Community Healthcare Trust cuts dividend to fund growth initiatives

• Tenant rent increase: A geriatric behavioral hospital tenant paid $0.4 million in rent, up $0.1 million from Q1.
• Property sales and acquisitions: The company sold a property for $0.4 million and has $99 million in acquisitions under contract, with timing uncertain.
• Quarterly figures:
  • Q2 rental income: $30.97 million
  • Q2 net income: $2.36 million
  • Q2 basic EPS: $0.06

Community Healthcare Trust cut its quarterly dividend by 31% to help fund growth initiatives, including acquisitions, reinvestment and occupancy improvements.

The company said the reduced dividend will allow it to retain $25 million-$30 million for growth over the next two years.