Evercore ISI Trims Community Healthcare Trust (NYSE:CHCT) Target Price to $30.00

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

Several other analysts have also commented on CHCT. 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. Piper Sandler reduced their price target on shares of Community Healthcare Trust from $40.00 to $36.00 and set an overweight rating on the stock in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Community Healthcare Trust has a consensus rating of Hold and an average price target of $33.67.

Community Healthcare Trust Stock Performance

CHCT stock opened at $25.19 on Tuesday. The firm has a market cap of $697.37 million, a PE ratio of 119.93, a PEG ratio of 1.32 and a beta of 0.65. The firm’s 50 day moving average price is $26.43 and its 200-day moving average price is $26.81. Community Healthcare Trust has a one year low of $24.50 and a one year high of $37.15.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were given a $0.458 dividend. 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. This represents a $1.83 dividend on an annualized basis and a yield of 7.27%. Community Healthcare Trust’s payout ratio is presently 871.43%.

Institutional Trading of Community Healthcare Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in Community Healthcare Trust in the second quarter valued at approximately $27,000. US Bancorp DE raised its position in Community Healthcare Trust by 1,335.3% in the fourth quarter. US Bancorp DE now owns 1,665 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,549 shares during the period. Quadrant Capital Group LLC raised its position in Community Healthcare Trust by 264.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,824 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,323 shares during the period. Tower Research Capital LLC TRC raised its position in Community Healthcare Trust by 196.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,794 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,189 shares during the period. Finally, Osaic Holdings Inc. raised its position in Community Healthcare Trust by 28.4% in the second quarter. Osaic Holdings Inc. now owns 2,253 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 499 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Community Healthcare Trust Company Profile

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).