Community Healthcare Trust (NYSE:CHCT) Price Target Cut to $30.00 by Analysts at Evercore ISI

Community Healthcare Trust (NYSE:CHCT) had its price objective trimmed by Evercore ISI from $32.00 to $30.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

CHCT has been the subject of a number of other research reports. Piper Sandler dropped their price objective on shares of Community Healthcare Trust from $40.00 to $36.00 and set an overweight rating for the company in a report on Friday, March 22nd. Truist Financial reduced their price target on shares of Community Healthcare Trust from $36.00 to $35.00 and set a buy rating on the stock in a research report on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $33.67.

Community Healthcare Trust Stock Down 0.8 %

Community Healthcare Trust stock opened at $24.73 on Tuesday. Community Healthcare Trust has a 52-week low of $24.50 and a 52-week high of $37.15. The company has a fifty day simple moving average of $26.43 and a 200-day simple moving average of $26.83. The firm has a market capitalization of $684.77 million, a price-to-earnings ratio of 117.76, a PEG ratio of 1.34 and a beta of 0.65.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were paid a dividend of $0.458 per share. This represents a $1.83 dividend on an annualized basis and a dividend yield of 7.41%. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 16th. Community Healthcare Trust’s dividend payout ratio is presently 871.43%.

Institutional Trading of Community Healthcare Trust

A number of large investors have recently made changes to their positions in CHCT. Millennium Management LLC increased its stake in shares of Community Healthcare Trust by 134.2% during the fourth quarter. Millennium Management LLC now owns 714,109 shares of the real estate investment trust’s stock worth $25,565,000 after buying an additional 409,213 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Community Healthcare Trust during the fourth quarter worth approximately $6,439,000. Palisade Capital Management LP increased its stake in shares of Community Healthcare Trust by 104.0% during the fourth quarter. Palisade Capital Management LP now owns 434,532 shares of the real estate investment trust’s stock worth $15,556,000 after buying an additional 221,499 shares during the period. BlackRock Inc. increased its stake in shares of Community Healthcare Trust by 4.7% during the second quarter. BlackRock Inc. now owns 4,862,191 shares of the real estate investment trust’s stock worth $160,550,000 after buying an additional 217,326 shares during the period. Finally, Great Lakes Advisors LLC purchased a new position in Community Healthcare Trust in the third quarter valued at approximately $5,598,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

About Community Healthcare Trust

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 December 31, 2023, the Company had investments of approximately $1.1 billion in 193 real estate properties (including a portion of one property accounted for as a sales-type lease and two properties classified as held for sale).