Evercore ISI Trims Community Healthcare Trust (NYSE:CHCT) Target Price to $30.00

Community Healthcare Trust (NYSE:CHCT) had its target price cut by Evercore ISI from $32.00 to $30.00 in a research note released on Tuesday, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on CHCT. Truist Financial lowered their price target on Community Healthcare Trust from $36.00 to $35.00 and set a buy rating for the company in a report on Tuesday, January 16th. Piper Sandler lowered their target price on Community Healthcare Trust from $40.00 to $36.00 and set an overweight rating for the company in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $33.67.

Community Healthcare Trust Stock Performance

Shares of NYSE CHCT opened at $25.19 on Tuesday. The firm has a market capitalization of $697.37 million, a price-to-earnings ratio of 119.93, a PEG ratio of 1.32 and a beta of 0.65. The stock has a 50 day moving average price of $26.43 and a 200 day moving average price of $26.81. Community Healthcare Trust has a 52-week low of $24.50 and a 52-week high of $37.15.

Community Healthcare Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.458 per share. The ex-dividend date was Friday, February 16th. This represents a $1.83 dividend on an annualized basis and a yield of 7.27%. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.46. Community Healthcare Trust’s dividend payout ratio is currently 871.43%.

Institutional Trading of Community Healthcare Trust

A number of institutional investors have recently made changes to their positions in CHCT. Millennium Management LLC boosted its position in shares of Community Healthcare Trust by 134.2% in the 4th quarter. Millennium Management LLC now owns 714,109 shares of the real estate investment trust’s stock worth $25,565,000 after purchasing an additional 409,213 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Community Healthcare Trust in the 4th quarter worth $6,439,000. Palisade Capital Management LP boosted its position in shares of Community Healthcare Trust by 104.0% in the 4th quarter. Palisade Capital Management LP now owns 434,532 shares of the real estate investment trust’s stock worth $15,556,000 after purchasing an additional 221,499 shares in the last quarter. BlackRock Inc. boosted its position in shares of Community Healthcare Trust by 4.7% in the 2nd quarter. BlackRock Inc. now owns 4,862,191 shares of the real estate investment trust’s stock worth $160,550,000 after purchasing an additional 217,326 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Community Healthcare Trust in the 3rd quarter worth $5,598,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

About Community Healthcare Trust

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).