PNC Financial Services Group Inc. Raises Stock Holdings in Community Healthcare Trust Incorporated (NYSE:CHCT)

PNC Financial Services Group Inc. boosted its stake in Community Healthcare Trust Incorporated (NYSE:CHCT) by 67.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,062 shares of the real estate investment trust’s stock after purchasing an additional 3,260 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Community Healthcare Trust were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC raised its position in shares of Community Healthcare Trust by 264.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,824 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,323 shares in the last quarter. Van ECK Associates Corp raised its position in Community Healthcare Trust by 25.1% during the fourth quarter. Van ECK Associates Corp now owns 3,740 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 751 shares in the last quarter. Connors Investor Services Inc. lifted its stake in Community Healthcare Trust by 22.7% during the third quarter. Connors Investor Services Inc. now owns 8,100 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 1,500 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Community Healthcare Trust in the 3rd quarter worth about $313,000. Finally, SG Americas Securities LLC increased its position in shares of Community Healthcare Trust by 8.9% during the 4th quarter. SG Americas Securities LLC now owns 12,418 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 1,011 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CHCT. Evercore ISI dropped their target price on Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 price objective (down previously from $36.00) on shares of Community Healthcare Trust in a research note on Wednesday, May 1st. Finally, Truist Financial decreased their target price on shares of Community Healthcare Trust from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, June 17th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Community Healthcare Trust presently has an average rating of “Hold” and a consensus price target of $28.67.

Community Healthcare Trust Stock Performance

NYSE:CHCT opened at $23.19 on Wednesday. Community Healthcare Trust Incorporated has a fifty-two week low of $22.03 and a fifty-two week high of $36.72. The firm has a market cap of $642.36 million, a PE ratio of 36.23, a price-to-earnings-growth ratio of 1.35 and a beta of 0.68. The business has a 50 day moving average price of $23.78 and a 200-day moving average price of $25.40.

Community Healthcare Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.84 annualized dividend and a yield of 7.93%. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.46. Community Healthcare Trust’s dividend payout ratio is presently 287.50%.

Community Healthcare Trust Company Profile

Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States. As of December 31, 2023, the Company had investments of approximately $1.1 billion in 193 real estate properties (including a portion of one property accounted for as a sales-type lease and two properties classified as held for sale).