Piper Sandler Lowers Community Healthcare Trust (NYSE:CHCT) Price Target to $18.00

Community Healthcare Trust (NYSE:CHCT) had its price objective cut by Piper Sandler from $21.00 to $18.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on CHCT. StockNews.com downgraded Community Healthcare Trust from a hold rating to a sell rating in a research report on Tuesday, August 20th. Evercore ISI reduced their target price on shares of Community Healthcare Trust from $25.00 to $21.00 and set an underperform rating for the company in a report on Wednesday, August 28th. Truist Financial lowered their price target on shares of Community Healthcare Trust from $30.00 to $22.00 and set a buy rating on the stock in a research note on Friday, August 30th. Finally, Robert W. Baird reduced their price objective on shares of Community Healthcare Trust from $29.00 to $25.00 and set a neutral rating for the company in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Community Healthcare Trust has an average rating of Hold and a consensus price target of $21.50.

Community Healthcare Trust Price Performance

CHCT opened at $16.54 on Monday. The company has a market capitalization of $458.17 million, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.12 and a beta of 0.69. The business’s 50-day moving average price is $20.99 and its two-hundred day moving average price is $23.51. Community Healthcare Trust has a 1 year low of $15.06 and a 1 year high of $33.09.

Community Healthcare Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.85 dividend on an annualized basis and a yield of 11.19%. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.42. Community Healthcare Trust’s dividend payout ratio (DPR) is currently 289.06%.

Insider Transactions at Community Healthcare Trust

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

Institutional Investors Weigh In On Community Healthcare Trust

Institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new stake in Community Healthcare Trust during the 2nd quarter worth approximately $243,000. Systematic Financial Management LP increased its position 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 worth $17,525,000 after buying an additional 55,558 shares during the period. Creative Planning bought a new position in Community Healthcare Trust during the 2nd quarter worth $306,000. Algert Global LLC lifted its holdings in shares of Community Healthcare Trust by 131.6% during the second quarter. Algert Global LLC now owns 17,883 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 10,160 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Community Healthcare Trust by 65.5% in the second quarter. The Manufacturers Life Insurance Company now owns 17,582 shares of the real estate investment trust’s stock valued at $411,000 after acquiring an additional 6,957 shares during the period. Institutional investors own 87.84% of the company’s stock.

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).