Community Healthcare Trust (NYSE:CHCT) Given New $23.00 Price Target at Truist Financial

Community Healthcare Trust (NYSE:CHCT) had its target price increased by Truist Financial from $22.00 to $23.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other brokerages have also weighed in on CHCT. Evercore ISI upgraded Community Healthcare Trust from an “underperform” rating to an “inline” rating and cut their price objective for the company from $21.00 to $18.00 in a report on Monday, September 16th. StockNews.com raised shares of Community Healthcare Trust from a “sell” rating to a “hold” rating in a report on Monday, November 25th. Finally, Piper Sandler lifted their price objective on shares of Community Healthcare Trust from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.25.

Community Healthcare Trust Stock Up 1.2 %

Shares of NYSE CHCT opened at $18.32 on Wednesday. The firm’s 50-day simple moving average is $18.29 and its 200 day simple moving average is $19.90. The stock has a market cap of $517.39 million, a P/E ratio of -203.56, a P/E/G ratio of 1.24 and a beta of 0.68. Community Healthcare Trust has a fifty-two week low of $15.06 and a fifty-two week high of $28.10.

Community Healthcare Trust (NYSE:CHCT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.39). The firm had revenue of $29.64 million for the quarter, compared to the consensus estimate of $29.06 million. Community Healthcare Trust had a negative return on equity of 0.09% and a negative net margin of 0.39%. During the same period in the previous year, the firm earned $0.63 EPS. On average, sell-side analysts anticipate that Community Healthcare Trust will post 1.84 earnings per share for the current fiscal year.

Community Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.465 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.86 dividend on an annualized basis and a yield of 10.15%. 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 -2,066.67%.

Institutional Investors Weigh In On Community Healthcare Trust

Large investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its stake in Community Healthcare Trust by 11.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,323 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 840 shares during the period. SG Americas Securities LLC boosted its position in shares of Community Healthcare Trust by 6.8% in the third quarter. SG Americas Securities LLC now owns 9,770 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 618 shares during the period. Woodmont Investment Counsel LLC acquired a new stake in shares of Community Healthcare Trust in the third quarter worth $182,000. Point72 Asset Management L.P. purchased a new position in shares of Community Healthcare Trust during the third quarter valued at $198,000. Finally, Point72 DIFC Ltd acquired a new position in Community Healthcare Trust during the third quarter valued at $201,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

About Community Healthcare Trust

Community Healthcare Trust Incorporated (the Company”, we”, our”) was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers.