# Chiron Real Estate Inc. (XRN)

> Source: Nexqual · https://nexqual.com/XRN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Chiron Real Estate Inc. (XRN), nexqual.com/XRN" · informational, not investment advice.

**Price:** USD 30.16 (+4.61% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 28.83 · day 28.89–30.2 · 52w 28.63–38.65 · market cap $437M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $153M, net income $62.7M (40.9% margin) (SEC filings).
- Valuation: P/E 7.0x (avg 54.8x at the last 2 fiscal year-ends).
- Insider open-market purchases, last ~7 months: 16 Form 4 filings, $3.2M; 0 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y +0.7% vs S&P 500 +14.9%; 5Y -43.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD -0.7, revenue estimate $38.3M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $116M | $137M | $141M | $139M | $148M | $153M |
| Net income | $18.3M | $20.0M | $21.7M | $6.7M | -$6.9M | $62.7M |
| EPS (diluted) | $0.95 | $1.00 | $1.13 | $0.06 | -$0.91 | — |
| Net margin | 15.8% | 14.6% | 15.4% | 4.8% | -4.6% | 40.9% |
| Revenue growth | +23.7% | +18.4% | +2.7% | -1.6% | +6.8% | — |
| Cash + short-term investments | $7.2M | $4.0M | $1.3M | $6.8M | $9.1M | — |
| Total debt | — | — | — | $14.4M | $1.2M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 7.0x · P/S 2.9x · P/B 0.7x · Earnings yield 14.36% · Dividend yield (paid, TTM) 5.66%
P/E at fiscal year-ends: Dec 2024 76.1x, Dec 2023 33.5x.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
16 purchases, $3.2M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-14…2026-08-17 | Whitlock Matthew Fitzsimmons | Chief Investment Officer | 1,000 | $37K | 36.8 | Too little history (no open-market trades in 2023–2025) |
| 2026-08-12 | Roseth Aaron Robert | COO | 13,500 | $496K | 36.73 | Too little history (no open-market trades in 2023–2025) |
| 2026-08-11 | Decker Mark Okey Jr | CEO and President | 6,875 | $247K | 35.92 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-11 | Decker Mark Okey Jr | CEO and President | 550 | $20K | 36 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-11 | Fitzgerald Charles | Director | 14,000 | $501K | 35.78 | Too little history (no open-market trades in 2023–2025) |
| 2026-08-10 | Decker Mark Okey Jr | CEO and President | 8,000 | $287K | 35.88 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-10 | Fitzgerald Charles | Director | 27,600 | $992K | 35.94 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14 | Cypher Matthew | Director | 1,420 | $50K | 35.12 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-12 | Wittman Lori | Director | 2,940 | $100K | 33.85 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-12 | Marston Ronald | Director | 1,500 | $51K | 34.07 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-12 | Barber Jamie Allen | General Counsel and Secretary | 1,481 | $50K | 33.5 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-12 | Holley Danica | COO | 1,490 | $51K | 33.99 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-12 | Decker Mark Okey Jr | CEO and President | 5,000 | $170K | 33.94 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-11 | Kiernan Robert J | CFO and Treasurer | 3,000 | $100K | 33.49 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-11 | Crowley Paula | Director | 1,000 | $34K | 34 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-21 | Cantor Fitzgerald | Initiated | Overweight | $43 |
| 2026-07-13 | BMO Capital | Target raised | Market Perform | $39 → $40 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +0.7% | -43.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +0.7% | -10.8% |
| Volatility (annualized) | 28.9% | 30.3% |
| Max drawdown | -22.9% (Jul 2026→Oct 2026) | -56.2% (Jan 2022→Oct 2022) |

## Peers (REIT - Healthcare Facilities)
CHCT (Community Healthcare Trust Inco) USD 12.93 +2.29% · UHT (Universal Health Realty Income ) USD 37.81 +2.41% · MPT (Medical Properties Trust, Inc.) USD 2.71 +3.04% · DHC (Diversified Healthcare Trust) USD 7.87 +2.34% · LTC (LTC Properties, Inc.) USD 43.33 +2.70% · NHI (National Health Investors, Inc.) USD 66.96 +3.14%

## More
Full page: https://nexqual.com/XRN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in XRN's own 10-K filed 2026-03-02 (https://www.sec.gov/Archives/edgar/data/1533615/000110465926021956/xrn-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Heitman Global Real Estate REIT | "As the managing member, we source new investments and manage the day-to-day activities for the Heitman Joint Venture and earn fees as compensation for such services." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Healthcare Real Estate | $37.9M | 95.4% | -0.2% | $29.4M | 77.7% |
| Seniors Housing Operating Properties | $1.8M | 4.6% | — | $266,000 | 14.4% |
| Total revenue | $39.7M | 100% | — | $29.7M | 74.8% |

## Company outlook (8-K filed 2026-08-05)

- "It is expected that The Landing and Riviera will deliver a yield on cost of greater than 7% upon stabilization in the second half of 2028."
- "Hudson Active Adult Joint Venture: In May 2026, the Company paid $6.7 million to acquire a 49% equity interest in a 128-home Active Adult development in Hudson, Wisconsin (a suburb of Minneapolis, Minnesota), with completion expected in the fourth quarter of 2027."
- "The Company expects to realize a high-teens levered IRR on its investment, inclusive of a $0.1 million acquisition fee paid to Chiron at closing."
- "It is anticipated that this disposition will close in the fourth quarter. 3 Capital Markets During the quarter, the Company issued $100 million of its 6.00% Series C Convertible Perpetual Preferred stock (the “Series C Preferred Stock”) to an investor group led by Maewyn Capital Partners."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.70 | $-0.26 | +174.5% | $38.3M | 3 |
| Next quarter (ends 2026-12-31) | $-0.80 | $-0.41 | +92.8% | $38.2M | 3 |
| Current fiscal year (ends 2026-12-31) | $3.22 | $-1.50 | -314.7% | $153.5M | 3 |
| Next fiscal year (ends 2027-12-31) | $-3.18 | $-1.53 | +108.1% | $154.3M | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±10.7%; last 8 reports averaged ±4.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 47.0% | ±10.7% |
| 2026-12-18 | 56 | 42.3% | ±13.6% |
| 2027-01-15 | 84 | 44.8% | ±17.3% |
| 2027-04-16 | 175 | 37.4% | ±20.1% |