Community Healthcare Trust (NYSE:CHCT) Announces Quarterly Earnings Results, Misses Estimates By $0.92 EPS

Community Healthcare Trust (NYSE:CHCT) posted its quarterly earnings results on Tuesday. The real estate investment trust reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.92), Yahoo Finance reports. The business had revenue of $27.52 million for the quarter, compared to analyst estimates of $30.02 million. Community Healthcare Trust had a net margin of 15.91% and a return on equity of 3.57%. During the same period in the previous year, the firm posted $0.63 earnings per share.

Community Healthcare Trust Stock Performance

Shares of CHCT stock traded down $5.73 during trading on Wednesday, hitting $21.78. The company had a trading volume of 1,147,745 shares, compared to its average volume of 191,263. The firm has a market capitalization of $603.31 million, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.63 and a beta of 0.68. The stock’s 50-day moving average price is $24.02 and its 200 day moving average price is $25.25. Community Healthcare Trust has a one year low of $21.38 and a one year high of $36.71.

Community Healthcare Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 8.49%. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.42. Community Healthcare Trust’s payout ratio is currently 287.50%.

Analysts Set New Price Targets

A number of research analysts have commented on CHCT shares. Robert W. Baird lowered their target price on Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler reissued a “neutral” rating and set a $26.00 price objective (down previously from $36.00) on shares of Community Healthcare Trust in a research report on Wednesday, May 1st. Evercore ISI reaffirmed an “underperform” rating and issued a $25.00 price target (down previously from $27.00) on shares of Community Healthcare Trust in a report on Wednesday. Finally, Truist Financial dropped their target price on Community Healthcare Trust from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.50.

Community Healthcare Trust Company Profile

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).