Community Healthcare Trust (NYSE:CHCT) Hits New 52-Week High – Here’s Why

Community Healthcare Trust Incorporated (NYSE:CHCT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $19.14 and last traded at $19.1650, with a volume of 102803 shares trading hands. The stock had previously closed at $18.82.

Analyst Ratings Changes

Several brokerages have issued reports on CHCT. Wall Street Zen lowered Community Healthcare Trust from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised Community Healthcare Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 12th. Truist Financial upped their target price on Community Healthcare Trust from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Piper Sandler raised their price target on Community Healthcare Trust from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Finally, Huntington assumed coverage on Community Healthcare Trust in a research report on Friday, July 17th. They set an “outperform” rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.25.

Community Healthcare Trust Price Performance

The business’s 50 day simple moving average is $17.89 and its 200 day simple moving average is $17.29. The company has a market capitalization of $543.63 million, a price-to-earnings ratio of 173.38 and a beta of 0.71.

Community Healthcare Trust (NYSE:CHCT) last announced its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Community Healthcare Trust had a return on equity of 1.41% and a net margin of 4.94%.The business had revenue of $31.52 million for the quarter, compared to analyst estimates of $31.03 million. As a group, analysts expect that Community Healthcare Trust Incorporated will post 1.9 EPS for the current fiscal year.

Community Healthcare Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 11th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 10.1%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.48. Community Healthcare Trust’s payout ratio is 1,745.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Community Healthcare Trust by 49.8% during the third quarter. JPMorgan Chase & Co. now owns 438,417 shares of the real estate investment trust’s stock worth $6,708,000 after purchasing an additional 145,834 shares during the last quarter. Kennedy Capital Management LLC grew its position in Community Healthcare Trust by 26.5% in the 4th quarter. Kennedy Capital Management LLC now owns 1,019,810 shares of the real estate investment trust’s stock valued at $16,745,000 after buying an additional 213,349 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in Community Healthcare Trust by 13.0% in the 4th quarter. Deprince Race & Zollo Inc. now owns 489,072 shares of the real estate investment trust’s stock valued at $8,031,000 after buying an additional 56,126 shares during the period. Systematic Financial Management LP increased its stake in Community Healthcare Trust by 3.6% in the 4th quarter. Systematic Financial Management LP now owns 1,123,736 shares of the real estate investment trust’s stock valued at $18,452,000 after buying an additional 38,532 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Community Healthcare Trust by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 389,811 shares of the real estate investment trust’s stock worth $6,194,000 after buying an additional 7,975 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

About Community Healthcare Trust

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.