Community Healthcare Trust (NYSE:CHCT) Price Target Cut to $30.00 by Analysts at Evercore ISI

Community Healthcare Trust (NYSE:CHCT) had its price objective reduced by Evercore ISI from $32.00 to $30.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on the company. Truist Financial reduced their price target on Community Healthcare Trust from $36.00 to $35.00 and set a buy rating on the stock in a research report on Tuesday, January 16th. Piper Sandler reduced their price target on Community Healthcare Trust from $40.00 to $36.00 and set an overweight rating on the stock in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $33.67.

Community Healthcare Trust Stock Performance

Community Healthcare Trust stock opened at $24.73 on Tuesday. The stock’s 50 day moving average price is $26.43 and its 200 day moving average price is $26.83. The firm has a market capitalization of $684.77 million, a PE ratio of 117.76, a price-to-earnings-growth ratio of 1.34 and a beta of 0.65. Community Healthcare Trust has a one year low of $24.50 and a one year high of $37.15.

Community Healthcare Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were given a $0.458 dividend. This represents a $1.83 dividend on an annualized basis and a dividend yield of 7.41%. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 16th. Community Healthcare Trust’s dividend payout ratio is presently 871.43%.

Hedge Funds Weigh In On Community Healthcare Trust

A number of institutional investors have recently made changes to their positions in CHCT. Bank of New York Mellon Corp raised its position in shares of Community Healthcare Trust by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 684,945 shares of the real estate investment trust’s stock valued at $28,911,000 after purchasing an additional 8,921 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Community Healthcare Trust by 19.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,822 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 796 shares in the last quarter. Bank of Montreal Can raised its position in shares of Community Healthcare Trust by 528.2% in the 1st quarter. Bank of Montreal Can now owns 54,637 shares of the real estate investment trust’s stock valued at $2,309,000 after purchasing an additional 45,939 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Community Healthcare Trust by 53.8% in the 1st quarter. MetLife Investment Management LLC now owns 12,350 shares of the real estate investment trust’s stock valued at $521,000 after purchasing an additional 4,320 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Community Healthcare Trust by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,245 shares of the real estate investment trust’s stock valued at $855,000 after purchasing an additional 2,496 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

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).