Community Healthcare Trust (NYSE:CHCT) Sets New 12-Month Low at $30.16

Posted by on Sep 24th, 2023

Community Healthcare Trust Incorporated (NYSE:CHCT – Get Free Report)’s stock price hit a new 52-week low on Friday . The stock traded as low as $30.16 and last traded at $30.37, with a volume of 14249 shares. The stock had previously closed at $30.83.

Analysts Set New Price Targets

CHCT has been the subject of several recent analyst reports. StockNews.com started coverage on shares of Community Healthcare Trust in a research report on Thursday, August 17th. They set a “hold” rating for the company. Robert W. Baird downgraded shares of Community Healthcare Trust from an “outperform” rating to a “neutral” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Community Healthcare Trust currently has an average rating of “Moderate Buy” and an average price target of $43.50.

Read Our Latest Report on Community Healthcare Trust

Community Healthcare Trust Stock Performance

The stock has a market cap of $807.16 million, a PE ratio of 94.97, a P/E/G ratio of 1.22 and a beta of 0.73. The firm’s 50-day moving average is $33.76 and its 200 day moving average is $34.52.

Community Healthcare Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.4525 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.81 dividend on an annualized basis and a yield of 5.96%. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.42. Community Healthcare Trust’s dividend payout ratio is presently 565.64%.

Hedge Funds Weigh In On Community Healthcare Trust

A number of large investors have recently bought and sold shares of CHCT. Fifth Third Bancorp grew its stake in shares of Community Healthcare Trust by 452.5% during the 1st quarter. Fifth Third Bancorp now owns 674 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 552 shares during the period. Ahrens Investment Partners LLC purchased a new position in shares of Community Healthcare Trust during the 1st quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new position in shares of Community Healthcare Trust during the 2nd quarter worth about $27,000. CENTRAL TRUST Co lifted its holdings in shares of Community Healthcare Trust by 80.0% during the 2nd quarter. CENTRAL TRUST Co now owns 900 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 400 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Community Healthcare Trust by 196.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,794 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 1,189 shares during the period. Hedge funds and other institutional investors own 89.44% of the company’s stock.

Community Healthcare Trust Company Profile

(Get Free Report)

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 June 30, 2023, the Company had investments of approximately $991.2 million in 184 real estate properties (including a portion of one property accounted for as a sales-type lease and one property classified as held for sale).

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