Community Healthcare Trust (NYSE:CHCT) Price Target Raised to $23.00 at Truist Financial

Community Healthcare Trust (NYSE:CHCT) had its target price increased by Truist Financial from $22.00 to $23.00 in a research note published on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on CHCT. Piper Sandler increased their price target on Community Healthcare Trust from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI raised shares of Community Healthcare Trust from an “underperform” rating to an “inline” rating and lowered their target price for the company from $21.00 to $18.00 in a research note on Monday, September 16th. Finally, StockNews.com raised shares of Community Healthcare Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Community Healthcare Trust presently has a consensus rating of “Hold” and a consensus target price of $21.25.

Community Healthcare Trust Stock Up 0.4 %

Shares of NYSE:CHCT traded up $0.08 on Wednesday, reaching $18.34. 11,292 shares of the company’s stock were exchanged, compared to its average volume of 274,840. The business’s 50-day moving average is $18.25 and its two-hundred day moving average is $19.91. Community Healthcare Trust has a fifty-two week low of $15.06 and a fifty-two week high of $28.10. The firm has a market capitalization of $517.96 million, a price-to-earnings ratio of -203.78, a PEG ratio of 1.24 and a beta of 0.68.

Community Healthcare Trust (NYSE:CHCT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.39). Community Healthcare Trust had a negative return on equity of 0.09% and a negative net margin of 0.39%. The company had revenue of $29.64 million during the quarter, compared to analyst estimates of $29.06 million. During the same period in the prior year, the business earned $0.63 earnings per share. Analysts predict that Community Healthcare Trust will post 1.84 earnings per share for the current fiscal year.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.465 per share. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. This represents a $1.86 dividend on an annualized basis and a yield of 10.14%. The ex-dividend date of this dividend was Friday, November 8th. Community Healthcare Trust’s payout ratio is presently -2,066.67%.

Institutional Trading of Community Healthcare Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in CHCT. Systematic Financial Management LP raised its position in shares of Community Healthcare Trust by 8.0% during the second quarter. Systematic Financial Management LP now owns 749,243 shares of the real estate investment trust’s stock worth $17,525,000 after purchasing an additional 55,558 shares during the period. Algert Global LLC increased its stake in Community Healthcare Trust by 534.3% in the 3rd quarter. Algert Global LLC now owns 113,440 shares of the real estate investment trust’s stock worth $2,059,000 after purchasing an additional 95,557 shares in the last quarter. LDR Capital Management LLC acquired a new stake in Community Healthcare Trust during the 3rd quarter worth about $630,000. Graham Capital Wealth Management LLC purchased a new stake in Community Healthcare Trust during the third quarter valued at about $2,650,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Community Healthcare Trust in the third quarter worth about $212,000. 87.84% of the stock is currently owned by institutional investors.

About Community Healthcare Trust

Community Healthcare Trust Incorporated (the Company”, we”, our”) was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers.