Community Healthcare Trust (NYSE:CHCT) Shares Up 4.5%

Community Healthcare Trust Incorporated (NYSE:CHCTGet Free Report) rose 4.5% during mid-day trading on Tuesday . The stock traded as high as $23.53 and last traded at $23.47. Approximately 102,276 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 179,902 shares. The stock had previously closed at $22.45.

Analyst Ratings Changes

A number of research firms recently weighed in on CHCT. Piper Sandler reissued a “neutral” rating and set a $26.00 price target (down from $36.00) on shares of Community Healthcare Trust in a research report on Wednesday, May 1st. Evercore ISI dropped 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 research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Community Healthcare Trust currently has a consensus rating of “Hold” and an average target price of $30.33.

View Our Latest Stock Analysis on CHCT

Community Healthcare Trust Stock Performance

The stock has a 50 day moving average price of $24.41 and a 200 day moving average price of $25.84. The company has a market capitalization of $654.83 million, a P/E ratio of 36.94, a PEG ratio of 1.30 and a beta of 0.68.

Community Healthcare Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $0.46 dividend. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, May 9th. This represents a $1.84 annualized dividend and a yield of 7.78%. Community Healthcare Trust’s payout ratio is currently 287.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio lifted its stake in 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 last quarter. Citigroup Inc. lifted its position in shares of Community Healthcare Trust by 32.9% during the 3rd quarter. Citigroup Inc. now owns 38,144 shares of the real estate investment trust’s stock valued at $1,133,000 after buying an additional 9,442 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Community Healthcare Trust by 22.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,356 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 2,474 shares during the period. Vanguard Group Inc. increased its holdings in 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 worth $85,371,000 after acquiring an additional 17,877 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Community Healthcare Trust by 0.7% in the 4th quarter. New York State Common Retirement Fund now owns 160,729 shares of the real estate investment trust’s stock valued at $4,282,000 after acquiring an additional 1,110 shares during the period. 87.84% of the stock is owned by institutional investors.

About Community Healthcare Trust

(Get Free Report)

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).

Further Reading

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