Truist Financial Cuts Community Healthcare Trust (NYSE:CHCT) Price Target to $19.00

Community Healthcare Trust (NYSE:CHCT) had its target price cut by Truist Financial from $20.00 to $19.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on CHCT. Piper Sandler upped their target price on Community Healthcare Trust from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Wall Street Zen raised Community Healthcare Trust from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings upgraded shares of Community Healthcare Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 18th. Zacks Research lowered shares of Community Healthcare Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Evercore set a $17.00 target price on shares of Community Healthcare Trust in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Community Healthcare Trust presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Community Healthcare Trust Stock Down 0.9%

Shares of CHCT opened at $16.17 on Tuesday. The company has a market cap of $461.92 million, a price-to-earnings ratio of 231.00 and a beta of 0.74. Community Healthcare Trust has a twelve month low of $13.23 and a twelve month high of $18.90. The company has a 50 day moving average of $17.10 and a two-hundred day moving average of $15.78.

Community Healthcare Trust (NYSE:CHCT) last issued its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). Community Healthcare Trust had a return on equity of 1.16% and a net margin of 4.21%.The business had revenue of $30.95 million for the quarter, compared to analyst estimates of $31.33 million. On average, sell-side analysts expect that Community Healthcare Trust will post 1.85 EPS for the current year.

Community Healthcare Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were paid a $0.4775 dividend. The ex-dividend date was Monday, February 23rd. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 11.8%. Community Healthcare Trust’s dividend payout ratio (DPR) is 2,728.57%.

Institutional Investors Weigh In On Community Healthcare Trust

A number of large investors have recently bought and sold shares of the company. ProShare Advisors LLC purchased a new position in Community Healthcare Trust during the 2nd quarter worth approximately $6,094,000. Ameriprise Financial Inc. boosted its holdings in shares of Community Healthcare Trust by 667.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 379,665 shares of the real estate investment trust’s stock valued at $5,809,000 after acquiring an additional 330,203 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of Community Healthcare Trust by 66.0% in the third quarter. Kennedy Capital Management LLC now owns 806,461 shares of the real estate investment trust’s stock worth $12,339,000 after acquiring an additional 320,546 shares during the period. Invesco Ltd. raised its holdings in shares of Community Healthcare Trust by 38.9% during the third quarter. Invesco Ltd. now owns 1,060,213 shares of the real estate investment trust’s stock worth $16,221,000 after purchasing an additional 297,179 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Community Healthcare Trust by 400.9% during the second quarter. AQR Capital Management LLC now owns 218,822 shares of the real estate investment trust’s stock worth $3,639,000 after purchasing an additional 175,133 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Community Healthcare Trust Company Profile

Community Healthcare Trust Incorporated (NYSE:CHCT) is a real estate investment trust that specializes in owning and leasing healthcare-related properties. The company’s portfolio is focused primarily on senior housing and care facilities, including skilled nursing centers, assisted living communities, memory care units, independent living apartments and continuing care retirement communities. Through long‐term, triple‐net leases, Community Healthcare Trust seeks stable, predictable cash flows by partnering with experienced operators that manage day-to-day resident care and property operations.

As of the latest reporting, Community Healthcare Trust’s holdings span multiple regions across the United States, with properties located in both urban and suburban markets.