Community Healthcare Trust (NYSE:CHCT) Price Target Raised to $23.00 at Truist Financial

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

CHCT has been the topic of a number of other research reports. Evercore ISI upgraded Community Healthcare Trust from an “underperform” rating to an “inline” rating and lowered their target price for the company from $21.00 to $18.00 in a research note on Monday, September 16th. Piper Sandler increased their price target 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. Finally, StockNews.com raised Community Healthcare Trust from a “sell” rating to a “hold” rating in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.25.

Community Healthcare Trust Stock Performance

NYSE:CHCT traded up $0.08 during trading hours on Wednesday, hitting $18.34. 11,292 shares of the company’s stock traded hands, compared to its average volume of 274,840. The stock’s fifty day moving average price is $18.25 and its two-hundred day moving average price is $19.91. The firm has a market cap of $517.96 million, a P/E ratio of -203.78, a P/E/G ratio of 1.24 and a beta of 0.68. Community Healthcare Trust has a twelve month low of $15.06 and a twelve month high of $28.10.

Community Healthcare Trust (NYSE:CHCT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.39). The business had revenue of $29.64 million during the quarter, compared to analyst estimates of $29.06 million. Community Healthcare Trust had a negative net margin of 0.39% and a negative return on equity of 0.09%. During the same quarter in the prior year, the company earned $0.63 EPS. On average, equities research analysts predict that Community Healthcare Trust will post 1.84 earnings per share for the current year.

Community Healthcare Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 10.14%. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, November 8th. Community Healthcare Trust’s dividend payout ratio is -2,066.67%.

Hedge Funds Weigh In On Community Healthcare Trust

A number of institutional investors have recently made changes to their positions in CHCT. Systematic Financial Management LP boosted its stake in Community Healthcare Trust by 8.0% during the 2nd quarter. Systematic Financial Management LP now owns 749,243 shares of the real estate investment trust’s stock valued at $17,525,000 after purchasing an additional 55,558 shares during the period. Algert Global LLC lifted its holdings in shares of Community Healthcare Trust by 534.3% during the third quarter. Algert Global LLC now owns 113,440 shares of the real estate investment trust’s stock worth $2,059,000 after buying an additional 95,557 shares during the last quarter. LDR Capital Management LLC acquired a new position in shares of Community Healthcare Trust during the third quarter worth approximately $630,000. Graham Capital Wealth Management LLC bought a new stake in shares of Community Healthcare Trust in the third quarter valued at approximately $2,650,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Community Healthcare Trust in the third quarter worth $212,000. 87.84% of the stock is currently owned by institutional investors.

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.