Community Healthcare Trust Incorporated (NYSE:CHCT – Get Free Report) dropped 5% during trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $27.02 and last traded at $27.24. Approximately 36,950 shares traded hands during trading, a decline of 67% from the average daily volume of 113,306 shares. The stock had previously closed at $28.67.
The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.52). Community Healthcare Trust had a net margin of 10.05% and a return on equity of 2.14%. The company had revenue of $28.74 million during the quarter, compared to analysts’ expectations of $28.77 million. During the same quarter last year, the business posted $0.63 earnings per share.
Community Healthcare Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be paid a $0.455 dividend. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 6.56%. The ex-dividend date is Wednesday, November 8th. Community Healthcare Trust’s dividend payout ratio (DPR) is 568.75%.
Wall Street Analysts Forecast Growth
Institutional Trading of Community Healthcare Trust
Several hedge funds have recently modified their holdings of CHCT. Millennium Management LLC lifted its holdings in shares of Community Healthcare Trust by 134.2% in the 4th quarter. Millennium Management LLC now owns 714,109 shares of the real estate investment trust’s stock valued at $25,565,000 after buying an additional 409,213 shares during the period. Palisade Capital Management LP raised its holdings in Community Healthcare Trust by 104.0% during the fourth quarter. Palisade Capital Management LP now owns 434,532 shares of the real estate investment trust’s stock worth $15,556,000 after purchasing an additional 221,499 shares during the last quarter. BlackRock Inc. raised its holdings in Community Healthcare Trust by 4.7% during the second quarter. BlackRock Inc. now owns 4,862,191 shares of the real estate investment trust’s stock worth $160,550,000 after purchasing an additional 217,326 shares during the last quarter. State Street Corp raised its holdings in Community Healthcare Trust by 11.6% during 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 purchasing an additional 156,449 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Community Healthcare Trust by 111.8% during the first quarter. JPMorgan Chase & Co. now owns 269,028 shares of the real estate investment trust’s stock worth $9,846,000 after purchasing an additional 141,996 shares during the last quarter. 89.44% of the stock is owned by institutional investors and hedge funds.
Community Healthcare Trust Stock Down 3.2 %
The firm has a fifty day moving average of $30.23 and a 200-day moving average of $33.06. The stock has a market capitalization of $737.28 million, a price-to-earnings ratio of 86.75, a PEG ratio of 1.12 and a beta of 0.75.
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 June 30, 2023, the Company had investments of approximately $991.2 million in 184 real estate properties (including a portion of one property accounted for as a sales-type lease and one property classified as held for sale).
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