Community Healthcare Trust (NYSE:CHCT) Raised to Inline at Evercore ISI

Evercore ISI upgraded shares of Community Healthcare Trust (NYSE:CHCT) from an underperform rating to an inline rating in a research report sent to investors on Monday morning, Marketbeat.com reports. They currently have $18.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $21.00.

Several other research firms have also recently commented on CHCT. Piper Sandler cut their price target on Community Healthcare Trust from $21.00 to $18.00 and set a neutral rating on the stock in a research note on Monday, September 9th. StockNews.com lowered Community Healthcare Trust from a hold rating to a sell rating in a research report on Tuesday, August 20th. Truist Financial decreased their price target on shares of Community Healthcare Trust from $30.00 to $22.00 and set a buy rating for the company in a research report on Friday, August 30th. Finally, Robert W. Baird cut their price target on shares of Community Healthcare Trust from $29.00 to $25.00 and set a neutral rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Community Healthcare Trust currently has an average rating of Hold and an average target price of $20.75.

Community Healthcare Trust Price Performance

Community Healthcare Trust stock opened at $17.33 on Monday. Community Healthcare Trust has a 12-month low of $15.06 and a 12-month high of $32.24. The company has a market capitalization of $480.06 million, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69. The firm’s fifty day moving average price is $20.65 and its 200 day moving average price is $23.26.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.4625 dividend. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, August 9th. This represents a $1.85 annualized dividend and a dividend yield of 10.68%. Community Healthcare Trust’s dividend payout ratio (DPR) is presently 289.06%.

Insider Activity at Community Healthcare Trust

In other Community Healthcare Trust news, Director Robert Z. Hensley acquired 6,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $19.50 per share, with a total value of $126,750.00. Following the completion of the acquisition, the director now directly owns 70,670 shares in the company, valued at approximately $1,378,065. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Community Healthcare Trust news, Director Robert Z. Hensley purchased 6,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $19.50 per share, with a total value of $126,750.00. Following the acquisition, the director now owns 70,670 shares of the company’s stock, valued at approximately $1,378,065. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David H. Dupuy acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $19.48 per share, for a total transaction of $194,800.00. Following the purchase, the chief executive officer now owns 363,565 shares of the company’s stock, valued at $7,082,246.20. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Community Healthcare Trust by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,951,903 shares of the real estate investment trust’s stock valued at $78,373,000 after acquiring an additional 53,282 shares during the period. Systematic Financial Management LP boosted its stake in Community Healthcare Trust by 8.0% during the 2nd quarter. Systematic Financial Management LP now owns 749,243 shares of the real estate investment trust’s stock valued at $17,525,000 after purchasing an additional 55,558 shares during the period. Janus Henderson Group PLC grew its position in Community Healthcare Trust by 5,664.3% in the 1st quarter. Janus Henderson Group PLC now owns 590,442 shares of the real estate investment trust’s stock worth $15,676,000 after purchasing an additional 580,199 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of Community Healthcare Trust by 18.1% in the second quarter. Deprince Race & Zollo Inc. now owns 428,730 shares of the real estate investment trust’s stock valued at $10,028,000 after purchasing an additional 65,642 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Community Healthcare Trust by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 372,488 shares of the real estate investment trust’s stock worth $8,712,000 after buying an additional 6,836 shares during the period. 87.84% of the stock is currently owned by institutional investors.

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).