Truist Financial Lowers Community Healthcare Trust (NYSE:CHCT) Price Target to $19.00

Community Healthcare Trust (NYSE:CHCT) had its price target cut by equities researchers at Truist Financial from $20.00 to $19.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 14.53% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen upgraded Community Healthcare Trust from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research downgraded shares of Community Healthcare Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings raised Community Healthcare Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 18th. Evercore set a $17.00 price objective on Community Healthcare Trust in a research note on Thursday, February 19th. Finally, Piper Sandler boosted their target price on shares of Community Healthcare Trust from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.00.

Community Healthcare Trust Stock Performance

Shares of NYSE:CHCT opened at $16.59 on Tuesday. The firm’s 50 day simple moving average is $17.11 and its 200-day simple moving average is $15.77. The firm has a market cap of $473.98 million, a PE ratio of 237.03 and a beta of 0.74. Community Healthcare Trust has a one year low of $13.23 and a one year high of $19.01.

Community Healthcare Trust (NYSE:CHCT) last released its quarterly earnings data on Tuesday, February 17th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). The business had revenue of $30.95 million for the quarter, compared to analyst estimates of $31.33 million. Community Healthcare Trust had a return on equity of 1.16% and a net margin of 4.21%. Equities research analysts predict that Community Healthcare Trust will post 1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Community Healthcare Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in 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 acquiring an additional 1,129 shares during the period. Kestra Advisory Services LLC bought a new position in Community Healthcare Trust in the 4th quarter worth approximately $49,000. Creative Financial Designs Inc. ADV lifted its holdings in Community Healthcare Trust by 104.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,553 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 1,817 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Community Healthcare Trust by 992.0% during the fourth quarter. Quadrant Capital Group LLC now owns 4,521 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 4,107 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Community Healthcare Trust by 143.6% during the third quarter. BNP Paribas Financial Markets now owns 5,886 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 3,470 shares during the last quarter. 87.84% of the stock is owned by 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.