Analysts Set Community Healthcare Trust Incorporated (NYSE:CHCT) PT at $43.50

Posted by Defense World Staff on May 23rd, 2023

Shares of Community Healthcare Trust Incorporated (NYSE:CHCT – Get Rating) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $43.50.

Several research analysts have issued reports on the company. StockNews.com assumed coverage on Community Healthcare Trust in a research report on Thursday, May 18th. They set a “hold” rating for the company. Robert W. Baird boosted their price target on Community Healthcare Trust from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Finally, TheStreet lowered Community Healthcare Trust from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd.

Community Healthcare Trust Price Performance

Shares of NYSE:CHCT opened at $33.39 on Friday. Community Healthcare Trust has a 1 year low of $30.38 and a 1 year high of $43.88. The business has a 50 day simple moving average of $35.72 and a two-hundred day simple moving average of $37.02. The firm has a market capitalization of $878.16 million, a PE ratio of 115.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.74.

Community Healthcare Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be paid a $0.45 dividend. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a yield of 5.39%. Community Healthcare Trust’s payout ratio is 620.71%.

Insider Buying and Selling

In other Community Healthcare Trust news, Director Claire M. Gulmi purchased 2,042 shares of the stock in a transaction on Thursday, March 9th. The shares were bought at an average cost of $36.77 per share, with a total value of $75,084.34. Following the completion of the acquisition, the director now owns 26,140 shares in the company, valued at $961,167.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Community Healthcare Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Community Healthcare Trust by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 684,945 shares of the real estate investment trust’s stock valued at $28,911,000 after buying an additional 8,921 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Community Healthcare Trust by 19.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,822 shares of the real estate investment trust’s stock valued at $203,000 after acquiring an additional 796 shares during the period. Bank of Montreal Can raised its stake in shares of Community Healthcare Trust by 528.2% in the 1st quarter. Bank of Montreal Can now owns 54,637 shares of the real estate investment trust’s stock valued at $2,309,000 after acquiring an additional 45,939 shares during the period. MetLife Investment Management LLC raised its stake in shares of Community Healthcare Trust by 53.8% in the 1st quarter. MetLife Investment Management LLC now owns 12,350 shares of the real estate investment trust’s stock valued at $521,000 after acquiring an additional 4,320 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Community Healthcare Trust by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,245 shares of the real estate investment trust’s stock valued at $855,000 after purchasing an additional 2,496 shares in the last quarter. 87.68% of the stock is owned by hedge funds and other institutional investors.

About Community Healthcare Trust

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Community Healthcare Trust, Inc engages in the acquisition of real estate properties that are leased to hospitals, doctors, healthcare systems, and other healthcare services providers. It invests in healthcare properties including outpatient treatment and diagnostic facilities, urgent care centers, acute care hospitals, ambulatory surgery centers, assisted living and long-term care facilities, medical office buildings, clinics, specialty hospitals and treatment centers.