Community Healthcare Trust Inc

Previous wording

During the first nine months of 2025, the Company acquired two real estate properties totaling approximately 75,000 square feet for an aggregate purchase price of approximately $36.0 million and cash consideration of approximately $36.1 million. The properties are each 100.0% leased with both lease expirations in 2040. These acquisitions were funded with net proceeds from the Company's Revolving Credit Facility and from asset sales. See Note 4 – Real Estate Acquisitions, Dispositions, and Assets Held for Sale to the Condensed Consolidated Financial Statements for more details on these acquisitions.

Current wording

During the first three months of 2026, the Company acquired one inpatient rehabilitation facility totaling approximately 37,000 square feet for an aggregate purchase price and cash consideration of approximately $28.5 million. The property was 100.0% leased with a lease expiration in 2044. The acquisition was funded with net proceeds from the Company's Revolving Credit Facility and from asset sales. See Note 4 – Real Estate Acquisition, Disposition, and Asset Held for Sale to the Condensed Consolidated Financial Statements for more details on this acquisition.

Previous wording

The Company has six properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $146.0 million. The Company anticipates closing on one of these properties in the fourth quarter of 2025, and the remaining properties throughout 2026 and 2027; 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 from operations, with net proceeds from equity or debt issuances, with the Company's Revolving Credit Facility, or from asset sales.

Current wording

The Company has four properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $99.0 million. The Company anticipates closing on these properties throughout 2026 and 2027; 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 from operations, with net proceeds from equity or debt issuances, with the Company's Revolving Credit Facility, or from asset sales.

Previous wording

As of September 30, 2025, our real estate portfolio was approximately 90.1% leased, excluding real estate properties held for sale. During the first nine months of 2025, we had expiring or terminated leases related to approximately 612,000 square feet, and we leased or renewed leases relating to approximately 562,000 square feet.

Current wording

As of March 31, 2026, our real estate portfolio was approximately 89.8% leased. During the first three months of 2026, we had expiring or terminated leases related to approximately 176,000 square feet, and we leased or renewed leases relating to approximately 136,000 square feet.

Previous wording

Certain of the Company's leases provide the lessee with a purchase option or a right of first refusal to purchase the leased property. The purchase option provisions generally allow the lessee to purchase the leased property at fair value or at an amount greater than the Company's gross investment in the leased property at the time of the purchase.

Current wording

Certain of the Company's leases provide the lessee with a purchase option or a right of first refusal to purchase the leased property. The purchase option provisions generally allow the lessee to purchase the leased property at fair value or at an amount greater than the Company's gross investment in the leased property at the time of the purchase. At March 31, 2026, the Company had an aggregate gross investment of approximately $42.0 million in 13 real estate properties with purchase options exercisable at March 31, 2026 that had not been exercised.

Previous wording

inflation could cause an increase in our expenses, capital expenditures, and cost of our variable-rate borrowings which could have a material impact on our financial position or results of operations. Many of our lease agreements contain provisions designed to mitigate the adverse impact of inflation, including annual rent increases based on

Current wording

Inflation has significantly increased during the past several years and a prolonged period of high and persistent inflation could cause an increase in our expenses, capital expenditures, and cost of our variable-rate borrowings which could have a material impact on our financial position or results of operations. Many of our lease agreements contain provisions designed to mitigate the adverse impact of inflation, including annual rent increases based on stated increases or CPI increases. In response to inflationary pressures, the Federal Reserve raised interest rates in 2022 and 2023, however, the Federal Reserve lowered interest rates in 2024 and 2025, and may provide additional rate changes during 2026. Higher interest rates may adversely impact real estate asset values and increase our interest expense on our variable-rate borrowings under our revolving credit facility.

Previous wording

The Company's results of operations for the three and nine months ended September 30, 2025 compared to the same period in 2024 were impacted by credit loss, rent and interest reserves related to a geriatric inpatient hospital tenant, real estate acquisitions, severance and transition charges related to an employee termination, interest expense, and gains/losses on sales and impairments of real estate properties held for sale, as well as other items discussed in more detail below.

Current wording

The Company's results of operations for the three months ended March 31, 2026 compared to the same period in 2025 were impacted by real estate acquisitions and dispositions, and interest expense, as well as other items discussed in more detail below.

Previous wording

Rental income increased approximately $1.5 million, or 5.0%, for the three months ended September 30, 2025 compared to the same period in 2024 due mainly to the following:

Current wording

Rental income increased approximately $1.5 million, or 5.2%, for the three months ended March 31, 2026 compared to the same period in 2025 due mainly to the following:

Previous wording

•Acquisitions of properties during 2024 and 2025 resulted in additional rental income of approximately $1.2 million in 2025 compared to 2024;

Current wording

•Acquisitions of properties during 2025 and 2026 resulted in an increase in rental income of approximately $2.1 million in 2026 compared to 2025;

Previous wording

•Properties sold during 2024 and 2025 resulted in a decrease in rental income of approximately $0.3 million; and

Current wording

•Dispositions of properties during 2025 and 2026 resulted in a decrease in rental income of approximately $0.6 million in 2026 compared to 2025;

Previous wording

•The Company amended an expired lease with a tenant which converted it from an operating lease to a sales-type lease, resulting in a decrease in rental revenue of approximately $0.1 million for the three months ended September 30, 2025 compared to the same period in 2024; and

Current wording

•In the second quarter of 2025, the Company extended a lease with a tenant upon its expiration which converted it from an operating lease to a sales-type lease, resulting in a decrease in rental revenue of approximately $0.1 million for the three months ended March 31, 2026 compared to the same period in 2025; and

Previous wording

•The remaining $0.2 million increase resulted from net leasing activities.

Current wording

•The remaining $0.1 million decrease resulted from net leasing activities.

Previous wording

Other operating interest decreased $1.3 million for the nine months ended September 30, 2025 compared to the same period in 2024 due mainly to the following:

Current wording

Other operating interest decreased approximately $0.1 million for the three months ended March 31, 2026 compared to the same period in 2025 due mainly to a loan maturity in 2025.

Previous wording

Property operating expenses increased approximately $0.3 million, or 1.5%, for the nine months ended September 30, 2025 compared to the same period in 2024, due mainly to:

Current wording

Property operating expenses increased approximately $0.3 million, or 4.5%, for the three months ended March 31, 2026 compared to the same period in 2025 due mainly to the following:

Previous wording

•A reduction of approximately $0.2 million due to properties sold during 2024 and 2025; and

Current wording

•A reduction of expenses totaling approximately $0.1 million due to properties sold during 2026 and 2025.

Previous wording

Depreciation and amortization expense remained fairly flat for the three months ended September 30, 2025 compared to the same period in 2024; however, depreciation and amortization expense was impacted by the following:

Current wording

Depreciation and amortization expense decreased by approximately $0.3 million, or 2.6%, for the three months ended March 31, 2026 compared to the same period in 2025 impacted by the following:

Previous wording

•Fully amortized real estate lease intangibles which generally have a shorter depreciable life than a building resulted in a decrease of approximately $1.5 million.

Current wording

•Fully amortized real estate lease intangibles which generally have a shorter depreciable life than a building resulted in a decrease of approximately $0.6 million;

Previous wording

•Depreciation and amortization on real estate sold or classified as held for sale during the three months ended September 30, 2025 resulted in a decrease of approximately $0.1 million.

Current wording

•Depreciation and amortization on real estate sold during 2026 and 2025 resulted in a decrease of approximately $0.3 million; offset partially by

Previous wording

•Depreciation and amortization on real estate acquired during 2024 and 2025 resulted in an increase of approximately $0.4 million;

Current wording

•Depreciation and amortization on real estate acquired during 2026 and 2025 resulted in an increase of approximately $0.4 million; and

Previous wording

•Depreciation on tenant and other capital improvements resulted in an increase of approximately $0.3 million; offset partially by

Current wording

•Depreciation on tenant and other capital improvements resulted in an increase of approximately $0.2 million.

Previous wording

Interest expense increased approximately $0.8 million, or 13.1%, for the three months ended September 30, 2025 compared to the same period in 2024 due mainly to increases in the weighted average balance and interest rates on the Credit Facility.

Current wording

Interest expense increased approximately $0.4 million, or 7.0%, for the three months ended March 31, 2026 compared to the same period in 2025 due mainly to an increase in the weighted average balance on the Credit Facility.

Previous wording

Management believes that net income, as defined by GAAP, is the most appropriate earnings measurement. However, management believes FFO, AFFO, FFO per share and AFFO per share provide an understanding of the operating performance of the Company’s properties without giving effect to certain significant non-cash items, primarily depreciation and amortization expense. Historical cost accounting for real estate assets in accordance with GAAP assumes that the value of real estate assets diminishes predictably over time. However, real estate values instead have historically risen or fallen with market conditions. The Company believes that by excluding the effect of depreciation, amortization, impairments and gains or losses from sales of real estate, losses and impairment of incidental assets, all of which are based on historical costs and which may be of limited relevance in evaluating current performance, FFO, AFFO, FFO per share and AFFO per share can facilitate comparisons of operating performance between periods. The table below reconciles net income (loss) to FFO and AFFO for the three and nine months ended September 30, 2025 compared to the same periods in 2024.

Current wording

GAAP assumes that the value of real estate assets diminishes predictably over time. However, real estate values instead have historically risen or fallen with market conditions. The Company believes that by excluding the effect of depreciation, amortization, impairments and gains or losses from sales of real estate, losses and impairment of incidental assets, all of which are based on historical costs and which may be of limited relevance in evaluating current performance, FFO, AFFO, FFO per share and AFFO per share can facilitate comparisons of operating performance between periods. The table below reconciles net income to FFO and AFFO for the three months ended March 31, 2026 compared to the same period in 2025.

Previous wording

The table below reconciles net income (loss) to NOI for the three and nine months ended September 30, 2025 compared to the same periods in 2024.

Current wording

The table below reconciles net income to NOI for the three months ended March 31, 2026 compared to the same period in 2025.

Previous wording

The table below reconciles net income (loss) to EBITDAre and Adjusted EBITDAre for the three and nine months ended September 30, 2025 compared to the same periods in 2024.

Current wording

The table below reconciles net income to EBITDAre and Adjusted EBITDAre for the three months ended March 31, 2026 compared to the same period in 2025.

Previous wording

The Company derives most of its revenues from its real estate properties, collecting rental income and operating expense reimbursements based on contractual arrangements with its tenants. These sources of revenue represent our primary source of liquidity to fund our dividends, general and administrative expenses, property operating expenses, interest expense on our Credit Facility and other expenses incurred related to managing our existing portfolio and investing in additional properties. To the extent additional resources are needed, the Company will fund its investment activity generally with net proceeds from equity or debt issuances, including our at-the-market equity offering program, either in the public or private markets, from our Credit Facility, or from asset sales.

Current wording

The Company derives most of its revenues from its real estate properties, collecting rental income and operating expense reimbursements based on contractual arrangements with its tenants. These sources of revenue represent our primary source of liquidity to fund our dividends, general and administrative expenses, property operating expenses, interest expense on our Credit Facility and other expenses incurred related to managing our existing portfolio and investing in existing or in additional properties. To the extent additional resources are needed, the Company will fund its investment activity generally with net proceeds from equity or debt issuances, including our at-the-market equity offering program, either in the public or private markets, from our Credit Facility, or from asset sales.

Previous wording

Cash flows provided by operating activities for the nine months ended September 30, 2025 and 2024 were approximately $40.9 million and $43.2 million, respectively. Cash flows provided by operating activities were generally provided by contractual rents and interest on our notes receivable, net of property operating expenses not reimbursed by the tenants, general and administrative expenses, and interest expense paid on our Credit Facility.

Current wording

Cash flows provided by operating activities for the three months ended March 31, 2026 and 2025 were approximately $13.7 million and $14.4 million, respectively. Cash flows provided by operating activities were generally provided by contractual rents, net of property operating expenses not reimbursed by the tenants, general and administrative expenses, and interest expense paid on our Credit Facility.

Previous wording

Cash flows used in investing activities for the nine months ended September 30, 2025 and 2024 were approximately $43.7 million and $83.2 million, respectively. During the nine months ended September 30, 2025, the Company invested in two properties for cash consideration of approximately $36.1 million, sold two properties for cash consideration totaling approximately $1.3 million, received payments on its notes totaling $5.1 million and funded capital expenditures and tenant improvements on its existing portfolio totaling approximately $14.0 million.

Current wording

Cash flows used in investing activities for the three months ended March 31, 2026 and 2025 were approximately $27.5 million and $12.6 million, respectively. During the three months ended March 31, 2026, the Company invested in one property for cash consideration of approximately $28.5 million, received cash consideration totaling approximately $5.9 million on dispositions, received payments on its notes totaling $0.2 million and funded capital expenditures and tenant improvements on its existing portfolio totaling approximately $5.0 million.

Previous wording

During the nine months ended September 30, 2024, the Company invested in four properties for an aggregate cash consideration of approximately $64.2 million, sold a property for cash consideration of approximately $1.0 million, funded amounts under its notes totaling approximately $2.9 million, received payments on its notes receivable totaling $2.4 million and funded capital expenditures and tenant improvements on its existing portfolio totaling approximately $19.5 million.

Current wording

During the three months ended March 31, 2025, the Company invested in one property for cash consideration of approximately $9.7 million (initially accounted for as a sale-leaseback financing transaction until the lease commenced during the second quarter of 2025), received payments on its notes receivable totaling $1.8 million and funded capital expenditures and tenant improvements on its existing portfolio totaling approximately $4.7 million.

Previous wording

Cash flows provided by financing activities for the nine months ended September 30, 2025 were approximately $1.8 million and cash flows provided by financing activities for the nine months ended September 30, 2024 were $38.2 million. During the nine months ended September 30, 2025, the Company borrowed $44.0 million under its Revolving Credit Facility and paid dividends totaling approximately $40.1 million. Also, upon the vesting of stock-based awards for certain employees, the Company withheld shares and paid taxes totaling approximately $1.8 million on behalf of employees.

Current wording

Cash flows provided by financing activities for the three months ended March 31, 2026 were approximately $13.0 million and cash flows used in financing activities for the three months ended March 31, 2025 were $3.9 million. During the three months ended March 31, 2026, the Company borrowed $27.0 million under its Revolving Credit Facility and paid dividends totaling approximately $13.7 million. Also, upon the vesting of stock-based awards for certain employees, the Company withheld shares and paid taxes totaling approximately $0.3 million on behalf of employees.

Previous wording

During the nine months ended September 30, 2024, the Company (i) borrowed a net amount of $75.0 million under its Revolving Credit Facility, (ii) repaid a mortgage note totaling $4.8 million, (iii) completed equity offerings under its at-the-market program, resulting in net proceeds, net of underwriters' discount and offering costs, of approximately $7.3 million, (iv) upon the vesting of stock-based awards for certain employees, withheld shares and paid taxes totaling approximately $0.8 million on behalf of employees, and (v) paid dividends totaling approximately $38.6 million.

Current wording

During the three months ended March 31, 2025, the Company borrowed a net amount of $10.0 million under its Revolving Credit Facility and paid dividends totaling approximately $13.3 million. Also, upon the vesting of stock-based awards for certain employees, withheld shares and paid taxes totaling approximately $0.4 million on behalf of employees.

Previous wording

The Company has six properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $146.0 million. The Company anticipates closing on one of these properties in the fourth quarter of 2025, and the remaining properties throughout 2026 and 2027; 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 from operations, with net proceeds from equity or debt issuances, with the Company's Revolving Credit Facility, or from asset sales.

Current wording

The Company has four properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $99.0 million. The Company anticipates closing on these properties throughout 2026 and 2027; 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 from operations, with net proceeds from equity or debt issuances, with the Company's Revolving Credit Facility, or from asset sales.

Previous wording

Subject to Company approval, we may fund or reimburse tenants for tenant improvements, which are allowed for in certain leases, of up to approximately $29.9 million as of September 30, 2025. At September 30, 2025, $7.7 million of this commitment relates primarily to three ongoing redevelopment projects on buildings with tenants backed by long-term leases.

Current wording

Subject to Company approval, we may fund or reimburse tenants for tenant improvements, which are allowed for in certain leases, of up to approximately $29.8 million as of March 31, 2026. At March 31, 2026, $4.6 million of this commitment relates primarily to two redevelopment projects on buildings with tenants backed by long-term leases.

Previous wording

The Company has also entered into contracts regarding certain capital expenditures with remaining commitments totaling approximately $3.0 million as of September 30, 2025. At September 30, 2025, $1.5 million of this commitment relates primarily to three redevelopment projects of buildings into different healthcare uses backed by long-term leases.

Current wording

The Company has also entered into contracts regarding certain capital expenditures with remaining commitments totaling approximately $4.0 million as of March 31, 2026. At March 31, 2026, $2.4 million of this commitment relates primarily to three redevelopment projects of buildings into different healthcare uses backed by long-term leases.

Previous wording

At September 30, 2025, the Company had $256.0 million outstanding on its Revolving Credit Facility with a maturity on October 16, 2029. In addition, the Company has $275.0 million outstanding in Term Loans with expirations beginning in 2028 through 2030. The Company has entered into interest rate swaps to fix the interest rates on $275.0 million of the Term Loans, with maturities matching the maturity dates of the notes, and $75.0 million of the Revolving Credit Facility, which will mature on March 29, 2026. See Note 5 – Debt, net to the Condensed Consolidated Financial Statements which provide more details on the Company's Credit Facility. At September 30, 2025, the Company had borrowing capacity remaining under the Revolving Credit Facility of approximately $144.0 million.

Current wording

At March 31, 2026, the Company had $285.0 million outstanding on its Revolving Credit Facility with a maturity on October 16, 2029. In addition, the Company has $275.0 million outstanding in Term Loans with expirations beginning in 2028 through 2030. The Company has entered into interest rate swaps to fix the interest rates on $275.0 million of the Term Loans, with maturities matching the maturity dates of the notes. The interest rate swaps that fixed the interest rates on $75.0 million of the Revolving Credit Facility matured on March 29, 2026. See Note 5 – Debt, net to the Condensed Consolidated Financial Statements which provide more details on the Company's Credit Facility. At March 31, 2026, the Company had borrowing capacity remaining under the Revolving Credit Facility of approximately $115.0 million.

Previous wording

At September 30, 2025, the Company was obligated, as the lessee, under four non-prepaid ground leases accounted for as operating leases with expiration dates, including renewal options, through 2076, and two non-prepaid ground leases accounted for as financing leases with expiration dates through 2109, including renewal options. Any rental increases related to the Company's ground leases are generally either stated or based on the Consumer Price Index. At September 30, 2025, the Company's aggregate obligation under these ground leases was approximately $8.6 million. See Note 3 – Real Estate Leases to the Condensed Consolidated Financial Statements.

Current wording

At March 31, 2026, the Company was obligated, as the lessee, under four non-prepaid ground leases accounted for as operating leases with expiration dates, including renewal options, through 2076, and two non-prepaid ground leases accounted for as financing leases with expiration dates through 2109, including renewal options. Any rental increases related to the Company's ground leases are generally either stated or based on the Consumer Price Index. At March 31, 2026, the Company's aggregate obligation under these ground leases was approximately $8.5 million, of which $0.1 million is due during the remainder of 2026 and $0.2 million is due in 2027. See Note 3 – Real Estate Leases to the Condensed Consolidated Financial Statements.

Previous wording

On October 23, 2025, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.4750 per share. The dividend is payable on November 21, 2025 to stockholders of record on November 7, 2025. This rate equates to an annualized dividend of $1.90 per share.

Current wording

On April 30, 2026, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.48 per share. The dividend is payable on May 22, 2026 to stockholders of record on May 11, 2026. This rate equates to an annualized dividend of $1.92 per share.