Zacks Investment Research Upgrades Community Healthcare Trust (NYSE:CHCT) to “Hold”

Community Healthcare Trust (NYSE:CHCTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Community Healthcare Trust Incorporated is engaged in the acquisition of properties which are leased to hospitals, doctors, healthcare systems or other healthcare service providers. Community Healthcare Trust Incorporated is based in Franklin, United States. “

CHCT has been the subject of a number of other research reports. B. Riley dropped their price target on Community Healthcare Trust from $50.00 to $43.00 and set a “neutral” rating for the company in a research note on Tuesday, May 10th. StockNews.com initiated coverage on Community Healthcare Trust in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

Shares of CHCT traded down $0.96 during midday trading on Friday, reaching $36.02. 94,609 shares of the stock were exchanged, compared to its average volume of 91,838. Community Healthcare Trust has a twelve month low of $35.28 and a twelve month high of $51.53. The company has a market cap of $903.09 million, a P/E ratio of 41.88, a PEG ratio of 1.53 and a beta of 0.63. The stock’s 50 day simple moving average is $38.87 and its 200 day simple moving average is $42.24.

Community Healthcare Trust (NYSE:CHCTGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Community Healthcare Trust had a net margin of 24.50% and a return on equity of 4.90%. During the same period last year, the company posted $0.57 earnings per share. Research analysts expect that Community Healthcare Trust will post 2.44 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Community Healthcare Trust by 6.7% during the fourth quarter. BlackRock Inc. now owns 4,873,561 shares of the real estate investment trust’s stock worth $230,374,000 after purchasing an additional 306,364 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Community Healthcare Trust by 3.1% during the first quarter. Vanguard Group Inc. now owns 2,878,051 shares of the real estate investment trust’s stock worth $121,483,000 after purchasing an additional 85,404 shares during the last quarter. State Street Corp lifted its stake in shares of Community Healthcare Trust by 11.6% in the first quarter. State Street Corp now owns 1,502,304 shares of the real estate investment trust’s stock worth $63,412,000 after acquiring an additional 156,449 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of Community Healthcare Trust by 6.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,148,716 shares of the real estate investment trust’s stock worth $48,487,000 after acquiring an additional 72,367 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Community Healthcare Trust by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 684,945 shares of the real estate investment trust’s stock worth $28,911,000 after acquiring an additional 8,921 shares during the period. Institutional investors own 87.26% of the company’s stock.

Community Healthcare Trust Company Profile (Get Rating)

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. The Company had investments of approximately $667.3 million in 131 real estate properties as of September 30, 2020, located in 33 states, totaling approximately 2.8 million square feet.

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