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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 16, 2021 (February 16, 2021)

COMMUNITY HEALTHCARE TRUST INCORPORATED

(Exact Name of Registrant as Specified in 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 Class

Trading Symbol

Name of each exchange on which registered

Common stock, $0.01 par value per share

CHCT

New 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. ☐

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Item 2.02    Results of Operations and Financial Condition

    On February 16, 2021, Community Healthcare Trust Incorporated (the "Company") issued a press release announcing its earnings for the fourth quarter ended December 31, 2020. 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, 2020, 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, 2020 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.

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EXHIBIT INDEX

Exhibit Number			Description
99.1			Press release dated February 16, 2021
99.2			Supplemental Information - Fourth Quarter 2020

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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/ David H. Dupuy David H. Dupuy Executive Vice President and Chief Financial Officer
February 16, 2021

Exhibit 99.1

News Release

Community Healthcare Trust Announces Results for the Three Months Ended December 31, 2020

FRANKLIN, Tenn., February 16, 2021 / PRNewswire / -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended December 31, 2020. The Company reported net income for the fourth quarter of approximately $5.2 million, or $0.21 per diluted common share. Funds from operations and adjusted funds from operations ("AFFO") for the three months ended December 31, 2020 totaled $0.53 and $0.56, respectively, per diluted common share. 

Highlights include:

•During the fourth quarter of 2020, the Company issued, through its at-the-market offering program ("ATM Program"), 480,592 shares of common stock at an average gross sales price of $47.65 per share and received net proceeds of approximately $22.4 million at an approximate 3.64% current equity yield.

•During the fourth quarter of 2020, the Company acquired ten real estate properties totaling approximately 216,102 square feet for an aggregate purchase price and cash consideration of approximately $67.9 million. Upon acquisition, the real estate properties were 100% leased in the aggregate with lease expirations through 2039.

•Subsequent to the fourth quarter of 2020, through February 16, 2021, the Company acquired four real estate properties totaling approximately 80,000 square feet for an aggregate purchase price of approximately $17.8 million and cash consideration of approximately $17.9 million, and entered into a $6.0 million term loan and a revolving line of credit up to $4.0 million with the tenant on two of the properties. Upon acquisition, the properties were 100.0% leased in the aggregate with lease expirations through 2036. These acquisitions were funded with cash on hand and proceeds from the Company's Revolving Credit Facility.

•The Company has two properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $42.0 million. The Company's expected aggregate return on these investments is approximately 9.1%. The Company expects to close on these properties in the first quarter of 2021; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.

•The Company has one property under a definitive purchase agreement for an expected purchase price of approximately $4.4 million. The Company is currently performing due diligence procedures customary for this type of transaction. The Company expects to close on the purchase of this property in the second quarter of 2021; however, the Company cannot provide assurance as to the timing of when, or whether, this transaction will actually close.

•On February 11, 2021, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.4275 per share. The dividend is payable on March 5, 2021 to stockholders of record on February 25, 2021.

COVID-19 Pandemic

•Many healthcare providers have been impacted by the COVID-19 pandemic. Some of them were unable to see patients for a period of time; others have seen a reduced number of elective procedures and/or patient visits; while others have experienced limited impact, or have even seen improved cash flows from either increases in census or from government funding.

•As a result of the pandemic, the Company entered into deferral agreements with eighteen tenants. These represented less than one percent of our annualized rent in the aggregate. Sixteen of these agreements required the tenants to repay the deferred amounts during the last half of 2020, while two of the agreements extended repayment beyond the end of 2020. The Company has remaining payments due under these agreements of less than $100,000 as of December 31, 2020.

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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. The Company had investments of approximately $735.4 million in 141 real estate properties as of December 31, 2020, located in 33 states, totaling approximately 3.1 million square feet.

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

This press release contains statements that are "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", "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 Company's control. 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, the degree and nature of the Company's competition, the ability to consummate acquisitions under contract, effects on global and national markets as well as businesses resulting from the COVID-19 pandemic, 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, 2020 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 release and the Company 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

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited; Dollars in thousands, except per share amounts)

			December 31, 2020						December 31, 2019
ASSETS
Real estate properties:
Land and land improvements			$	83,714					$	68,129
Buildings, improvements, and lease intangibles			651,398						534,503
Personal property			247						220
Total real estate properties			735,359						602,852
Less accumulated depreciation			(102,899)						(77,523)
Total real estate properties, net			632,460						525,329
Cash and cash equivalents			2,483						1,730
Restricted cash			409						293
Other assets, net			33,050						35,179
Total assets			$	668,402					$	562,531
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Debt, net			$	212,374					$	194,243
Accounts payable and accrued liabilities			5,743						3,606
Other liabilities			20,369						11,271
Total liabilities			238,486						209,120
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued and outstanding			—						—
Common stock, $0.01 par value; 450,000,000 shares authorized; 23,888,090 and 21,410,578 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively			239						214
Additional paid-in capital			550,391						447,916
Cumulative net income			36,631						17,554
Accumulated other comprehensive (loss) income			(11,846)						(4,808)
Cumulative dividends			(145,499)						(107,465)
Total stockholders’ equity			429,916						353,411
Total liabilities and stockholders' equity			$	668,402					$	562,531

The Condensed 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.

 

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COMMUNITY HEALTHCARE TRUST INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2020 AND 2019

(Unaudited; Dollars in thousands, except per share amounts)

			Three Months Ended December 31,												Twelve Months Ended December 31,
			2020						2019						2020						2019
REVENUES
Rental income			$	19,728					$	16,292					$	73,925					$	58,269
Other operating interest			396						541						1,759						2,580
			20,124						16,833						75,684						60,849
EXPENSES
Property operating			3,485						2,840						13,614						12,235
General and administrative			2,486						2,126						8,768						7,719
Depreciation and amortization			6,905						5,906						25,378						22,225
			12,876						10,872						47,760						42,179
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND OTHER ITEMS			7,248						5,961						27,924						18,670
Loss on sale of real estate			—						—						(313)						—
Interest expense			(2,124)						(2,513)						(8,620)						(9,301)
Deferred income tax expense			(40)						(1,421)						(80)						(1,430)
Interest and other income, net			156						186						166						437
INCOME FROM CONTINUING OPERATIONS			5,240						2,213						19,077						8,376
NET INCOME			$	5,240					$	2,213					$	19,077					$	8,376
NET INCOME PER COMMON SHARE:
Net income per common share – Basic			$	0.21					$	0.09					$	0.80					$	0.37
Net income per common share – Diluted			$	0.21					$	0.09					$	0.80					$	0.37
WEIGHTED AVERAGE COMMON SHARE OUTSTANDING-BASIC			22,427						19,686						21,576						18,685
WEIGHTED AVERAGE COMMON SHARE OUTSTANDING-DILUTED			22,427						19,686						21,576						18,685

The Condensed 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.

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COMMUNITY HEALTHCARE TRUST INCORPORATED

RECONCILIATION OF FFO and AFFO (1)

(Unaudited; Amounts in thousands, except per share amounts)

			Three Months Ended December 31,
			2020						2019
Net income			$	5,240					$	2,213
Real estate depreciation and amortization			6,951						5,943
Income tax expense (2)			—						1,321
Total adjustments			6,951						7,264
Funds From Operations			$	12,191					$	9,477
Straight-line rent			(693)						(699)
Stock-based compensation			1,393						1,085
AFFO			$	12,891					$	9,863
Funds from Operations per Common Share-Diluted			$	0.53					$	0.47
AFFO Per Common Share-Diluted			$	0.56					$	0.49
Weighted Average Common Shares Outstanding-Diluted (3)			23,068						20,220

 

(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 and FFO per share are operating performance measures 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 and gains or losses from change in control, plus depreciation and amortization related to real estate, plus 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, and after adjustments for unconsolidated partnerships and joint ventures, as well as other items discussed in NAREIT's Funds From Operations White Paper - 2018 Restatement. 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. 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)			In the fourth quarter of 2018, the Company recorded a $5.0 million impairment related to its mezzanine loan with Highland Hospital and recorded a related tax benefit and deferred tax asset of approximately $1.3 million. This deferred tax asset was impaired in the fourth quarter of 2019 and the tax benefit was reversed resulting in tax expense of $1.3 million. The Company believes that the mezzanine loan is incidental to the main operations of the Company. As such, the Company excluded the tax impact from the impairment of the note receivable in its calculation of FFO for the three months ended December 31, 2019.
(3)			Diluted weighted average common shares outstanding for FFO are calculated based on the treasury method, rather than the 2-class method used to calculate earnings per share.

 CONTACT: David H. Dupuy, 615-771-3052

SOURCE: Community Healthcare Trust Incorporated

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Exhibit 99.2

                

			CHCT
			LISTED
			NYSE

                

    

SUPPLEMENTAL INFORMATION 4Q 2020

Community Healthcare Trust						4Q 2020 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, physician offices, specialty centers, acute inpatient behavioral facilities, behavioral specialty facilities, and inpatient rehabilitation facilities 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

                                                        

Company Snapshot			3
Corporate Information			4
Financial Highlights			5
Consolidated Balance Sheets			6
Consolidated Statements of Income			7
Reconciliation of Non-GAAP Measures			8
Weighted Average Shares			10
5-Year Selected Financial Information			11
Executive Compensation			12
Debt Summary			13
Investment Activity			14
Portfolio Diversification			15
Lease Expirations			16
Property Locations			17
Reporting Definitions			21
Disclaimers			24

Community Healthcare Trust						4Q 2020 Supplemental Information

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COMPANY SNAPSHOT

                                                        

			December 31, 2020
Gross real estate investments (in thousands) (1)			$	738,847
Total properties			141
% Leased			88.8		%
Total square feet owned			3,050,992
Weighted Average remaining lease term (years)			8.1
Cash and cash equivalents and restricted cash (in thousands)			$	2,892
Debt to Total Capitalization			28.5		%
Weighted average interest rate per annum on Revolving Line of Credit			1.546		%
Weighted average interest rate per annum on Term Loans			3.881		%
Equity market cap (in millions)			$	1,125.4
Quarterly dividend paid in the period (per share)			$	0.4250
Quarter end stock price (per share)			$	47.11
Dividend yield			3.61		%
Common shares outstanding			23,888,090
___________
(1) Includes a portion of one property accounted for as a financing lease included in Other Assets.

Community Healthcare Trust			Page | 3			4Q 2020 | 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: [email protected]

Website: www.chct.reit

BOARD OF DIRECTORS

Timothy G. Wallace

Alan Gardner

Robert Hensley

Claire Gulmi

R. Lawrence Van Horn

Chairman of the Board

Lead Independent Director

Audit Committee Chair

Compensation Committee Chair

Corporate Governance Committee Chair

EXECUTIVE MANAGEMENT TEAM
Timothy G. Wallace			David H. Dupuy			Leigh Ann Stach
Chief Executive Officer and President			Executive Vice President Chief Financial Officer			Executive Vice President Chief Accounting Officer

COVERING ANALYSTS
A. Goldfarb - Piper Sandler			M. Lewis - Truist Securities
S. McGrath - Evercore ISI			R. Stevenson - Janney Capital Markets
B. Maher - B. Riley FBR			N. Crossett - Berenberg Capital Markets
A. Sweitzer - Baird			B. Oxford - D.A. Davidson & Co.
G. Mehta - National Research			K. Bauser - Colliers International Securities
PROFESSIONAL SERVICES
Independent Registered Public Accounting Firm			Transfer Agent
BDO USA, LLP			American Stock Transfer & Trust Company, LLC
501 Commerce Street, Suite 1400			Operations Center
Nashville, TN 37203			6201 15th Avenue
			Brooklyn, NY 11219
			1-800-937-5449

Community Healthcare Trust			Page | 4			4Q 2020 | Supplemental Information

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FINANCIAL HIGHLIGHTS

                                                        

						Three Months Ended
						4Q 2020			3Q 2020			2Q 2020			1Q 2020			4Q 2019
						(Unaudited and in thousands, except per share data)
INCOME ITEMS
			Revenues			$	20,124		$	19,344		$	18,280		$	17,936		$	16,833
			NOI			$	16,795		$	15,781		$	15,060		$	14,600		$	14,179
			EBITDAre			$	14,309		$	13,570		$	13,161		$	12,408		$	12,053
			Adjusted EDITDAre			$	15,702		$	14,854		$	14,231		$	13,427		$	13,138
			FFO			$	12,191		$	11,598		$	11,007		$	10,209		$	9,477
			AFFO			$	12,891		$	11,968		$	11,352		$	10,350		$	9,863
Per Diluted Share:
			Net income attributable to common shareholders			$	0.21		$	0.22		$	0.19		$	0.18		$	0.09
			FFO			$	0.53		$	0.52		$	0.51		$	0.48		$	0.47
			AFFO			$	0.56		$	0.53		$	0.52		$	0.49		$	0.49
						Three Months Ended
						4Q 2020			3Q 2020			2Q 2020			1Q 2020			4Q 2019
ASSETS
			Gross real estate investments			$	735,359		$	667,342		$	664,687		$	641,856		$	602,852
			Total assets			$	668,402		$	615,672		$	612,304		$	596,754		$	562,531
CAPITALIZATION
			Net debt			$	212,374		$	179,342		$	197,309		$	203,276		$	194,243
			Total capitalization			$	745,189		$	684,956		$	674,110		$	654,633		$	625,177
			Net debt/total capitalization			28.5		%	26.2		%	29.3		%	31.1		%	31.1		%

Community Healthcare Trust			Page | 5			4Q 2020 | Supplemental Information

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CONSOLIDATED BALANCE SHEETS

                                                        

			As of
			4Q 2020			3Q 2020			2Q 2020			1Q 2020			4Q 2019
ASSETS			(Unaudited and in thousands, except per share data)
Real estate properties
Land and land improvements			$	83,714		$	80,123		$	78,999		$	74,680		$	68,129
Buildings, improvements, and lease intangibles			651,398			586,978			585,454			566,954			534,503
Personal property			247			241			234			222			220
Total real estate properties			735,359			667,342			664,687			641,856			602,852
Less accumulated depreciation			(102,899)			(95,993)			(89,698)			(83,582)			(77,523)
Total real estate properties, net			632,460			571,349			574,989			558,274			525,329
Cash and cash equivalents			2,483			12,158			4,896			3,326			1,730
Restricted cash			409			340			351			282			293
Other assets, net			33,050			31,825			32,068			34,872			35,179
Total assets			$	668,402		$	615,672		$	612,304		$	596,754		$	562,531
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Debt, net			$	212,374		$	179,342		$	197,309		$	203,276		$	194,243
Accounts payable and accrued liabilities			5,743			5,800			5,497			5,297			3,606
Other liabilities			20,369			20,909			22,395			20,406			11,271
Total liabilities			238,486			206,051			225,201			228,979			209,120
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 50,000,000 shares authorized			—			—			—			—			—
Common stock, $0.01 par value; 450,000,000 shares authorized			239			234			227			221			214
Additional paid-in capital			550,391			526,636			500,477			475,824			447,916
Cumulative net income			36,631			31,391			26,180			21,654			17,554
Accumulated other comprehensive loss			(11,846)			(13,135)			(13,969)			(13,426)			(4,808)
Cumulative dividends			(145,499)			(135,505)			(125,812)			(116,498)			(107,465)
Total stockholders’ equity			429,916			409,621			387,103			367,775			353,411
Total liabilities and stockholders' equity			$	668,402		$	615,672		$	612,304		$	596,754		$	562,531

Community Healthcare Trust			Page | 6			4Q 2020 | Supplemental Information

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CONSOLIDATED STATEMENTS OF INCOME

                                                        

			Three Months Ended
			4Q 2020			3Q 2020			2Q 2020			1Q 2020			4Q 2019
			(Unaudited and amounts in thousands, except per share data)
REVENUES
Rental income			$	19,728		$	18,939		$	17,830		$	17,428		$	16,292
Other operating interest			396			405			450			508			541
			20,124			19,344			18,280			17,936			16,833
EXPENSES
Property operating			3,485			3,563			3,223			3,343			2,840
General and administrative (1) (2)			2,486			2,191			1,899			2,192			2,126
Depreciation and amortization			6,905			6,295			6,119			6,059			5,906
			12,876			12,049			11,261			11,594			10,872
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND OTHER ITEMS			7,248			7,295			7,019			6,342			5,961
Loss on sale of real estate			—			—			(313)			—			—
Interest expense			(2,124)			(2,064)			(2,183)			(2,249)			(2,513)
Deferred income tax expense (1)			(40)			(20)			(20)			—			(1,421)
Interest and other income, net			156			—			3			7			186
			5,240			(2,084)			(2,493)			(2,242)			(3,748)
NET INCOME			$	5,240		$	5,211		$	4,526		$	4,100		$	2,213
NET INCOME PER COMMON SHARE
Net income per common share – Basic			$	0.21		$	0.22		$	0.19		$	0.18		$	0.09
Net income per common share – Diluted			$	0.21		$	0.22		$	0.19		$	0.18		$	0.09
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING			22,427			21,866			21,264			20,735			19,686
DIVIDENDS DECLARED, PER COMMON SHARE, IN THE PERIOD			$	0.4250		$	0.4225		$	0.4200		$	0.4175		$	0.4150
(1) Reclassed deferred income tax expense from general and administrative expense of $20 for each of the three months ended September 30, 2020 and June 30, 2020 to conform to the current period presentation.
(2) CASH VS. NON-CASH GENERAL AND ADMINISTRATIVE EXPENSES:
Non-cash (stock-based compensation)			55		%	58		%	56		%	47		%	51		%
Cash			45		%	42		%	44		%	53		%	49		%

Community Healthcare Trust			Page | 7			4Q 2020 | Supplemental Information

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RECONCILIATION OF NON-GAAP MEASURES

                                                        

FUNDS FROM OPERATIONS (FFO)

ADJUSTED FUNDS FROM OPERATIONS (AFFO)

						Three Months Ended
						4Q 2020			3Q 2020			2Q 2020			1Q 2020			4Q 2019
						(Unaudited and amounts in thousands, except per share data)
NET INCOME						$	5,240		5,211			$	4,526		$	4,100		$	2,213
			Real estate depreciation and amortization			6,951			6,387			6,168			6,109			5,943
			Income tax expense (benefit)			—			—			—			—			1,321
			Loss (gain) on sales of real estate			—			—			313			—			—
			Total adjustments			6,951			6,387			6,481			6,109			7,264
FFO						$	12,191		11,598			$	11,007		$	10,209		$	9,477
			Straight-line rent			(693)			(914)			(725)			(878)			(699)
			Stock-based compensation			1,393			1,284			1,070			1,019			1,085
AFFO						$	12,891		11,968			$	11,352		$	10,350		$	9,863
FFO PER COMMON SHARE						$	0.53		$	0.52		$	0.51		$	0.48		$	0.47
AFFO PER COMMON SHARE						$	0.56		$	0.53		$	0.52		$	0.49		$	0.49
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING						23,068			22,468			21,750			21,310			20,220
AFFO, ADJUSTED FOR ACQUISITIONS (1)
AFFO						12,891			11,968			11,352			10,350			9,863
			Revenue on Properties Acquired in the period (2)			333			—			348			838			294
			Property operating expense adjustment (2)			(35)			—			(46)			(368)			(36)
AFFO, ADJUSTED FOR ACQUISITIONS						$	13,189		$	11,968		$	11,654		$	10,820		$	10,121
(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.

Community Healthcare Trust			Page | 8			4Q 2020 | Supplemental Information

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RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

                                                        

NET OPERATING INCOME (NOI)

						Three Months Ended
						4Q 2020			3Q 2020			2Q 2020			1Q 2020			4Q 2019
						(Unaudited and amounts in thousands, except per share data)
NET OPERATING INCOME
			Net income			$	5,240		$	5,211		$	4,526		$	4,100		$	2,213
			General and administrative			2,486			2,191			1,899			2,192			2,126
			Depreciation and amortization			6,905			6,295			6,119			6,059			5,906
			Loss on sale of depreciable real estate			—			—			313			—			—
			Interest expense			2,124			2,064			2,183			2,249			2,513
			Deferred Income tax expense			40			20			20			—			1,421
NOI						$	16,795		$	15,781		$	15,060		$	14,600		$	14,179
EBITDAre and ADJUSTED EBITDAre
EBITDAre
			Net income			$	5,240		$	5,211		$	4,526		$	4,100		$	2,213
			Interest expense			2,124			2,064			2,183			2,249			2,513
			Depreciation and amortization			6,905			6,295			6,119			6,059			5,906
			Deferred Income tax expense			40			20			20			—			1,421
			Loss on sale of real estate			—			—			313			—			—
EBITDAre						$	14,309		$	13,590		$	13,161		$	12,408		$	12,053
			Non-cash deferred compensation expense			1,393			1,284			1,070			1,019			1,085
ADJUSTED EBITDAre						$	15,702		$	14,874		$	14,231		$	13,427		$	13,138
ADJUSTED EDITDAre ANNUALIZED (1)						$	62,808

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

Community Healthcare Trust			Page | 9			4Q 2020 | Supplemental Information

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WEIGHTED AVERAGE SHARES

                                                        

						Three Months Ended
						4Q 2020			3Q 2020			2Q 2020			1Q 2020			4Q 2019
						(Unaudited and amounts in thousands, except per share data)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
			Weighted average common shares outstanding			23,592			22,965			22,286			21,733			20,595
			Unvested restricted shares			(1,165)			(1,099)			(1,022)			(998)			(910)
			Weighted average common shares outstanding - EPS			22,427			21,866			21,264			20,735			19,685
			Weighted average common shares outstanding - FFO Basic			22,427			21,866			21,264			20,735			19,685
			Dilutive potential common shares (from below)			641			602			486			575			535
			Weighted average common shares outstanding - FFO Diluted			23,068			22,468			21,750			21,310			20,220
TREASURY SHARE CALCULATION
			Unrecognized deferred compensation-end of period			$	24,202		$	25,595		$	19,904		$	20,159		$	16,570
			Unrecognized deferred compensation-beginning of period			$	25,595		$	19,904		$	20,159		$	16,570		$	17,655
			Average unrecognized deferred compensation			$	24,899		$	22,750		$	20,032		$	18,365		$	17,113
			Average share price per share			$	47.55		$	45.75		$	37.40		$	43.48		$	45.59
			Treasury shares			524			497			536			423			375
			Unvested restricted shares			1,165			1,099			1,022			998			910
			Treasury shares			(524)			(497)			(536)			(423)			(375)
			Dilutive potential common shares			641			602			486			575			535

Community Healthcare Trust			Page | 10			4Q 2020 | Supplemental Information

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5-YEAR SELECTED FINANCIAL INFORMATION

                                                        

						Year Ended December 31,
						2020			2019			2018			2017			2016
						(Amounts in thousands except per share data)
STATEMENT OF OPERATIONS DATA
			Total revenues			$	75,684		$	60,849		$	48,557		$	37,276		$	25,042
			Total operating expenses			$	47,760		$	42,179		$	35,117		$	30,367		$	21,173
			Net income			$	19,077		$	8,376		$	4,403		$	3,510		$	2,721
DILUTED INCOME PER SHARE
			Income per diluted common share			$	0.80		$	0.37		$	0.19		$	0.19		$	0.24
			Weighted average common shares outstanding - Diluted			21,576			18,685			17,669			14,815			11,320
BALANCE SHEET DATA (AS OF THE END OF THE PERIOD)
			Real estate properties, gross			$	735,359		$	602,852		$	444,930		$	388,486		$	252,736
			Real estate properties, net			$	632,460		$	525,329		$	389,632		$	352,350		$	234,332
			Mortgage notes receivable, net			$	—		$	—		$	—		$	10,633		$	10,786
			Total assets			$	668,402		$	562,531		$	426,570		$	385,766		$	251,529
			Debt, net			$	212,374		$	194,243		$	147,766		$	93,353		$	51,000
			Total stockholders' equity			$	429,916		$	353,411		$	271,659		$	283,374		$	194,007
OTHER DATA
			Funds from operations			$	45,005		$	32,074		$	27,448		$	21,224		$	15,912
			Funds from operations per common share - Diluted			$	2.03		$	1.67		$	1.53		$	1.41		$	1.41
			Dividends paid			$	38,034		$	31,947		$	29,375		$	24,432		$	17,783
			Dividends declared and paid per common share			$	1.685		$	1.645		$	1.605		$	1.565		$	1.525

Community Healthcare Trust			Page | 11			4Q 2020 | Supplemental Information

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EXECUTIVE COMPENSATION

                                                                            

																		Performance Based Incentive Compensation
Name and Position						Year			Total Compensation			Salary Taken In Stock (1)			Other (2)			Bonus Stock (1)			Alignment of Interest Stock (3)			1-Year Total Shareholder Return Stock			3-Year Total Shareholder Return Stock			Total Performance Based Incentive Compensation			Percent of Total
Timothy G. Wallace						2020			$	3,737,563		$	645,000		$	13,382		$	548,250		$	1,402,181		$	483,750		$	645,000		$	3,079,181		82.4		%
			Chief Executive Officer and President			2019			$	2,595,964		$	540,000		$	10,800		$	216,000		$	884,164		$	405,000		$	540,000		$	2,045,164		78.8		%
						2018			$	2,247,977		$	458,167		$	—		$	183,267		$	690,209		$	458,167		$	458,167		$	1,789,810		79.6		%
David H. Dupuy (4)						2020			$	2,451,981		$	392,000		$	188,572		$	333,200		$	852,209		$	294,000		$	392,000		$	1,871,409		76.3		%
			Executive Vice President and Chief Financial Officer			2019			$	1,383,110		$	233,333		$	192,729		$	23,333		$	321,215		$	262,500		$	350,000		$	957,048		69.2		%
						2018			$	—		$	—		$	—		$	—		—			—			—			$	—		—		%
W. Page Barnes						2020			$	2,150,234		$	370,400		$	11,616		$	314,840		$	805,178		$	277,800		$	370,400		$	1,768,218		82.2		%
			Executive Vice President and Chief Operating Officer			2019			$	1,579,239		$	328,000		$	8,930		$	131,200		$	537,109		$	246,000		$	328,000		$	1,242,309		78.7		%
						2018			$	1,330,517		$	271,167		$	—		$	108,467		$	408,549		$	271,167		$	271,167		$	1,059,350		79.6		%
Leigh Ann Stach						2020			$	1,895,617		$	326,800		$	8,734		$	277,780		$	710,403		$	245,100		$	326,800		$	1,560,083		82.3		%
			Executive Vice President and Chief Accounting Officer			2019			$	1,274,444		$	266,000		$	1,000		$	106,400		$	435,544		$	199,500		$	266,000		$	1,007,444		79.0		%
						2018			$	1,284,916		$	220,500		$	—		$	188,200		$	435,216		$	220,500		$	220,500		$	1,064,416		82.8		%
(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); moving and relocation expenses for Mr. Dupuy in 2019; and the value of the grant of 5,000 shares of restricted stock to Mr. Dupuy in each of the years 2019 and 2020.
(3) Alignment of interest stock grants per the Alignment Interest Program which is part of the Company's Incentive Plan.
(4) Mr. Dupuy joined the Company on May 1, 2019.

			CEO Pay Ratios
			CEO and President			Median Employee			Average Employee			Lowest Paid Employee
Cash			$	—		$	110,145		$	145,208		$	56,000
Compensation Taken in Stock			3,724,181			29,026			237,481			—
Other Compensation			13,382			2,620			4,828			—
Total Compensation			$	3,737,563		$	141,791		$	387,517		$	56,000
CEO to Employee Ratio						26.36			9.64			66.74

Community Healthcare Trust			Page | 12			4Q 2020 | Supplemental Information

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DEBT SUMMARY

                                                        

			Principal Balance			Stated Rate			Hedged Rate
			(in thousands)
Revolving credit facility			$	33,000		1.55		%
Term loan A-1			50,000			1.56		%	3.60		%
Term loan A-2			50,000			1.76		%	3.93		%
Term loan A-3			75,000			1.96		%	4.03		%
Total Credit Facility			208,000
Secured mortgage loan			5,180			4.98		%	4.98		%
Debt			213,180
Deferred Financing Costs, net			(806)
Debt, net			$	212,374

Select Covenants			Required			Q4 2020
Leverage ratio			≤ 60.0%			28.2		%
Fixed charge coverage ratio			≥ 1.50x			5.9x
Tangible net worth (in thousands)			≥ $404,898			$542,688
Secured indebtedness			≤ 30.0%			0.7		%

Community Healthcare Trust			Page | 13			4Q 2020 | Supplemental Information

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2020 PROPERTY ACQUISITIONS AND ANNUAL INVESTMENTS

                                                        

Property			Market			Property Type			Date Acquired			% Leased at Acquisition			Purchase Price (in thousands)			Square Feet
Baptist Health			San Antonio, TX			MOB			1/27/2020			100.0		%	$	4,003		13,500
San Antonio Head & Neck Surg. Assoc.			San Antonio, TX			MOB			1/27/2020			100.0		%	1,931			6,500
Decatur Hospital MOB			Decatur, AL			MOB			2/18/2020			93.9		%	5,784			35,943
Sanderling Dialysis Center			Ramona, CA			SC			3/13/2020			100.0		%	4,100			11,300
Parkside Family & Davita Clinics			Cuero, TX			SC			3/18/2020			100.0		%	2,153			15,515
Everest Rehabilitation Center			Rogers, AR			IRF			3/27/2020			100.0		%	19,000			38,817
Land parcel			Oak Lawn, IL			MOB			4/20/2020			—		%	400			—
Sanderling Dialysis Center			Germantown, TN			SC			4/29/2020			100.0		%	3,900			10,600
Hopebridge Autism Center			Westlake, OH			SC			6/5/2020			100.0		%	2,443			15,057
Hopebridge Autism Center			Columbus, IN			SC			6/5/2020			100.0		%	1,813			13,969
Bluewater Orthopedics Center			Niceville, FL			MOB			6/15/2020			100.0		%	2,294			10,250
Forefront Dermatology			Greensburg, PA			MOB			6/16/2020			100.0		%	3,389			15,650
Lemak Medical Office Building			Gardendale, AL			MOB			6/24/2020			100.0		%	2,948			12,956
Lemak Medical Office Building			Prattville, AL			MOB			6/24/2020			100.0		%	4,091			13,319
Land parcel			Jensen Beach, FL			MOB			9/18/2020			—		%	1,050			—
Lake Behavioral Hospital			Waukegan, IL			AIB			10/1/2020			100.0		%	30,000			83,658
Genesis Care			Andalusia, AL			SC			10/30/2020			100.0		%	3,698			10,373
Genesis Care			Asheville, NC			SC			10/30/2020			100.0		%	2,187			10,850
Genesis Care			Bonita Springs, FL			SC			10/30/2020			100.0		%	1,243			4,445
Genesis Care			Fort Myers, FL			SC			10/30/2020			100.0		%	8,261			46,356
Genesis Care			Princeton, WV			SC			10/30/2020			100.0		%	1,233			7,236
Genesis Care			Redding, CA			SC			10/30/2020			100.0		%	5,508			12,206
Genesis Care			Southbridge, MA			SC			10/30/2020			100.0		%	8,462			20,046
Genesis Care			Warwick, RI			SC			10/30/2020			100.0		%	3,390			10,236
Genesis Care			Weaverville, NC			SC			10/30/2020			100.0		%	3,927			10,696
												99.7		%	$	127,208		429,478

Community Healthcare Trust			Page | 14			4Q 2020 | Supplemental Information

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PORTFOLIO DIVERSIFICATION

                                                        

Property Type			Annualized Rent (%)
Medical Office Building (MOB)			30.4		%
Acute Inpatient Behavioral (AIB)			19.3		%
Specialty Centers (SC)			15.3		%
Inpatient Rehabilitation Facilities (IRF)			13.4		%
Physician Clinics (PC)			10.1		%
Surgical Centers and Hospitals (SCH)			6.1		%
Behavioral Specialty Facilities (BSF)			3.3		%
Long-term Acute Care Hospitals (LTACH)			2.1		%
Total			100.0		%

State			Annualized Rent (%)
Illinois (IL)			15.4		%
Texas (TX)			14.2		%
Ohio (OH)			8.3		%
Florida (FL)			7.8		%
Massachusetts (MA)			5.0		%
West Virginia (WV)			4.7		%
Other (Less than 4%)			44.6		%
Total			100.0		%

Tenant			Annualized Rent (%)
US Healthvest (US Healthvest)			11.1		%
Everest Rehabilitation (Everest)			9.4		%
Genesis Care (Genesis)			4.9		%
Summit Behavioral Healthcare (Summit)			4.5		%
All Others (Less than 4%)			70.1		%
Total			100.0		%

            

Community Healthcare Trust			Page | 15			4Q 2020 | Supplemental Information

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LEASE EXPIRATIONS

                                                        

						Total Leased Sq. Ft.						Annualized Rent
Year			Number of Leases Expiring			Amount			Percent (%)			Amount ($) (thousands)			Percent (%)
2021			29			164,676			6.1		%	$	3,535		5.2		%
2022			39			216,602			8.1		%	4,687			6.9		%
2023			47			271,815			10.1		%	5,384			8.0		%
2024			21			143,631			5.3		%	3,347			5.0		%
2025			27			253,353			9.4		%	7,052			10.4		%
2026			22			252,948			9.4		%	5,643			8.3		%
2027			4			12,325			0.5		%	360			0.5		%
2028			8			123,461			4.6		%	2,351			3.5		%
2029			13			177,744			6.6		%	5,217			7.7		%
2030			14			172,667			6.4		%	3,157			4.7		%
Thereafter			26			875,472			32.6		%	26,498			39.3		%
Month-to-Month			11			24,491			0.9		%	358			0.5		%
Totals			261			2,689,185			100.0		%	$	67,589		100.0		%

(1) Total portfolio was approximately 88.8% leased in the aggregate at December 31, 2020 with lease expirations ranging from 2021 through 2039.

Community Healthcare Trust			Page | 16			4Q 2020 | 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 92% are in MSAs with populations over 100,000.

Property Name			Property Type			Area			% of Square Feet			Annualized Rent ($000's)			% of Annualized Rent			Population			MSA/MISA			Rank
Chicago Behavioral Hospital			BF			85,000			2.79%			$	2,056.6		3.03%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Presence Regional Cancer Center			SC			44,888			1.47%			$	1,701.0		2.51%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Morris Cancer Center			SC			18,470			0.61%			$	578.8		0.85%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Skin MD			PC			13,565			0.44%			$	474.1		0.70%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Gurnee Medical Office Building			MOB			22,943			0.75%			$	129.2		0.19%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Future Diagnostics Group			SC			8,876			0.29%			$	375.7		0.55%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Novamed Surgery Center			SCH			31,158			1.02%			$	391.1		0.58%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Joliet Oncology-Hematology Associates			PC			7,905			0.26%			$	348.8		0.51%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Presence			MOB			14,863			0.49%			$	326.7		0.48%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
US HealthVest - Lake			AIB			83,658			2.74%			$	2,835.0		4.18%			9,458,539			Chicago-Naperville-Elgin, IL-IN-WI			3
Kindred Healthcare			SC			55,646			1.82%			$	2,705.2		3.99%			7,066,141			Houston-The Woodlands-Sugar Land, TX			5
Bayside Medical Center			MOB			50,593			1.66%			$	740.6		1.09%			7,066,141			Houston-The Woodlands-Sugar Land, TX			5
Northwest Surgery Center			SCH			11,200			0.37%			$	—		—%			7,066,141			Houston-The Woodlands-Sugar Land, TX			5
Haddon Hill Professional Center			MOB			24,567			0.81%			$	502.5		0.74%			6,102,434			Philadelphia-Camden-Wilmington, PA-NJ-DE-MD			8
Mountain View Surgery Center			SCH			13,835			0.45%			$	—		—%			4,948,203			Phoenix-Mesa-Scottsdale, AZ			10
Desert Endoscopy Center			SCH			11,722			0.38%			$	249.7		0.37%			4,948,203			Phoenix-Mesa-Scottsdale, AZ			10
Continuum Wellness Center			PC			8,227			0.27%			$	150.6		0.22%			4,948,203			Phoenix-Mesa-Scottsdale, AZ			10
Berry Surgical Center			SCH			27,217			0.89%			$	580.0		0.86%			4,319,629			Detroit-Warren-Dearborn, MI			14
Associated Surgical Center of Dearborn			SCH			12,400			0.41%			$	381.3		0.56%			4,319,629			Detroit-Warren-Dearborn, MI			14
Smokey Point Behavioral			BF			70,100			2.30%			$	2,651.7		3.91%			3,979,845			Seattle-Tacoma-Bellevue, WA			15
Sanderling Dialysis			SC			11,300			0.37%			$	385.0		0.57%			3,338,330			San Diego-Carlsbad, CA			17
Bay Area Physicians Surgery Center			SCH			18,708			0.61%			$	726.1		1.07%			3,194,831			Tampa-St. Petersburg-Clearwater, FL			18
Liberty Dialysis			SC			8,450			0.28%			$	252.5		0.37%			2,967,239			Denver-Aurora-Lakewood, CO			19
Eyecare Partners			SCH			16,608			0.54%			$	282.3		0.42%			2,803,228			St. Louis, MO-IL			20
Eyecare Partners			PC			6,487			0.21%			$	126.4		0.19%			2,803,228			St. Louis, MO-IL			20
Eyecare Partners			PC			6,311			0.21%			$	45.0		0.07%			2,803,228			St. Louis, MO-IL			20
Eyecare Partners			PC			5,560			0.18%			$	41.2		0.06%			2,803,228			St. Louis, MO-IL			20
Righttime Medical Care			SC			6,236			0.20%			$	292.6		0.43%			2,800,053			Baltimore-Columbia-Towson, MD			21
Bassin Center For Plastic-Surgery-Villages			PC			2,894			0.09%			$	158.0		0.23%			2,608,147			Orlando-Kissimmee-Sanford, FL			23
Medical Village at Wintergarden			MOB			21,648			0.71%			$	564.6		0.83%			2,608,147			Orlando-Kissimmee-Sanford, FL			23
Orthopaedic Associates of Osceola			PC			15,167			0.50%			$	340.4		0.50%			2,608,147			Orlando-Kissimmee-Sanford, FL			23
Bassin Center For Plastic Surgery-Orlando			PC			2,420			0.08%			$	132.1		0.19%			2,608,147			Orlando-Kissimmee-Sanford, FL			23
Kissimmee Physicians Clinic			PC			4,902			0.16%			$	101.0		0.15%			2,608,147			Orlando-Kissimmee-Sanford, FL			23
Baptist Health			MOB			13,500			0.44%			$	368.9		0.54%			2,550,960			San Antonio-New Braunfels, TX			24

Community Healthcare Trust			Page | 17			4Q 2020 | Supplemental Information

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Property Name			Property Type			Area			% of Square Feet			Annualized Rent ($000's)			% of Annualized Rent			Population			MSA/MISA			Rank
San Antonio Head & Neck Surgical Assoc.			MOB			6,500			0.21%			$	177.1		0.26%			2,550,960			San Antonio-New Braunfels, TX			24
Forefront Dermatology Building			MOB			15,650			0.51%			$	313.0		0.46%			2,317,600			Pittsburg, PA			27
Butler Medical Center			MOB			10,116			0.33%			$	265.3		0.39%			2,317,600			Pittsburgh, PA			27
Vascular Access Ctrs. of Southern Nevada			SC			4,800			0.16%			$	—		—%			2,266,715			Las Vegas-Henderson-Paradise, NV			28
Assurance Health System			BF			14,381			0.47%			$	515.4		0.76%			2,221,208			Cincinnati, OH-KY-IN			30
Fresenius Florence Dialysis Center			SC			17,845			0.58%			$	437.8		0.65%			2,221,208			Cincinnati, OH-KY-IN			30
Cavalier Medical & Dialysis Center			MOB			36,986			1.21%			$	261.9		0.39%			2,221,208			Cincinnati, OH-KY-IN			30
Davita Commercial Way			SC			4,980			0.16%			$	106.6		0.16%			2,221,208			Cincinnati, OH-KY-IN			30
Prairie Star Medical Facility I			MOB			24,724			0.81%			$	868.0		1.28%			2,157,990			Kansas City, MO-KS			31
Prairie Star Medical Facility II			MOB			24,840			0.81%			$	95.9		0.14%			2,157,990			Kansas City, MO-KS			31
Sedalia Medical Center			MOB			20,064			0.66%			$	306.6		0.45%			2,122,271			Columbus, OH			32
Hopebridge - Columbus			BSF			13,969			0.46%			$	166.8		0.25%			2,122,271			Columbus, OH			32
Court Street Surgery Center			SCH			7,787			0.26%			$	—		—%			2,122,271			Columbus, OH			32
Kindred Hospital Indianapolis North			LTACH			37,270			1.22%			$	1,439.2		2.12%			2,074,537			Indianapolis-Carmel-Anderson, IN			33
Assurance Health System			BF			13,722			0.45%			$	467.3		0.69%			2,074,537			Indianapolis-Carmel-Anderson, IN			33
Assurance Health, LLC			BF			10,200			0.33%			$	346.1		0.51%			2,074,537			Indianapolis-Carmel-Anderson, IN			33
Rockside Medical Center			MOB			55,013			1.80%			$	1,305.6		1.93%			2,048,449			Cleveland-Elyria, OH			34
Brook Park Medical Building			MOB			18,444			0.60%			$	364.6		0.54%			2,048,449			Cleveland-Elyria, OH			34
Hopebridge - Westlake			BSF			15,057			0.49%			$	223.4		0.33%			2,048,449			Cleveland-Elyria, OH			34
Virginia Orthopaedic & Spine Specialists			PC			8,445			0.28%			$	147.2		0.22%			1,768,901			Virginia Beach-Norfolk-Newport News, VA-NC			37
Ortho RI - West Bay HQ			MOB			21,252			0.70%			$	563.1		0.83%			1,624,578			Providence-Warwick, RI			38
Genesis Care - Warwick			SC			10,236			0.34%			$	327.7		0.48%			1,624,578			Providence-Warwick, RI			38
Sanderling Dialysis			SC			10,133			0.33%			$	513.0		0.76%			1,346,045			Memphis, TN-MS-AR			43
Memphis Center			PC			11,669			0.38%			$	113.0		0.17%			1,346,045			Memphis, TN-MS-AR			43
Glastonbury			MOB			50,519			1.66%			$	860.3		1.27%			1,204,877			Hartford-West Hartford-East Hartford, CT			48
Sterling Medical Center			MOB			28,737			0.94%			$	348.8		0.51%			1,127,983			Buffalo-Cheektowaga-Niagara Falls, NY			49
Gardendale MOB			MOB			12,956			0.42%			$	284.5		0.42%			1,090,435			Birmingham, AL			50
Worcester Behavioral Hospital			BF			81,972			2.69%			$	2,573.3		3.80%			947,404			Worcester, MA-CT			58
Genesis Care - Southbridge			SC			20,046			0.66%			$	802.4		1.18%			947,404			Worcester, MA-CT			58
Los Alamos Professional Plaza			MOB			41,797			1.37%			$	313.2		0.46%			868,707			McAllen-Edinburg-Mission, TX			65
Cardiology Assoc. of Greater Waterbury			PC			16,793			0.55%			$	310.7		0.46%			854,757			New Haven-Milford			67
Columbia Gastroenterology Surgery Ctr			SCH			17,016			0.56%			$	299.0		0.44%			838,433			Columbia, SC			71
Davita Turner Road			SC			18,125			0.59%			$	376.5		0.56%			807,611			Dayton-Kettering, OH			73
Davita Business Center Court			SC			13,048			0.43%			$	260.7		0.38%			807,611			Dayton-Kettering, OH			73
Davita Springboro Pike			SC			10,510			0.34%			$	214.1		0.32%			807,611			Dayton-Kettering, OH			73
Genesis Care - Fort Myers			SC			46,356			1.52%			$	790.3		1.17%			770,577			Cape Coral-Fort Myers, FL			76
Genesis Care - Bonita Springs			SC			4,445			0.15%			$	240.7		0.36%			770,577			Cape Coral-Fort Myers, FL			76
Parkway Professional Plaza			MOB			40,036			1.31%			$	630.1		0.93%			724,777			Lakeland-Winter Haven, FL			81

Community Healthcare Trust			Page | 18			4Q 2020 | Supplemental Information

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Property Name			Property Type			Area			% of Square Feet			Annualized Rent ($000's)			% of Annualized Rent			Population			MSA/MISA			Rank
UH Walden Health Center			PC			11,000			0.36%			$	320.5		0.47%			703,479			Akron, OH			82
Novus Clinic			SCH			14,315			0.47%			$	287.5		0.42%			703,479			Akron, OH			82
Daytona Medical Office			MOB			19,156			0.63%			$	272.8		0.40%			668,365			Deltona-Daytona Beach-Ormond Beach, FL			88
Debary Professional Plaza			MOB			23,019			0.75%			$	127.6		0.19%			668,365			Deltona-Daytona Beach-Ormond Beach, FL			88
UW Health Clinic- Portage			PC			14,000			0.46%			$	306.3		0.45%			664,865			Madison, WI			89
Perrysburg Medical Arts Building			MOB			25,789			0.85%			$	385.1		0.57%			641,816			Toledo, OH			93
St. Vincent Mercy Medical Center, Inc.			MOB			23,368			0.77%			$	301.4		0.44%			641,816			Toledo, OH			93
Cypress Medical Center			MOB			39,746			1.30%			$	825.3		1.22%			640,218			Wichita, KS			94
Family Medicine East			PC			16,581			0.54%			$	410.8		0.61%			640,218			Wichita, KS			94
Grene Vision Center			PC			11,891			0.39%			$	311.8		0.46%			640,218			Wichita, KS			94
Bassin Ctr For Plastic Surgery-Melbourne			PC			5,228			0.17%			$	285.4		0.42%			601,942			Palm Bay-Melbourne-Titusville, FL			96
Penn State Health - Harrisburg			SC			10,000			0.33%			$	200.0		0.30%			577,941			Harrisburg-Carlisle, PA			98
Penn State Health - Camp Hill			SC			8,400			0.28%			$	168.0		0.25%			577,941			Harrisburg-Carlisle, PA			98
Riverview Medical Center			SCH			26,199			0.86%			$	427.3		0.63%			553,885			Scranton--Wilkes-Barre--Hazleton, PA			101
Eynon Surgery Center			SCH			6,500			0.21%			$	167.3		0.25%			553,885			Scranton--Wilkes-Barre--Hazleton, PA			101
Manteca Medical Group Building			MOB			10,564			0.35%			$	304.2		0.45%			550,660			Modesto, CA			102
Grandview Plaza			PC			20,000			0.66%			$	294.7		0.43%			545,724			Lancaster, PA			104
Pinnacle Health			MOB			10,753			0.35%			$	231.8		0.34%			545,724			Lancaster, PA			104
Everest Rehabilitation Hospital			IRF			38,817			1.27%			$	2,090.0		3.08%			534,904			Fayetteville-Springdale-Rogers, AR-MO			107
Treasure Coast Medical Pavilion			MOB			57,254			1.88%			$	709.5		1.05%			489,297			Port St. Lucie, FL			113
AMG Specialty Hospital - Lafayette			BF			29,062			0.95%			$	—		—%			489,207			Lafayette, LA			114
Genesis Care - Weaverville			SC			10,696			0.35%			$	379.5		0.56%			462,680			Asheville, NC			119
Genesis Care - Asheville			SC			10,850			0.36%			$	192.0		0.28%			462,680			Asheville, NC			119
Everest Rehabilitation Hospital			IRF			38,817			1.27%			$	2,138.4		3.16%			460,303			Killeen-Temple, TX			120
Martin Foot & Ankle Clinic			PC			27,100			0.89%			$	391.1		0.58%			449,058			York-Hanover, PA			121
Affinity Health Center			MOB			47,366			1.55%			$	506.7		0.75%			397,520			Canton-Massillon, OH			136
Prattville Town Center MOB			MOB			13,319			0.44%			$	371.0		0.55%			373,290			Montgomery, AL			145
Bristol Pediatric Associates			MOB			10,975			0.36%			$	231.4		0.34%			307,202			Kingsport-Bristol-Bristol, TN-VA			165
Wellmont Bristol Urgent Care			SC			4,548			0.15%			$	73.9		0.11%			307,202			Kingsport-Bristol-Bristol, TN-VA			165
Everest Rehabilitation Hospital			IRF			38,817			1.27%			$	2,138.4		3.16%			286,657			Longview,TX			172
Bluewater Orthopedics Center			MOB			10,255			0.34%			$	210.2		0.31%			284,809			Crestview-Fort Walton Beach-Destin, FL			173
Londonderry Centre			MOB			20,334			0.67%			$	395.5		0.58%			273,920			Waco, TX			177
Meridian Behavioral Health Systems			BF			132,430			4.34%			$	3,015.0		4.45%			257,074			Charleston, WV			189
Gulf Coast Cancer Centers-Foley			SC			6,146			0.20%			$	162.2		0.24%			223,234			Daphne-Fairhope-Foley, AL			203
Gulf Coast Cancer Centers- Gulf Shores			SC			6,398			0.21%			$	126.7		0.19%			223,234			Daphne-Fairhope-Foley, AL			203
Monroe Surgical Hospital			SCH			58,121			1.90%			$	2,202.5		3.25%			200,261			Monroe, LA			224
Tuscola Professional Building			MOB			25,500			0.84%			$	598.2		0.88%			190,539			Saginaw, MI			228

Community Healthcare Trust			Page | 19			4Q 2020 | Supplemental Information

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Property Name			Property Type			Area			% of Square Feet			Annualized Rent ($000's)			% of Annualized Rent			Population			MSA/MISA			Rank
Fresenius Ft. Valley			SC			4,920			0.16%			$	94.5		0.14%			185,409			Warner Robins, GA			231
Genesis Care - Redding			SC			12,206			0.40%			$	505.5		0.75%			180,080			Redding, CA			237
Kedplasma			SC			12,870			0.42%			$	272.1		0.40%			169,509			Burlington, NC			251
Decatur Morgan Hospital MOB			MOB			35,943			1.18%			$	567.2		0.84%			152,603			Decatur, AL			273
Provena Medical Center			MOB			53,653			1.76%			$	588.9		0.87%			109,862			Kankakee, IL			344
Parkside Family & Davita Clinics			MOB			15,637			0.51%			$	213.1		0.31%			99,742			Victoria, TX			357
Fresenius Gallipolis Dialysis Center			SC			15,110			0.50%			$	159.3		0.24%			56,414			Point Pleasant, WV-OH			N/A
Davita Etowah Dialysis Center			SC			4,720			0.15%			$	71.8		0.11%			53,794			Athens, TN			N/A
Fresenius Dialysis Center			SC			17,746			0.58%			$	132.0		0.19%			50,113			Corsicana, TX			N/A
Arkansas Valley Surgery Center			SCH			10,853			0.36%			$	212.0		0.31%			47,839			Cañon City, CO			N/A
Davita Dialysis			SC			12,545			0.41%			$	427.4		0.63%			45,346			Pahrump, NV			N/A
Wellmont Associates Complex			MOB			32,542			1.07%			$	461.7		0.68%			41,364			Big Stone Gap, VA			N/A
Wellmont Norton Urgent Care			SC			5,000			0.16%			$	57.5		0.08%			41,364			Big Stone Gap, VA			N/A
Eyecare Partners			PC			8,421			0.28%			$	122.1		0.18%			37,205			Centralia, IL			N/A
Gulf Coast Cancer Centers-Brewton			SC			3,971			0.13%			$	104.8		0.15%			36,633			Atmore, AL			N/A
Ottumwa Medical Clinic			MOB			75,448			2.47%			$	925.3		1.37%			34,969			Ottumwa, IA			N/A
Sanderling Dialysis Center			SC			4,186			0.14%			$	274.0		0.40%			27,812			Crescent City, CA			N/A
Russellville Medical Plaza			MOB			29,129			0.95%			$	152.1		0.22%			County: 31,362			RURAL - NO CBSA			N/A
Genesis Care - Andalusia			SC			10,373			0.34%			$	339.1		0.50%			County: 37,049			RURAL - NO CBSA			N/A
Dahlonega Medical Mall			MOB			22,227			0.73%			$	160.9		0.24%			County: 33,610			RURAL - NO CBSA			N/A
Tri Lakes Behavioral			BF			58,400			1.91%			$	527.0		0.78%			County: 34,192			RURAL - NO CBSA			N/A
Batesville Regional Medical Center			MOB			9,263			0.30%			$	46.1		0.07%			County: 34,192			RURAL - NO CBSA			N/A
North Mississippi Health Services			MOB			27,743			0.91%			$	138.0		0.20%			County: 35,252			RURAL - NO CBSA			N/A
North Mississippi Health Services			MOB			18,074			0.59%			$	89.9		0.13%			County: 35,252			RURAL - NO CBSA			N/A
North Mississippi Health Services			MOB			17,629			0.58%			$	87.7		0.13%			County: 35,252			RURAL - NO CBSA			N/A
North Mississippi Health Services			MOB			9,890			0.32%			$	49.2		0.07%			County: 35,252			RURAL - NO CBSA			N/A
Genesis Care - Princeton			SC			7,236			0.24%			$	170.8		0.25%			County: 58,758			RURAL - NO CBSA			N/A
Sanderling Dialysis Center			SC			5,217			0.17%			$	258.8		0.38%			County: 13,279			RURAL - NO CBSA			N/A
North Mississippi Health Services			MOB			3,378			0.11%			$	16.8		0.02%			County: 35,252			RURAL - NO CBSA			N/A
Rettig Family Healthcare			PC			12,000			0.39%			$	180.0		0.27%			County: 23,437			RURAL - NO CBSA			N/A
Haleyville Physicians Professional Bldg			MOB			29,515			0.97%			$	154.1		0.23%			County: 23,629			RURAL - NO CBSA			N/A
Wellmont Lebanon Urgent Care			SC			8,369			0.27%			$	100.4		0.15%			County: 26,586			RURAL - NO CBSA			N/A

Community Healthcare Trust			Page | 20			4Q 2020 | 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 other 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 EDITDAre

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 EDITDAre of unconsolidated affiliates and consolidated affiliates with non-controlling interest. The Company also presents Adjusted EDITDAre which is EDITDAre before non-cash deferred compensation amortization.

We consider EBITDAre and Adjusted EDITDAre 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 | 21			4Q 2020 | Supplemental Information

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REPORTING DEFINITIONS (continued)

                                                            

The Company uses the NAREIT definition of FFO. FFO and FFO per share are operating performance measures adopted by NAREIT. NAREIT defines FFO as the most commonly accepted and reported measure of a REIT's

operating performance equal to net income (computed in accordance with GAAP), excluding gains (or losses) from sales of property and impairments of real estate, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. 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 deferred compensation and may include 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 density's 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.

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.

Community Healthcare Trust			Page | 22			4Q 2020 | Supplemental Information

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REPORTING DEFINITIONS (continued)

                                                            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			Page | 23			4Q 2020 | 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, 2020 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			Page | 24			4Q 2020 | Supplemental Information