chct-20211102
false000163156900016315692021-11-012021-11-01


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): November 2, 2021 (November 2, 2021)

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 November 2, 2021, Community Healthcare Trust Incorporated (the "Company") issued a press release announcing its earnings for the third quarter ended September 30, 2021. 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 third quarter ended September 30, 2021, 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 third quarter ended September 30, 2021 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
99.2
104Cover Page Interactive Date 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/ David H. Dupuy
David H. Dupuy
Executive Vice President and
Chief Financial Officer
November 2, 2021  




Exhibit 99.1

News Release

Community Healthcare Trust Announces Results for the Three Months Ended September 30, 2021

FRANKLIN, Tenn., November 2, 2021 / PRNewswire / -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended September 30, 2021. The Company reported net income for the third quarter of approximately $5.4 million, or $0.20 per diluted common share. Funds from operations and adjusted funds from operations ("AFFO") for the three months ended September 30, 2021 totaled $0.55 and $0.59, respectively, per diluted common share. 

Highlights include:
•During the third quarter of 2021, the Company issued, through its at-the-market offering program ("ATM Program"), 139,216 shares of common stock at an average gross sales price of $48.63 per share and received net proceeds of approximately $6.6 million at an approximate 3.63% current equity yield.

•During the third quarter of 2021, the Company acquired two real estate properties for an aggregate purchase price of approximately $9.3 million. Upon acquisition, the properties were 100% leased in the aggregate with lease expirations through 2026.

•Subsequent to September 30, 2021, the Company acquired one property for a purchase price of approximately $3.5 million. The property was approximately 83.4% leased with lease expirations through 2030.

•The Company has three properties under definitive purchase agreements for an expected aggregate purchase price of approximately $12.2 million. The Company expects to close on these properties during the fourth quarter of 2021; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close. The Company expects to fund these acquisitions with cash on hand, proceeds from the Company's ATM Program, or proceeds from the Company's Revolving Credit Facility.

•The Company also has four properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $94.0 million. The Company's expected returns on these investments are approximately 10.25%. The Company anticipates closing on these properties from the first quarter of 2022 through the second quarter of 2023; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.

•On October 28, 2021, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.4350 per share. The dividend is payable on November 26, 2021 to stockholders of record on November 12, 2021.

1

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 September 30, 2021, the Company had investments of approximately $824.4 million in 151 real estate properties (including a portion of one property accounted for as a financing lease and one property classified as held for sale). The properties are located in 33 states, totaling approximately 3.3 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
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.

2


COMMUNITY HEALTHCARE TRUST INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share amounts)
(Unaudited)
September 30, 2021December 31, 2020
ASSETS
Real estate properties:
Land and land improvements
$95,514 $83,714 
Buildings, improvements, and lease intangibles
724,465 651,398 
Personal property
222 247 
Total real estate properties
820,201 735,359 
Less accumulated depreciation
(125,243)(102,899)
Total real estate properties, net
694,958 632,460 
Cash and cash equivalents
1,641 2,483 
Restricted cash
456 409 
Other assets, net
50,537 33,050 
Total assets
$747,592 $668,402 
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Debt, net
$257,560 $212,374 
Accounts payable and accrued liabilities
6,910 5,743 
Other liabilities, net
21,451 20,369 
Total liabilities
285,921 238,486 
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; 24,982,287 and 23,888,090 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively
250 239 
Additional paid-in capital
593,717 550,391 
Cumulative net income
53,010 36,631 
Accumulated other comprehensive loss
(8,269)(11,846)
Cumulative dividends
(177,037)(145,499)
Total stockholders’ equity
461,671 429,916 
Total liabilities and stockholders' equity
$747,592 $668,402 

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.
 

3


COMMUNITY HEALTHCARE TRUST INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020
(Unaudited; Dollars in thousands, except per share amounts)
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202020212020
REVENUES
Rental income
$22,447 $18,939 $65,233 $54,197 
Other operating interest
807 405 2,104 1,363 
23,254 19,344 67,337 55,560 
EXPENSES
Property operating
4,051 3,563 11,623 10,129 
General and administrative
3,206 2,191 8,958 6,282 
Depreciation and amortization
7,812 6,295 22,576 18,473 
15,069 12,049 43,157 34,884 
INCOME BEFORE INCOME TAXES AND OTHER ITEMS
8,185 7,295 24,180 20,676 
Loss on sale of real estate
— — — (313)
Interest expense
(2,788)(2,064)(7,753)(6,496)
        Deferred income tax expense
(45)(20)(104)(40)
Interest and other income, net
2 — 56 10 
NET INCOME
$5,354 $5,211 $16,379 $13,837 
NET INCOME PER COMMON SHARE:
Net income per common share – Basic
$0.20 $0.22 $0.63 $0.59 
Net income per common share – Diluted
$0.20 $0.22 $0.63 $0.59 
WEIGHTED AVERAGE COMMON SHARE OUTSTANDING-BASIC
23,472 21,866 23,161 21,290 
WEIGHTED AVERAGE COMMON SHARE OUTSTANDING-DILUTED
23,472 21,866 23,161 21,290 

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.


4


COMMUNITY HEALTHCARE TRUST INCORPORATED
RECONCILIATION OF FFO and AFFO (1)
(Unaudited; Amounts in thousands, except per share amounts)
Three Months Ended September 30,
20212020
Net income$5,354 $5,211 
   Real estate depreciation and amortization7,871 6,387 
FFO$13,225 $11,598 
   Straight-line rent(895)(914)
   Stock-based compensation2,004 1,284 
AFFO$14,334 $11,968 
   FFO per Common Share-Diluted
$0.55 $0.52 
   AFFO per Common Share-Diluted$0.59 $0.53 
Weighted Average Common Shares Outstanding-Diluted (2)
24,220 22,468 
 
(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, 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: David H. Dupuy, 615-771-3052
SOURCE: Community Healthcare Trust Incorporated
5

Exhibit 99.2
                
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CHCT
LISTED
NYSE
                
    

SUPPLEMENTAL INFORMATION
Q3 2021

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Community Healthcare Trust3Q 2021 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
                                                        
5-Year Selected Financial Information
11



Community Healthcare Trust3Q 2021 Supplemental Information
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COMPANY SNAPSHOT
                                                        
September 30, 2021
Gross real estate investments (in thousands) (1)
$824,360 
Total properties151 
% Leased89.3 %
Total square feet owned3,330,438 
Weighted Average remaining lease term (years)8.0 
Cash and cash equivalents and restricted cash (in thousands)$2,097 
Debt to Total Capitalization30.5 %
Weighted average interest rate per annum on Revolving Line of Credit3.90 %
Weighted average interest rate per annum on Term Loans3.95 %
Equity market cap (in millions)$1,128.9 
Quarterly dividend paid in the period (per share)$0.4325 
Quarter end stock price (per share)$45.19 
Dividend yield3.83 %
Common shares outstanding24,982,287 
___________
(1) Includes a portion of one property accounted for as a financing lease and one property held for sale.
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Community Healthcare Trust
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3Q 2021 | 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. WallaceAlan GardnerRobert HensleyClaire GulmiR. Lawrence Van Horn
Chairman of the BoardLead Independent
Director		Audit Committee
Chair		Compensation Committee
Chair		ESG Committee
Chair
EXECUTIVE MANAGEMENT TEAM
Timothy G. WallaceDavid H. DupuyLeigh 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. McGrath - Evercore ISIR. Stevenson - Janney Capital Markets
B. Maher - B. Riley FBRN. Crossett - Berenberg Capital Markets
A. Sweitzer - BairdD. Toti - Colliers International Securities
PROFESSIONAL SERVICES
Independent Registered Public Accounting Firm Transfer Agent
BDO USA, LLPAmerican Stock Transfer & 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
Page | 4
3Q 2021 | Supplemental Information
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FINANCIAL HIGHLIGHTS
                                                        
Three Months Ended
3Q 20212Q 20211Q 20214Q 20203Q 2020
(Unaudited and in thousands, except per share data)
INCOME STATEMENT ITEMS
Revenues$23,254 $22,688 $21,395 $20,124 $19,344 
Net income$5,354 $5,710 $5,315 $5,240 $5,211 
NOI$19,205 $18,898 $17,667 $16,795 $15,781 
EBITDAre
$15,999 $16,005 $14,808 $14,309 $13,590 
Adjusted EDITDAre
$18,003 $17,611 $16,366 $15,702 $14,874 
FFO$13,225 $13,303 $12,591 $12,191 $11,598 
AFFO$14,334 $13,928 $13,311 $12,891 $11,968 
Per Diluted Share:
Net income attributable to common shareholders$0.20 $0.22 $0.21 $0.21 $0.22 
FFO$0.55 $0.56 $0.54 $0.53 $0.52 
AFFO$0.59 $0.58 $0.57 $0.56 $0.53 
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Community Healthcare Trust
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3Q 2021 | Supplemental Information
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FINANCIAL HIGHLIGHTS (Continued)
                                                        
Three Months Ended
3Q 20212Q 20211Q 20214Q 20203Q 2020
(Unaudited and dollars in thousands)
BALANCE SHEET ITEMS
ASSETS
Total real estate properties$820,201 $809,306 $796,870 $735,359 $667,342 
Total assets$747,592 $745,467 $735,311 $668,402 $615,672 
CAPITALIZATION
Net debt$257,560 $258,503 $260,446 $212,374 $179,342 
Total capitalization$844,474 $833,005 $820,440 $745,189 $684,956 
Net debt/total capitalization30.5 %31.0 %31.7 %28.5 %26.2 %
Market valuation$1,128,950 $1,171,641 $1,126,118 $1,125,368 $1,094,535 
Enterprise value$1,384,413 $1,424,890 $1,380,561 $1,334,850 $1,261,379 
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Community Healthcare Trust
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3Q 2021 | Supplemental Information
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CONSOLIDATED BALANCE SHEETS
                                                        
As of
3Q 20212Q 20211Q 20214Q 20203Q 2020
ASSETS
(Unaudited and in thousands, except per share data)
Real estate properties
Land and land improvements
$95,514 $92,934 $91,428 $83,714 $80,123 
Buildings, improvements, and lease intangibles
724,465 716,154 705,224 651,398 586,978 
Personal property
222 218 218 247 241 
Total real estate properties
820,201 809,306 796,870 735,359 667,342 
Less accumulated depreciation
(125,243)(117,446)(109,908)(102,899)(95,993)
Total real estate properties, net
694,958 691,860 686,962 632,460 571,349 
Cash and cash equivalents
1,641 4,787 5,605 2,483 12,158 
Restricted cash
456 467 398 409 340 
Other assets, net
50,537 48,353 42,346 33,050 31,825 
Total assets
$747,592 $745,467 $735,311 $668,402 $615,672 
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Debt, net
$257,560 $258,503 $260,446 $212,374 $179,342 
Accounts payable and accrued liabilities
6,910 6,815 6,526 5,743 5,800 
Other liabilities, net
21,451 23,093 18,253 20,369 20,909 
Total liabilities
285,921 288,411 285,225 238,486 206,051 
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
250 247 244 239 234 
Additional paid-in capital
593,717 585,177 571,781 550,391 526,636 
Cumulative net income
53,010 47,656 41,946 36,631 31,391 
Accumulated other comprehensive loss
(8,269)(9,739)(8,111)(11,846)(13,135)
Cumulative dividends
(177,037)(166,285)(155,774)(145,499)(135,505)
Total stockholders’ equity
461,671 457,056 450,086 429,916 409,621 
Total liabilities and stockholders' equity
$747,592 $745,467 $735,311 $668,402 $615,672 


Community Healthcare Trust
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3Q 2021 | Supplemental Information
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CONSOLIDATED STATEMENTS OF INCOME
                                                        
Three Months Ended
3Q 20212Q 20211Q 20214Q 20203Q 2020
(Unaudited and amounts in thousands, except per share data)
REVENUES
Rental income
$22,447 $22,006 $20,780 $19,728 $18,939 
Other operating interest
807 682 615 396 405 
23,254 22,688 21,395 20,124 19,344 
EXPENSES
Property operating
4,051 3,843 3,729 3,485 3,563 
        General and administrative (1) (2)
3,206 2,893 2,859 2,486 2,191 
Depreciation and amortization
7,812 7,539 7,225 6,905 6,295 
15,069 14,275 13,813 12,876 12,049 
INCOME BEFORE INCOME TAXES AND OTHER ITEMS
8,185 8,413 7,582 7,248 7,295 
Interest expense
(2,788)(2,736)(2,229)(2,124)(2,064)
Deferred income tax expense (1)
(45)(20)(39)(40)(20)
Interest and other income, net
2 53 1 156 — 
NET INCOME
$5,354 $5,710 $5,315 $5,240 $5,211 
NET INCOME PER COMMON SHARE
NET INCOME PER DILUTED COMMON SHARE
$0.20 $0.22 $0.21 $0.21 $0.22 
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
23,472 23,195 22,809 22,427 21,866 
DIVIDENDS DECLARED, PER COMMON SHARE, IN THE PERIOD
$0.4325 $0.4300 $0.4275 $0.4250 $0.4225 
                                      
(1) Reclassed $20 of deferred income tax expense from general and administrative expense for the three months ended September 30, 2020 to conform to the current period presentation.
(2) GENERAL AND ADMINISTRATIVE EXPENSES:
Non-cash vs. Cash:
     Non-cash (stock-based compensation) (a)
62.5 %55.5 %54.5 %55.2 %58.6 %
     Cash
37.5 %44.5 %45.5 %44.8 %41.4 %
As a % of Revenue:
     Non-cash (stock-based compensation) (a)
8.6 %7.1 %7.3 %6.9 %6.6 %
     Cash
5.2 %5.7 %6.1 %5.4 %4.7 %
________________
(a) Stock-based compensation for Q3 2021 includes accelerated amortization of approximately $0.2 million due to the elimination of a position and termination of employees. Excluding this accelerated amortization, non-cash as a % of revenue would have been approximately 7.7%.

Community Healthcare Trust
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3Q 2021 | Supplemental Information
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RECONCILIATION OF NON-GAAP MEASURES
                                                        
FUNDS FROM OPERATIONS (FFO)
ADJUSTED FUNDS FROM OPERATIONS (AFFO)
Three Months Ended
3Q 20212Q 20211Q 20214Q 20203Q 2020
(Unaudited and amounts in thousands, except per share data)
NET INCOME$5,354 $5,710 $5,315 $5,240 $5,211 
Real estate depreciation and amortization7,871 7,593 7,276 6,951 6,387 
FFO$13,225 $13,303 $12,591 $12,191 $11,598 
Straight-line rent(895)(981)(838)(693)(914)
Stock-based compensation2,004 1,606 1,558 1,393 1,284 
AFFO$14,334 $13,928 13,311 12,891 $11,968 
FFO PER COMMON SHARE $0.55 $0.56 $0.54 $0.53 $0.52 
AFFO PER COMMON SHARE$0.59 $0.58 $0.57 $0.56 $0.53 
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING24,220 23,908 23,500 23,068 22,468 
AFFO, ADJUSTED FOR ACQUISITIONS (1)
AFFO$14,334 $13,928 $13,311 $12,891 $11,968 
Revenue on Properties Acquired in the period (2)131 216 866 333 — 
Property operating expense adjustment (2)(28)(65)(114)(35)— 
AFFO, ADJUSTED FOR ACQUISITIONS$14,437 $14,079 $14,063 $13,189 $11,968 
                                   
(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.
AMORTIZATION OF DEFERRED COMPENSATION
Amortization Required by GAAP (3)$2,004 $1,606 $1,558 $1,393 $1,284 
Amortization Based on Legal Vesting Periods1,457 1,317 1,295 1,037 1,029 
Acceleration of Amortization$547 $289 $263 $356 $255 
                                   
(3) GAAP requires that deferred compensation be amortized over the earlier of the vesting or retirement eligibility date.

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Page | 9
3Q 2021 | Supplemental Information
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RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)
                                                        
NET OPERATING INCOME (NOI)
Three Months Ended
3Q 20212Q 20211Q 20214Q 20203Q 2020
(Unaudited and amounts in thousands, except per share data)
NET OPERATING INCOME
Net income$5,354 $5,710 $5,315 $5,240 $5,211 
General and administrative3,206 2,893 2,859 2,486 2,191 
Depreciation and amortization7,812 7,539 7,225 6,905 6,295 
Interest expense2,788 2,736 2,229 2,124 2,064 
Deferred Income tax expense45 20 39 40 20 
NOI$19,205 $18,898 $17,667 $16,795 $15,781 
EBITDAre and ADJUSTED EBITDAre
EBITDAre
Net income$5,354 $5,710 $5,315 $5,240 $5,211 
Interest expense2,788 2,736 2,229 2,124 2,064 
Depreciation and amortization7,812 7,539 7,225 6,905 6,295 
Deferred Income tax expense45 20 39 40 20 
EBITDAre
$15,999 $16,005 $14,808 $14,309 $13,590 
Non-cash stock-based compensation expense2,004 1,606 1,558 1,393 1,284 
ADJUSTED EBITDAre
$18,003 $17,611 $16,366 $15,702 $14,874 
ADJUSTED EDITDAre ANNUALIZED (1)
$72,012 

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



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3Q 2021 | Supplemental Information
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WEIGHTED AVERAGE SHARES
                                                        
Three Months Ended
3Q 20212Q 20211Q 20214Q 20203Q 2020
(Unaudited and amounts in thousands, except per share data)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Weighted average common shares outstanding24,826 24,457 24,053 23,592 22,965 
Unvested restricted shares
(1,354)(1,262)(1,244)(1,165)(1,099)
Weighted average common shares outstanding - EPS
23,472 23,195 22,809 22,427 21,866 
Weighted average common shares outstanding - FFO Basic
23,472 23,195 22,809 22,427 21,866 
Dilutive potential common shares (from below) 748 713 691 641 602 
Weighted average common shares outstanding - FFO Diluted24,220 23,908 23,500 23,068 22,468 
TREASURY SHARE CALCULATION
Unrecognized deferred compensation-end of period$32,215 $26,600 $27,144 $24,202 $25,595 
Unrecognized deferred compensation-beginning of period$26,600 $27,144 $24,202 $25,595 $19,904 
Average unrecognized deferred compensation$29,408 $26,872 $25,673 $24,899 $22,750 
Average share price per share$48.49 $48.92 $46.43 $47.55 $45.75 
Treasury shares606 549 553 524 497 
Unvested restricted shares1,354 1,262 1,244 1,165 1,099 
Treasury shares(606)(549)(553)(524)(497)
Dilutive potential common shares748 713 691 641 602 


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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)		1-Year Total
Shareholder
 Return
 Stock		3-Year Total
Shareholder
 Return
 Stock		Total
Performance
Based
Incentive
Compensation		Percent
of Total
Timothy G. Wallace2020$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 (5)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 Stach2020$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 $1,064,416 82.8 %
(1) Each Executive Officer has elected to take 100% of their salary and cash bonus in deferred stock with an 8-year cliff vesting.
(2) Other includes employer contributions to the executive officer's health savings account (HSA) and 401(k); moving and relocation expenses for Mr. Dupuy in 2019; and the value of the grant of 5,000 shares of restricted stock to Mr. Dupuy in each of the years 2019 and 2020.
(3) Alignment of interest stock grants per the Alignment Interest Program which is part of the Company's Incentive Plan.
(4) Mr. Dupuy joined the Company on May 1, 2019.
(5) Mr. Barnes resigned as Executive Vice President and Chief Operating Officer on December 31, 2020, transitioning to a part-time role with the Company, assisting with tenant relations and business development matters.
CEO Pay Ratios
CEO and
President		Median
Employee		Average
Employee		Lowest Paid
Employee
Cash$— $110,145 $145,208 $56,000 
Compensation Taken in Stock3,724,181 29,026 237,481 — 
Other Compensation13,382 2,620 4,828 — 
Total Compensation$3,737,563 $141,791 $387,517 $56,000 
CEO to Employee Ratio26.36 9.64 66.74 
Community Healthcare Trust
Page | 12
3Q 2021 | Supplemental Information
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DEBT SUMMARY
                                                        
As of September 30, 2021
Principal
Balance		Stated
Rate		Hedged
Rate
(in thousands)
Revolving credit facility$4,000 3.90 %— 
Term loan A-250,000 1.85 %4.18 %
Term loan A-375,000 2.05 %4.28 %
Term loan A-4125,000 2.05 %3.66 %
Total Credit Facility254,000 
Secured mortgage loan5,096 4.98 %— 
Debt259,096 
Deferred Financing Costs, net(1,536)
Debt, net$257,560 

chart-c9489c1aafaa43bbb3fa.jpg

Select CovenantsRequired3Q 2021
Leverage ratio≤ 60.0%30.5 %
Fixed charge coverage ratio≥ 1.50x6.14
Tangible net worth (in thousands)≥ $450,273$591,774
Secured indebtedness≤ 30.0%0.6 %
Minimum debt service coverage ratio≥ 2.07.05

Community Healthcare Trust
Page | 13
3Q 2021 Supplemental Information
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2021 PROPERTY ACQUISITIONS
                                                         
PropertyMarketProperty
Type		Date
Acquired		% Leased at Acquisition
Purchase
 Price
(in thousands)
Square Feet
Baylor Scott & White - Brenham ClinicBrenham, TXPC01/19/21100.0 %$5,029 37,354 
Carilion ClinicLexington, VAPC01/25/21100.0 %3,101 15,820 
Assurance HealthToledo, OHBSF02/05/21100.0 %4,825 13,290 
Assurance HealthHudson, OHBSF02/05/21100.0 %4,825 13,290 
Mercy Rehabilitation HospitalOklahoma City, OKIRF03/01/21100.0 %21,000 39,637 
Texas Rehabilitation Hospital of Ft WorthKeller, TXIRF03/01/21100.0 %21,000 39,761 
Anderson Ferry PlazaCincinnati, OHMOB04/14/2187.2 %4,167 43,599 
Greentree Primary CarePittsburgh, PAMOB06/10/2192.7 %5,347 34,077 
Gessner Road Medical Office BuildingHouston, TXMOB07/21/21100.0 %3,737 14,360 
Waters Edge MedicalBelcamp, MDMOB08/31/21100.0 %5,538 23,388 
98.8 %$78,569 274,576 
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Page | 14
3Q 2021 Supplemental Information
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PORTFOLIO DIVERSIFICATION
                                                        chart-4efcf63aadf0423ea15a.jpg
Property Type Annualized Rent (%)
Medical Office Building (MOB)29.7 %
Acute Inpatient Behavioral (AIB)17.4 %
Inpatient Rehabilitation Facilities (IRF)17.1 %
Specialty Centers (SC)13.4 %
Physician Clinics (PC)10.2 %
Surgical Centers and Hospitals (SCH)6.0 %
Behavioral Specialty Facilities (BSF)4.3 %
Long-term Acute Care Hospitals (LTACH)1.9 %
Total100.0 %


chart-663cce5aaa69407784aa.jpg
StateAnnualized
Rent (%)
Texas (TX)17.0 %
Illinois (IL)13.3 %
Ohio (OH)9.3 %
Florida (FL)7.4 %
Massachusetts (MA)4.5 %
Pennsylvania (PA)4.4 %
West Virginia (WV)4.3 %
All Others (Less than 4%)39.8 %
Total100.0 %


chart-88ab6b583f0a4308acaa.jpg
TenantAnnualized
Rent (%)
US Healthvest10.0 %
Everest Rehabilitation (Everest)8.4 %
Genesis Care (Genesis)4.4 %
Summit Behavioral Healthcare (Summit)4.0 %
All Others (Less than 4%)73.2 %
Total100.0 %
            

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3Q 2021 Supplemental Information
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LEASE EXPIRATIONS
                                                        chart-4f2c7ccf94334e18b53a.jpg
Total Leased Sq. Ft.Annualized Rent
YearNumber of
Leases Expiring		AmountPercent (%)
Amount ($)
(thousands)
Percent (%)
20218 25,294 0.9 %$525 0.7 %
202246 231,522 7.8 %5,083 6.6 %
202353 309,387 10.4 %6,310 8.3 %
202433 221,323 7.4 %4,913 6.4 %
202535 320,226 10.8 %8,195 10.7 %
202628 282,558 9.5 %6,285 8.2 %
20275 15,382 0.5 %408 0.5 %
202810 155,410 5.2 %2,848 3.7 %
202913 177,744 6.0 %5,321 7.0 %
203014 172,667 5.8 %3,201 4.2 %
Thereafter35 1,021,874 34.4 %32,669 42.7 %
Month-to-Month11 38,523 1.3 %710 1.0 %
Totals291 2,971,910 100.0 %$76,468 100.0 %
Total portfolio was approximately 89.3% leased in the aggregate at September 30, 2021 with lease expirations ranging from 2021 through 2039.

Community Healthcare Trust
Page | 16
3Q 2021 Supplemental Information
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PROPERTY LOCATIONS
                                                                            
Approximately 51% of our property revenues are in MSAs with populations over 1,000,000 and approximately 91% are in MSAs with populations over 100,000.
Property NameProperty
 Type		Area% of
Square
 Feet		Annualized
 Rent ($000's) 		% of Annualized
 Rent		PopulationMSA/MISARank
Future Diagnostics GroupSC8,876 0.27%$383.2 0.50%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
Gurnee Medical Office BuildingMOB22,943 0.69%$130.3 0.17%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
Joliet Oncology-Hematology AssociatesPC7,905 0.24%$357.5 0.47%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
Morris Cancer CenterMOB18,470 0.55%$593.0 0.78%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
Center for Reconstructive Surgery - Oak LawnMOB33,356 1.00%$397.2 0.52%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
PresencePC14,863 0.45%$334.9 0.44%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
Presence Regional Cancer CenterSC44,888 1.35%$1,410.4 1.85%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
Skin MDPC13,565 0.41%$487.1 0.64%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
Chicago Behavioral HospitalAIB85,000 2.55%$2,097.8 2.75%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
US HealthVest - LakeAIB83,658 2.51%$2,835.0 3.71%9,458,539Chicago-Naperville-Elgin, IL-IN-WI3
Texas Rehabilitation Hospital of Fort Worth, LLCIRF39,761 1.19%$1,911.0 2.50%7,573,136Dallas-Fort Worth-Arlington, TX4
Bayside Medical CenterMOB50,593 1.52%$985.1 1.29%7,066,141Houston-The Woodlands-Sugar Land, TX5
Clear Lake Institute for RehabilitationIRF55,646 1.67%$2,772.8 3.63%7,066,141Houston-The Woodlands-Sugar Land, TX5
Northwest Surgery CenterSCH11,200 0.34%$— —%7,066,141Houston-The Woodlands-Sugar Land, TX5
Gessner Road MOBMOB14,360 0.43%$345.7 0.45%7,066,141Houston-The Woodlands-Sugar Land, TX5
Haddon Hill Professional CenterMOB24,567 0.74%$278.5 0.37%6,102,434Philadelphia-Camden-Wilmington, PA-NJ-DE-MD8
Hopebridge - WestlakeBSF15,057 0.45%$223.4 0.29%6,102,434Philadelphia-Camden-Wilmington, PA-NJ-DE-MD8
Continuum Wellness CenterMOB8,227 0.25%$154.5 0.20%4,948,203Phoenix-Mesa-Chandler, AZ10
Desert Endoscopy CenterSCH11,722 0.35%$257.2 0.34%4,948,203Phoenix-Mesa-Chandler, AZ10
Mountain View Surgery CenterSCH14,046 0.42%$323.1 0.42%4,948,203Phoenix-Mesa-Chandler, AZ10
Associated Surgical Center of DearbornSCH12,400 0.37%$392.7 0.51%4,319,629Detroit-Warren-Dearborn, MI14
Berry Surgical CenterSCH27,217 0.82%$591.7 0.78%4,319,629Detroit-Warren-Dearborn, MI14
Smokey Point Behavioral HospitalAIB70,100 2.10%$2,691.5 3.52%3,979,845Seattle-Tacoma-Bellevue, WA15
Sanderling DialysisSC11,300 0.34%$390.8 0.51%3,338,330San Diego-Chula Vista-Carlsbad, CA17
Bay Area Physicians Surgery CenterMOB18,708 0.56%$738.4 0.97%3,194,831Tampa-St. Petersburg-Clearwater, FL18
Liberty DialysisSC8,450 0.25%$260.1 0.34%2,967,239Denver-Aurora-Lakewood, CO19
Eyecare PartnersPC6,487 0.19%$126.4 0.17%2,803,228St. Louis, MO-IL20
Eyecare PartnersPC5,560 0.17%$41.2 0.05%2,803,228St. Louis, MO-IL20
Eyecare PartnersSCH16,608 0.50%$282.3 0.37%2,803,228St. Louis, MO-IL20
Eyecare PartnersPC6,311 0.19%$45.0 0.06%2,803,228St. Louis, MO-IL20
Righttime Medical CareSC6,236 0.19%$297.1 0.39%2,800,053Baltimore-Columbia-Towson, MD21
Waters Edge MedicalMOB23,388 0.70%$499.3 0.65%2,800,053Baltimore-Columbia-Towson, MD21
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Property NameProperty
 Type		Area% of
Square
 Feet		Annualized
 Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Bassin Center For Plastic-Surgery-VillagesPC2,894 0.09%$162.0 0.21%2,608,147Orlando-Kissimmee-Sanford, FL23
Bassin Center For Plastic Surgery-OrlandoPC2,420 0.07%$135.4 0.18%2,608,147Orlando-Kissimmee-Sanford, FL23
Kissimmee Physicians ClinicPC4,902 0.15%$104.0 0.14%2,608,147Orlando-Kissimmee-Sanford, FL23
Orthopaedic Associates of OsceolaPC15,167 0.46%$343.8 0.45%2,608,147Orlando-Kissimmee-Sanford, FL23
Medical Village at WintergardenMOB21,648 0.65%$566.9 0.74%2,608,147Orlando-Kissimmee-Sanford, FL23
Baptist HealthPC13,500 0.41%$379.6 0.50%2,550,960San Antonio-New Braunfels, TX24
San Antonio Head & Neck Surgical AssociatesPC6,500 0.20%$180.6 0.24%2,550,960San Antonio-New Braunfels, TX24
Butler Medical CenterMOB10,116 0.30%$265.3 0.35%2,317,600Pittsburgh, PA27
Forefront Dermatology BuildingMOB15,650 0.47%$322.4 0.42%2,317,600Pittsburgh, PA27
Greentree Primary CareMOB34,077 1.02%$879.6 1.15%2,317,600Pittsburgh, PA27
Vascular Access Centers of Southern NevadaSC4,800 0.14%$— —%2,266,715Las Vegas-Henderson-Paradise, NV28
Assurance Health SystemBSF14,381 0.43%$523.5 0.69%2,221,208Cincinnati, OH-KY-IN30
Cavalier Medical & Dialysis CenterMOB18,970 0.57%$48.8 0.06%2,221,208Cincinnati, OH-KY-IN30
51 Cavalier BlvdMOB18,016 0.54%$175.5 0.23%2,221,208Cincinnati, OH-KY-IN30
Davita Commercial WaySC4,980 0.15%$109.2 0.14%2,221,208Cincinnati, OH-KY-IN30
Fresenius Florence Dialysis CenterMOB17,845 0.54%$295.5 0.39%2,221,208Cincinnati, OH-KY-IN30
Anderson Ferry PlazaMOB43,599 1.31%$453.6 0.59%2,221,208Cincinnati, OH-KY-IN30
Prairie Star Medical Facility IMOB24,724 0.74%$882.7 1.16%2,157,990Kansas City, MO-KS31
Prairie Star Medical Facility IIMOB24,840 0.75%$97.2 0.13%2,157,990Kansas City, MO-KS31
Court Street Surgery CenterSCH7,787 0.23%$— —%2,122,271Columbus, OH32
Hopebridge - ColumbusBSF13,969 0.42%$168.8 0.22%2,122,271Columbus, OH32
Sedalia Medical CenterMOB20,019 0.60%$310.3 0.41%2,122,271Columbus, OH32
Assurance Health, LLCBSF10,200 0.31%$351.5 0.46%2,074,537Indianapolis-Carmel-Anderson, IN33
Assurance Health SystemBSF13,722 0.41%$467.3 0.61%2,074,537Indianapolis-Carmel-Anderson, IN33
Kindred Hospital Indianapolis NorthLTACH37,270 1.12%$1,476.9 1.93%2,074,537Indianapolis-Carmel-Anderson, IN33
Brook Park Medical BuildingMOB18,444 0.55%$366.8 0.48%2,048,449Cleveland-Elyria, OH34
Assurance - HudsonBSF13,290 0.40%$522.4 0.68%2,048,449Cleveland-Elyria, OH34
Rockside Medical CenterMOB55,013 1.65%$1,267.6 1.66%2,048,449Cleveland-Elyria, OH34
Virginia Orthopaedic & Spine SpecialistsPC8,445 0.25%$150.1 0.20%1,768,901Virginia Beach-Norfolk-Newport News, VA-NC37
Ortho Rhode Island - WarwickPC21,252 0.64%$574.4 0.75%1,624,578Providence-Warwick, RI-MA38
Genesis Care - WarwickSC10,236 0.31%$332.5 0.44%1,624,578Providence-Warwick, RI-MA38
Mercy Rehabilitation HospitalIRF39,637 1.19%$1,911.0 2.50%1,408,950Oklahoma City, OK41
Memphis CenterMOB11,669 0.35%$225.5 0.30%1,346,045Memphis, TN-MS-AR43
Sanderling DialysisSC10,133 0.30%$520.7 0.68%1,346,045Memphis, TN-MS-AR43
GlastonburyMOB50,519 1.52%$919.1 1.20%1,204,877Hartford-East Hartford-Middletown, CT48
Sterling Medical CenterMOB28,737 0.86%$334.4 0.44%1,127,983Buffalo-Cheektowaga, NY49
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Property NameProperty
 Type		Area% of
Square
 Feet		Annualized
 Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Gardendale MOBMOB12,956 0.39%$288.0 0.38%1,090,435Birmingham-Hoover, AL50
Genesis Care - SouthbridgeSC20,046 0.60%$821.6 1.08%947,404Worcester, MA-CT58
Worcester BehavioralAIB81,972 2.46%$2,611.9 3.42%947,404Worcester, MA-CT58
Los Alamos Professional PlazaMOB42,162 1.27%$469.3 0.62%868,707McAllen-Edinburg-Mission, TX65
Cardiology Associates of Greater WaterburyPC16,793 0.50%$310.7 0.41%854,757New Haven-Milford, CT67
Columbia Gastroenterology Surgery CenterMOB17,016 0.51%$301.6 0.40%838,433Columbia, SC71
Davita Turner RoadSC18,125 0.54%$385.8 0.51%807,611Dayton-Kettering, OH73
Davita Springboro PikeSC10,510 0.32%$219.3 0.29%807,611Dayton-Kettering, OH73
Davita Business Center CourtSC13,048 0.39%$267.2 0.35%807,611Dayton-Kettering, OH73
Genesis Care - Bonita SpringsSC4,445 0.13%$244.1 0.32%770,577Cape Coral-Fort Myers, FL76
Genesis Care - Fort MyersSC46,356 1.39%$797.4 1.04%770,577Cape Coral-Fort Myers, FL76
Parkway Professional PlazaMOB40,036 1.20%$875.0 1.15%724,777Lakeland-Winter Haven, FL81
Novus ClinicSCH14,315 0.43%$291.9 0.38%703,479Akron, Oh82
UH Walden Health CenterPC11,000 0.33%$320.5 0.42%703,479Akron, Oh82
Daytona Medical OfficeMOB20,193 0.61%$276.2 0.36%668,365Deltona-Daytona Beach-Ormond Beach, FL88
Debary Professional PlazaMOB23,019 0.69%$152.8 0.20%668,365Deltona-Daytona Beach-Ormond Beach, FL88
UW Health Clinic- PortagePC14,000 0.42%$312.4 0.41%664,865Madison, WI89
Perrysburg Medical Arts BuildingMOB25,789 0.77%$387.1 0.51%641,816Toledo, OH93
St. Vincent Mercy Medical Center, Inc.PC23,368 0.70%$307.5 0.40%641,816Toledo, OH93
Assurance - ToledoBSF13,290 0.40%$490.9 0.64%641,816Toledo, OH93
Cypress Medical CenterMOB39,746 1.19%$293.5 0.38%640,218Wichita, KS94
Family Medicine EastPC16,581 0.50%$437.5 0.57%640,218Wichita, KS94
Grene Vision CenterPC11,891 0.36%$315.9 0.41%640,218Wichita, KS94
Bassin Center For Plastic Surgery-MelbournePC5,228 0.16%$292.6 0.38%601,942Palm Bay-Melbourne-Titusville, FL96
Penn State Health - Camp HillSC8,400 0.25%$168.0 0.22%577,941Harrisburg-Carlisle, PA98
Penn State Health - HarrisburgSC10,000 0.30%$200.0 0.26%577,941Harrisburg-Carlisle, PA98
Eynon Surgery CenterSCH6,500 0.20%$175.7 0.23%553,885Scranton--Wilkes-Barre, PA101
Riverview Medical CenterMOB26,199 0.79%$434.3 0.57%553,885Scranton--Wilkes-Barre, PA101
Manteca Medical Group BuildingPC10,564 0.32%$304.3 0.40%550,660Modesto, CA102
Grandview PlazaMOB20,000 0.60%$297.2 0.39%545,724Lancaster, PA104
Pinnacle HealthPC10,753 0.32%$236.5 0.31%545,724Lancaster, PA104
Everest Rehabilitation HospitalIRF38,817 1.17%$2,131.8 2.79%534,904Fayetteville-Springdale-Rogers, AR107
Treasure Coast Medical PavilionMOB57,254 1.72%$726.5 0.95%489,297Port St. Lucie, FL113
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Property NameProperty
 Type		Area% of
Square
 Feet		Annualized
 Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
AMG Specialty Hospital - LafayetteMOB29,062 0.87%$— —%489,207Lafayette, LA114
Genesis Care - AshevilleSC10,850 0.33%$194.8 0.26%462,680Asheville, NC119
Genesis Care - WeavervilleSC10,696 0.32%$385.5 0.51%462,680Asheville, NC119
Everest Rehabilitation HospitalIRF38,817 1.17%$2,138.4 2.80% 460,303 Killeen-Temple, TX120
Martin Foot & Ankle ClinicPC27,100 0.81%$398.9 0.52% 449,058 York-Hanover, PA121
Affinity Health CenterMOB47,366 1.42%$506.7 0.66% 397,520 Canton-Massillon, OH136
Prattville Town Center Medical Office BldgMOB13,319 0.40%$380.4 0.50% 373,290 Montgomery, AL145
Wellmont Bristol Urgent CareSC4,548 0.14%$75.0 0.10% 307,202 Kingsport-Bristol, TN-VA165
Bristol Pediatric AssociatesMOB10,975 0.33%$76.0 0.10% 307,202 Kingsport-Bristol, TN-VA165
Everest Rehabilitation HospitalIRF38,817 1.17%$2,181.1 2.86% 286,657 Longview, TX172
Bluewater Orthopedics CenterMOB10,255 0.31%$212.9 0.28% 284,809 Crestview-Fort Walton Beach-Destin, FL173
Londonderry CentreMOB20,944 0.63%$384.0 0.50% 273,920 Waco, TX177
Meridian Behavioral Health SystemsAIB132,430 3.98%$3,075.3 4.03% 257,074 Charleston, WV189
Gulf Coast Cancer Centers-FoleySC6,146 0.18%$164.6 0.22%223,234Daphne-Fairhope-Foley, AL203
Gulf Coast Cancer Centers- Gulf ShoresSC6,398 0.19%$126.7 0.17%223,234Daphne-Fairhope-Foley, AL203
Monroe Surgical HospitalSCH58,121 1.75%$2,241.0 2.94%200,261Monroe, LA224
Tuscola Professional BuildingMOB25,500 0.77%$598.2 0.78%190,539Saginaw, MI228
Fresenius Ft. ValleySC4,920 0.15%$96.3 0.13%185,409Warner Robins, GA231
Genesis Care - ReddingSC12,206 0.37%$512.9 0.67%180,080Redding, CA237
KedplasmaSC12,870 0.39%$272.1 0.36%169,509Burlington, NC251
Decatur Morgan Hospital Medical Office BuildingMOB35,943 1.08%$583.1 0.76%152,603Decatur, AL273
Provena Medical CenterMOB53,653 1.61%$521.3 0.68%109,862Kankakee, IL344
Parkside Family & Davita ClinicsMOB15,637 0.47%$213.1 0.28%99,742Victoria, TX357
Fresenius Gallipolis Dialysis CenterSC15,110 0.45%$159.3 0.21%56,414Point Pleasant, WV-OH, PA#N/A
Davita Etowah Dialysis CenterSC4,720 0.14%$72.2 0.10%53,794Athens, TN#N/A
Fresenius Dialysis CenterMOB17,746 0.53%$347.8 0.46%50,113Corsicana, TX#N/A
Arkansas Valley Surgery CenterMOB10,853 0.33%$215.9 0.28%47,839Canon City, CO#N/A
Davita DialysisMOB12,545 0.38%$437.3 0.57%46,523Pahrump, NV#N/A
Wellmont Norton Urgent CareSC4,843 0.15%$60.0 0.08%41,364Big Stone Gap, VA#N/A
Wellmont Associates ComplexMOB32,757 0.98%$347.2 0.46%41,364Big Stone Gap, VA#N/A
Eyecare PartnersPC8,421 0.25%$122.1 0.16%37,205Centralia, IL#N/A
Gulf Coast Cancer Centers-BrewtonSC3,971 0.12%$106.4 0.14%36,633Atmore, AL#N/A
Baylor Scott & White ClinicPC37,354 1.12%$476.3 0.62%35,882Brenham, TX#N/A
Ottumwa Medical ClinicMOB68,598 2.06%$806.8 1.06%34,969Ottumwa, IA#N/A
Ottumwa Medical ClinicMOB6,850 0.21%$109.0 0.14%34,969Ottumwa, IA#N/A
Sanderling Dialysis CenterSC4,186 0.13%$278.1 0.36%27,812Crescent City, CA#N/A
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Property NameProperty
 Type		Area% of
Square
 Feet		Annualized
 Rent ($000's)		% of Annualized
 Rent		PopulationMSA/MISARank
Russellville Medical PlazaMOB29,129 0.87%$152.1 0.20%County: 31,362Rural - No CBSA#N/A
Genesis Care - AndalusiaSC10,373 0.31%$351.3 0.46%County: 37,049 Rural - No CBSA#N/A
Lexington Carilion ClinicPC15,820 0.48%$362.1 0.47%County: 22,573 Rural - No CBSA#N/A
Dahlonega Medical MallMOB22,663 0.68%$188.8 0.25%County: 33,610 Rural - No CBSA#N/A
Batesville Regional Medical CenterMOB9,263 0.28%$46.8 0.06%County: 34,192 Rural - No CBSA#N/A
Tri Lakes BehavioralBSF58,400 1.75%$527.0 0.69%County: 34,192 Rural - No CBSA#N/A
North Mississippi Health ServicesMOB17,629 0.53%$89.0 0.12% County: 35,252 Rural - No CBSA#N/A
North Mississippi Health ServicesMOB27,743 0.83%$140.1 0.18% County: 35,252 Rural - No CBSA#N/A
North Mississippi Health ServicesMOB18,074 0.54%$91.3 0.12% County: 35,252 Rural - No CBSA#N/A
North Mississippi Health ServicesMOB9,890 0.30%$50.0 0.07% County: 35,252 Rural - No CBSA#N/A
Genesis Care - PrincetonSC7,236 0.22%$173.3 0.23% County: 58,758 Rural - No CBSA#N/A
Sanderling Dialysis CenterSC5,217 0.16%$258.8 0.34% County: 13,279 Rural - No CBSA#N/A
North Mississippi Health ServicesMOB3,378 0.10%$17.1 0.02%County: 35,252 Rural - No CBSA#N/A
Rettig Family HealthcarePC12,000 0.36%$180.0 0.24%County: 23,437 Rural - No CBSA#N/A
Haleyville Physicians Professional BuildingMOB29,515 0.89%$154.1 0.20%County: 23,629 Rural - No CBSA#N/A
Wellmont Lebanon Urgent CareSC8,369 0.25%$102.5 0.13%County: 26,586 Rural - No CBSA#N/A
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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
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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 (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.

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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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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
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