Mirae Asset Global Investments Co. Ltd. Boosts Position in Community Healthcare Trust Incorporated (NYSE:CHCT)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Community Healthcare Trust Incorporated (NYSE:CHCT) by 22.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 13,356 shares of the real estate investment trust’s stock after buying an additional 2,474 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Community Healthcare Trust were worth $356,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MQS Management LLC purchased a new stake in shares of Community Healthcare Trust during the third quarter valued at approximately $204,000. Advisor Partners II LLC purchased a new stake in shares of Community Healthcare Trust during the third quarter valued at approximately $208,000. UniSuper Management Pty Ltd raised its stake in shares of Community Healthcare Trust by 8.7% during the third quarter. UniSuper Management Pty Ltd now owns 7,500 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 600 shares during the period. Connors Investor Services Inc. raised its stake in shares of Community Healthcare Trust by 22.7% during the third quarter. Connors Investor Services Inc. now owns 8,100 shares of the real estate investment trust’s stock valued at $241,000 after purchasing an additional 1,500 shares during the period. Finally, Inspire Investing LLC bought a new stake in shares of Community Healthcare Trust in the third quarter worth $312,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CHCT. Evercore ISI dropped their price target on shares of Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Truist Financial dropped their price target on shares of Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Finally, Piper Sandler dropped their price target on shares of Community Healthcare Trust from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.67.

Community Healthcare Trust Price Performance

Community Healthcare Trust stock opened at $26.33 on Friday. The company has a market cap of $729.08 million, a PE ratio of 125.38, a P/E/G ratio of 1.47 and a beta of 0.65. The company has a fifty day moving average price of $26.26 and a two-hundred day moving average price of $26.68. Community Healthcare Trust Incorporated has a 12 month low of $24.50 and a 12 month high of $37.15.

Community Healthcare Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date is Thursday, May 9th. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.46. Community Healthcare Trust’s payout ratio is currently 871.43%.

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).