Truist Financial Raises Community Healthcare Trust (NYSE:CHCT) Price Target to $20.00

Community Healthcare Trust (NYSE:CHCT) had its price target lifted by Truist Financial from $19.00 to $20.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective would suggest a potential upside of 16.82% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Zacks Research raised shares of Community Healthcare Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of Community Healthcare Trust in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Community Healthcare Trust has a consensus rating of “Hold” and an average price target of $18.50.

Community Healthcare Trust Trading Down 0.2%

Shares of CHCT stock opened at $17.12 on Tuesday. Community Healthcare Trust has a 1-year low of $13.23 and a 1-year high of $20.87. The stock has a market cap of $487.41 million, a price-to-earnings ratio of -42.80 and a beta of 0.75. The stock has a 50-day moving average of $15.89 and a 200-day moving average of $15.42.

Community Healthcare Trust (NYSE:CHCT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Community Healthcare Trust had a negative return on equity of 1.66% and a negative net margin of 6.27%.The business had revenue of $31.09 million for the quarter, compared to analysts’ expectations of $30.58 million. Sell-side analysts forecast that Community Healthcare Trust will post 1.85 earnings per share for the current year.

Insider Activity

In other Community Healthcare Trust news, Director Cathrine Cotman bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average cost of $14.66 per share, with a total value of $58,640.00. Following the completion of the transaction, the director directly owned 37,635 shares in the company, valued at approximately $551,729.10. The trade was a 11.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 5.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Community Healthcare Trust by 111.9% in the third quarter. Versant Capital Management Inc now owns 2,138 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,129 shares during the period. BNP Paribas Financial Markets increased its holdings in Community Healthcare Trust by 143.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,886 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 3,470 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Community Healthcare Trust in the 3rd quarter worth about $106,000. Quantbot Technologies LP bought a new stake in Community Healthcare Trust in the 2nd quarter valued at about $114,000. Finally, Resona Asset Management Co. Ltd. boosted its position in Community Healthcare Trust by 11.3% during the third quarter. Resona Asset Management Co. Ltd. now owns 11,112 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 1,130 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.