Community Healthcare Trust Incorporated (NYSE:CHCT) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in shares of Community Healthcare Trust Incorporated (NYSE:CHCT) by 0.7% in the 4th quarter, Holdings Channel reports. The fund owned 160,729 shares of the real estate investment trust’s stock after buying an additional 1,110 shares during the period. New York State Common Retirement Fund’s holdings in Community Healthcare Trust were worth $4,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Community Healthcare Trust by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,874,455 shares of the real estate investment trust’s stock valued at $85,371,000 after purchasing an additional 17,877 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Community Healthcare Trust by 0.8% in the third quarter. Kennedy Capital Management LLC now owns 515,038 shares of the real estate investment trust’s stock valued at $15,297,000 after purchasing an additional 4,265 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Community Healthcare Trust by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 194,316 shares of the real estate investment trust’s stock valued at $5,771,000 after purchasing an additional 6,488 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Community Healthcare Trust in the third quarter valued at about $5,598,000. Finally, Strs Ohio grew its holdings in shares of Community Healthcare Trust by 28.3% in the fourth quarter. Strs Ohio now owns 169,196 shares of the real estate investment trust’s stock valued at $4,507,000 after purchasing an additional 37,300 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial lowered their target price 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. Piper Sandler reissued a “neutral” rating and set a $26.00 price target (down previously from $36.00) on shares of Community Healthcare Trust in a research report on Wednesday, May 1st. Finally, Evercore ISI reduced their target price on shares of Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Community Healthcare Trust presently has a consensus rating of “Hold” and a consensus target price of $30.33.

Community Healthcare Trust Stock Performance

CHCT opened at $24.37 on Monday. Community Healthcare Trust Incorporated has a one year low of $24.21 and a one year high of $37.15. The company has a market cap of $675.05 million, a P/E ratio of 38.08, a PEG ratio of 1.39 and a beta of 0.64. The business’s 50-day simple moving average is $26.11 and its 200-day simple moving average is $26.56.

Community Healthcare Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 7.55%. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.46. Community Healthcare Trust’s dividend payout ratio is presently 285.94%.

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).