Community Healthcare Trust Incorporated (CHCT) has reported 687.07 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $0.91 million, or $0.07 a share in the quarter, compared with $0.12 million, or $0.02 a share for the same period last year. Revenue during the quarter surged 54.99 percent to $8.01 million from $5.17 million in the previous year period.
Cost of revenue surged 65.68 percent or $0.69 million during the quarter to $1.74 million. Gross margin for the quarter contracted 140 basis points over the previous year period to 78.29 percent.
Total expenses were $6.50 million for the quarter, up 39.16 percent or $1.83 million from year-ago period. Operating margin for the quarter expanded 923 basis points over the previous year period to 18.83 percent.
Operating income for the quarter was $1.51 million, compared with $0.50 million in the previous year period.
Revenue from real estate activities during the quarter surged 54.99 percent or $2.84 million to $8.01 million.
Income from operating leases during the quarter surged 80.18 percent or $2.95 million to $6.62 million. Revenue from tenant reimbursements was $1.13 million for the quarter, up 17.87 percent or $0.17 million from year-ago period.
Revenue from other real estate activities during the quarter was $0.26 million, down 51.31 percent or $0.28 million from year-ago period.
As announced on March 1, 2017, the Company’s Chairman, Chief Executive Officer and President Timothy Wallace entered into a 10b5-1 plan to acquire shares of the Company’s common stock. The plan replaced Mr. Wallace's 10b5-1 trading plan dated February 29, 2016, which expired on December 31, 2016. The new trading plan was entered into on February 27, 2017 and became effective April 3, 2017. Under the plan, Mr. Wallace will be able to purchase up to the lesser of $2,000,000 or 100,000 shares of the Company's common stock, subject to timing, price and trading limitations.
Net receivables were at $10.65 million as on Mar. 31, 2017, down 54.24 percent or $12.63 million from year-ago.
Total assets jumped 54.97 percent or $98.53 million to $277.77 million on Mar. 31, 2017. On the other hand, total liabilities were at $87.76 million as on Mar. 31, 2017, up 47.14 percent or $28.12 million from year-ago.
Return on assets moved up 27 basis points to 0.54 percent in the quarter. At the same time, return on equity moved up 38 basis points to 0.48 percent in the quarter.
Debt increases substantially
Total debt was at $81.24 million as on Mar. 31, 2017, up 47.70 percent or $26.24 million from year-ago. Shareholders equity stood at $190.01 million as on Mar. 31, 2017, up 58.88 percent or $70.41 million from year-ago. As a result, debt to equity ratio went down 3 basis points to 0.43 percent in the quarter.
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