REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-08-10 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income jumped to $72.3M from $0.6M a year ago, almost entirely due to a $71.9M one-time gain on selling seven IRFs into a new joint venture, while underlying Core FFO fell 9% YoY to $15.1M.
Biggest Revenue Drivers
Healthcare Real Estate$37.9M-0.2% YoY
Growth in the existing portfolio was offset by the impact of dispositions, including seven IRFs sold into the IRF Joint Venture
SHOP$1.8M
New segment reflecting one month of resident fees from The Landing and The Riviera senior housing communities acquired June 1, 2026
Biggest Revenue Drivers
Total revenue: $39.7M+5% YoY
Healthcare Real Estate$37.9M-0.2% YoY
Growth in the existing portfolio was offset by the impact of dispositions, including seven IRFs sold into the IRF Joint Venture
Within Healthcare Real Estate
Rental revenue$37.1M-2% YoY
Decrease tied to 2026 and 2025 dispositions
Other income$846K
SHOP$1.8M
New segment reflecting one month of resident fees from The Landing and The Riviera senior housing communities acquired June 1, 2026
Largest Expense Items
Depreciation expense$11.4M+1% YoY
Driven by 2026 acquisitions, partially offset by dispositions
Operating expenses$10.0M+22% YoY
Primarily $1.6M of operating expenses from The Landing and The Riviera plus higher property-level costs in the existing portfolio
Interest expense$8.8M+10% YoY
Higher rates after expiration of Term Loan A swaps and replacement with new swaps at higher fixed SOFR rates, plus higher average borrowings
General and administrative$5.2M-13% YoY
Lower professional fees and non-cash LTIP compensation expense
Margins: Segment NOI was roughly flat at $29.7M vs $29.8M YoY, with the new SHOP segment contributing only $0.3M NOI; Adjusted EBITDAre was similarly flat ($26.1M vs $26.0M), while Core FFO per share fell to $1.04 from $1.14.
Watch Items from the Filing
Board cut the monthly common dividend from $0.25 to $0.16 per share in May 2026 to retain cash flow and fund the acquisition/SHOP ramp strategy.
Tenant White Rock Medical Center filed Chapter 11 bankruptcy; company has a $1.7M receivable, is funding property taxes and accepting reduced rent, though White Rock has indicated it plans to affirm the 12-year lease.
The $71.9M gain from selling seven IRFs (retaining only a 15% JV stake) drove nearly all of net income; Core FFO and FFO per share both declined YoY, showing underlying earnings power is weaker than headline net income suggests.
Properties managed by Greystone Communities represented 100% of SHOP segment revenue, a full concentration in a single third-party operator for the new growth segment.
Issued $100M of Series C Convertible Preferred Stock at a 6% rate that steps up to as high as 12% if not redeemed or converted, adding a rising-cost capital layer ahead of common equity.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About Chiron Real Estate Inc. (XRN): stock profile, AI score and financials
Chiron Real Estate Inc. (XRN) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores XRN at 62.0/100 on a composite quality score built from its SEC filings, placing it at rank #46 of 148 stocks — the top half of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), Chiron Real Estate Inc. reports quarterly revenue of $39.7M, net income of $72.3M, an operating margin of 74.8%. Top institutional holders of XRN by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, HEARTLAND ADVISORS, based on the most recent SEC filings. XRN trades on the NYSE exchange and files with the SEC under CIK 1533615. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate XRN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Chiron Real Estate Inc. directly from SEC EDGAR.