Community Healthcare Trust (NYSE:CHCT) Price Target Lowered to $22.00 at Truist Financial

Community Healthcare Trust (NYSE:CHCT) had its price target decreased by Truist Financial from $30.00 to $22.00 in a research note released on Friday, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on CHCT. StockNews.com downgraded Community Healthcare Trust from a hold rating to a sell rating in a report on Tuesday, August 20th. Robert W. Baird decreased their price target on Community Healthcare Trust from $29.00 to $25.00 and set a neutral rating for the company in a research note on Wednesday, July 31st. Finally, Evercore ISI decreased their price target on Community Healthcare Trust from $25.00 to $21.00 and set an underperform rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $23.50.

Community Healthcare Trust Price Performance

NYSE CHCT opened at $18.73 on Friday. The firm has a market cap of $518.84 million, a P/E ratio of 29.27, a P/E/G ratio of 1.24 and a beta of 0.68. Community Healthcare Trust has a one year low of $17.64 and a one year high of $33.59. The stock’s 50-day moving average is $22.11 and its 200-day moving average is $24.15.

Community Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 9.88%. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, August 9th. Community Healthcare Trust’s dividend payout ratio (DPR) is currently 289.06%.

Insider Transactions at Community Healthcare Trust

In other Community Healthcare Trust news, CEO David H. Dupuy bought 10,000 shares of Community Healthcare Trust stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $19.48 per share, for a total transaction of $194,800.00. Following the purchase, the chief executive officer now owns 363,565 shares of the company’s stock, valued at approximately $7,082,246.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Community Healthcare Trust news, CEO David H. Dupuy bought 10,000 shares of Community Healthcare Trust stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $19.48 per share, for a total transaction of $194,800.00. Following the purchase, the chief executive officer now owns 363,565 shares of the company’s stock, valued at approximately $7,082,246.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Z. Hensley bought 6,500 shares of Community Healthcare Trust stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $19.50 per share, with a total value of $126,750.00. Following the completion of the purchase, the director now directly owns 70,670 shares in the company, valued at approximately $1,378,065. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Community Healthcare Trust

Several hedge funds have recently added to or reduced their stakes in CHCT. Lazard Asset Management LLC acquired a new stake in Community Healthcare Trust during the 1st quarter worth approximately $34,000. Quadrant Capital Group LLC lifted its holdings in 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 worth $49,000 after purchasing an additional 1,323 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Community Healthcare Trust by 25.1% during the 4th quarter. Van ECK Associates Corp now owns 3,740 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 751 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Community Healthcare Trust by 65.7% during the 2nd quarter. SG Americas Securities LLC now owns 9,152 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 3,630 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Community Healthcare Trust by 67.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,062 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 3,260 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

About Community Healthcare Trust

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).