Community Healthcare Trust (NYSE:CHCT) Given New $20.00 Price Target at Truist Financial

Community Healthcare Trust (NYSE:CHCT) had its target price hoisted by Truist Financial from $19.00 to $20.00 in a research note published on Tuesday morning, Marketbeat.com reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the company. Zacks Research upgraded Community Healthcare Trust from a “strong sell” rating to a “hold” rating in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of Community Healthcare Trust in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Community Healthcare Trust has an average rating of “Hold” and an average target price of $18.50.

Community Healthcare Trust Price Performance

Shares of NYSE CHCT opened at $17.19 on Tuesday. The company has a 50-day moving average price of $15.84 and a 200-day moving average price of $15.41. The stock has a market capitalization of $489.26 million, a P/E ratio of -42.96 and a beta of 0.75. Community Healthcare Trust has a 1 year low of $13.23 and a 1 year high of $20.87.

Community Healthcare Trust (NYSE:CHCT) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The company had revenue of $31.09 million for the quarter, compared to analyst estimates of $30.58 million. Community Healthcare Trust had a negative net margin of 6.27% and a negative return on equity of 1.66%. As a group, equities research analysts anticipate that Community Healthcare Trust will post 1.85 earnings per share for the current fiscal year.

Community Healthcare Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 11.1%. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, November 7th. Community Healthcare Trust’s dividend payout ratio is -475.00%.

Insider Transactions at Community Healthcare Trust

In other Community Healthcare Trust news, Director Cathrine Cotman acquired 4,000 shares of Community Healthcare Trust stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $14.66 per share, for a total transaction of $58,640.00. Following the purchase, the director directly owned 37,635 shares of the company’s stock, valued at $551,729.10. This trade represents a 11.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Community Healthcare Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHCT. Accel Wealth Management increased its stake in shares of Community Healthcare Trust by 20.0% in the fourth quarter. Accel Wealth Management now owns 12,000 shares of the real estate investment trust’s stock worth $197,000 after purchasing an additional 2,000 shares in the last quarter. TrueMark Investments LLC bought a new position in Community Healthcare Trust in the 4th quarter worth approximately $403,000. Albert D Mason Inc. grew its stake in Community Healthcare Trust by 2.7% in the 4th quarter. Albert D Mason Inc. now owns 25,893 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 671 shares in the last quarter. Pensionfund Sabic purchased a new position in Community Healthcare Trust in the 4th quarter valued at approximately $328,000. Finally, Pensionfund PDN bought a new stake in Community Healthcare Trust during the 4th quarter valued at $493,000. 87.84% of the stock is currently owned by institutional investors.

Community Healthcare Trust Company Profile

Community Healthcare Trust Incorporated (NYSE:CHCT) is a real estate investment trust that specializes in owning and leasing healthcare-related properties. The company’s portfolio is focused primarily on senior housing and care facilities, including skilled nursing centers, assisted living communities, memory care units, independent living apartments and continuing care retirement communities. Through long‐term, triple‐net leases, Community Healthcare Trust seeks stable, predictable cash flows by partnering with experienced operators that manage day-to-day resident care and property operations.

As of the latest reporting, Community Healthcare Trust’s holdings span multiple regions across the United States, with properties located in both urban and suburban markets.