State of New Jersey Common Pension Fund D Sells 72,129 Shares of Community Healthcare Trust Incorporated (NYSE:CHCT)

State of New Jersey Common Pension Fund D lessened its stake in shares of Community Healthcare Trust Incorporated (NYSE:CHCT) by 27.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,700 shares of the real estate investment trust’s stock after selling 72,129 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Community Healthcare Trust were worth $4,390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHCT. Lazard Asset Management LLC bought a new position in shares of Community Healthcare Trust during the 1st quarter worth about $34,000. Quadrant Capital Group LLC boosted 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 worth $49,000 after purchasing an additional 1,323 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of 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 in the last quarter. Finally, Hancock Whitney Corp bought a new position in shares of Community Healthcare Trust during the 1st quarter worth about $217,000. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at Community Healthcare Trust

In other news, CEO David H. Dupuy acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price 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 in the company, valued at approximately $7,082,246.20. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO David H. Dupuy acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price 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 in the company, valued at approximately $7,082,246.20. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Z. Hensley bought 6,500 shares of Community Healthcare Trust stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $19.50 per share, with a total value of $126,750.00. Following the completion of the transaction, the director now directly owns 70,670 shares in the company, valued at $1,378,065. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

CHCT has been the topic of a number of research analyst reports. Truist Financial cut their price objective on shares of Community Healthcare Trust from $30.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Evercore ISI upgraded shares of Community Healthcare Trust from an “underperform” rating to an “inline” rating and lowered their target price for the stock from $21.00 to $18.00 in a report on Monday. Piper Sandler lowered their target price on shares of Community Healthcare Trust from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Robert W. Baird lowered their target price on shares of Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Community Healthcare Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Community Healthcare Trust currently has a consensus rating of “Hold” and an average target price of $20.75.

Community Healthcare Trust Stock Performance

NYSE:CHCT opened at $17.82 on Tuesday. The firm has a market cap of $493.63 million, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69. Community Healthcare Trust Incorporated has a 52 week low of $15.06 and a 52 week high of $32.67. The firm has a 50-day moving average price of $20.77 and a two-hundred day moving average price of $23.33.

Community Healthcare Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.4625 dividend. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, August 9th. This represents a $1.85 annualized dividend and a yield of 10.38%. Community Healthcare Trust’s dividend payout ratio (DPR) is 289.06%.

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).