO.

  80% confidence

• For the full year 2025, CHCT acquired three properties totaling 113,000 square feet for $64.5M in aggregate, 100% leased through 2040 with anticipated annual returns of 9.3% to 9.5%.

  80% confidence

• AFFO in Q4 2025 totaled $14.9M, a 2.1% increase year over year versus $14.6M in Q4 2024. On a diluted per share basis, AFFO was $0.55, flat year over year but $0.01 less quarter over quarter from $0.56.

  80% confidence

• CHCT's goal is to keep leverage in its current range and not meaningfully add leverage over time, though timing of acquisitions and dispositions may create temporary gaps.

  80% confidence

• CHCT expects embedded growth in its 2026 numbers from two redevelopment projects anticipated to come online in mid-2026 and end of 2026.

  80% confidence

• Total revenue grew from $29.3M in Q4 2024 to $30.9M in Q4 2025, representing 5.6% annual growth.

  80% confidence

• The geriatric behavioral hospital transaction is expected to close all at once across all six hospitals in three states, with no staged closing planned.

  80% confidence

• The Geriatric Behavioral Hospital operator paid rent of $200,000 during Q4 2025, consistent with last quarter.

  80% confidence

• Disposition cap rates for assets CHCT is selling are expected to be in the approximately 7.9% range, while acquisition opportunities are available in the 9% to 10% cap rate range.

  80% confidence

• Net gains on sale of $12.1M from capital recycling and asset disposition activity during Q4 2025 increased net income but did not impact FFO or AFFO.

  80% confidence

• CHCT has three properties undergoing redevelopment or significant renovations with long-term tenants in place upon completion.

  80% confidence

• Q4 2025 total revenue was $30.9M, a slight decrease of $140,000 quarter over quarter versus $31.1M in the prior quarter.

  80% confidence

• CHCT expects leased occupancy to remain in the low nineties percent range for the next couple of quarters, with improvement expected in the second half of 2026.

  80% confidence

• The dialysis term sheet pipeline is on the back burner; CHCT still holds four dialysis clinics with the operator but does not anticipate programmatic transactions anytime soon.

  80% confidence

• Less progress than hoped was made on the geriatric behavioral hospital transaction in Q4 2025, partly because the buyer needed to confirm various liabilities and was dependent on the government to resolve some issues. Significantly more activity is being seen in Q1 2026.

  80% confidence

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