Brokerages Set Community Healthcare Trust Incorporated (NYSE:CHCT) Target Price at $37.50

Community Healthcare Trust Incorporated (NYSE:CHCTGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the four research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $37.50.

A number of equities analysts recently commented on CHCT shares. Truist Financial reduced their price objective on shares of Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Evercore ISI lowered shares of Community Healthcare Trust from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $36.00 to $32.00 in a report on Thursday, November 2nd. Finally, Piper Sandler dropped their price objective on shares of Community Healthcare Trust from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd.

Get Our Latest Stock Analysis on CHCT

Community Healthcare Trust Trading Up 4.5 %

Shares of NYSE:CHCT opened at $27.54 on Friday. The company has a market cap of $750.60 million, a price-to-earnings ratio of 125.16, a PEG ratio of 1.04 and a beta of 0.65. Community Healthcare Trust has a 12 month low of $24.50 and a 12 month high of $42.56. The company has a 50-day moving average price of $26.45 and a 200 day moving average price of $28.90.

Community Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Tuesday, February 20th will be given a dividend of $0.458 per share. This represents a $1.83 annualized dividend and a dividend yield of 6.65%. The ex-dividend date is Friday, February 16th. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.46. Community Healthcare Trust’s dividend payout ratio is 827.31%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its stake in Community Healthcare Trust by 134.2% during the 4th quarter. Millennium Management LLC now owns 714,109 shares of the real estate investment trust’s stock valued at $25,565,000 after acquiring an additional 409,213 shares in the last quarter. Palisade Capital Management LP raised its holdings 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 valued at $15,556,000 after purchasing an additional 221,499 shares in the last quarter. BlackRock Inc. lifted its position in Community Healthcare Trust by 4.7% in the second quarter. BlackRock Inc. now owns 4,862,191 shares of the real estate investment trust’s stock valued at $160,550,000 after acquiring an additional 217,326 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in Community Healthcare Trust in the third quarter valued at $5,598,000. Finally, State Street Corp increased its stake in Community Healthcare Trust by 11.6% in the first quarter. State Street Corp now owns 1,502,304 shares of the real estate investment trust’s stock valued at $63,412,000 after purchasing an additional 156,449 shares during the period. Institutional investors and hedge funds own 89.44% of the company’s stock.

About Community Healthcare Trust

(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 September 30, 2023, the Company had investments of approximately $1.05 billion in 191 real estate properties (including a portion of one property accounted for as a sales-type lease and one property classified as held for sale).

Further Reading

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