Community Healthcare Trust (NYSE:CHCT) Earns Neutral Rating from Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Community Healthcare Trust (NYSE:CHCT) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Piper Sandler currently has a $26.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $36.00.

Several other research analysts also recently commented on the company. Truist Financial reduced their target price on Community Healthcare Trust from $36.00 to $35.00 and set a buy rating on the stock in a report on Tuesday, January 16th. Evercore ISI reduced their target price on shares of Community Healthcare Trust from $32.00 to $30.00 and set an in-line rating on the stock in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Community Healthcare Trust currently has a consensus rating of Hold and a consensus price target of $30.33.

Community Healthcare Trust Price Performance

Community Healthcare Trust stock opened at $24.37 on Wednesday. Community Healthcare Trust has a 52-week low of $24.21 and a 52-week high of $37.15. The stock has a fifty day moving average price of $26.11 and a two-hundred day moving average price of $26.59. The firm has a market capitalization of $674.93 million, a P/E ratio of 38.07, a P/E/G ratio of 1.43 and a beta of 0.64.

Community Healthcare Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.46 per share. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, May 9th. This represents a $1.84 annualized dividend and a dividend yield of 7.55%. Community Healthcare Trust’s payout ratio is presently 287.50%.

Hedge Funds Weigh In On Community Healthcare Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHCT. Great Lakes Advisors LLC acquired a new position in shares of Community Healthcare Trust in the 3rd quarter valued at $5,598,000. Jupiter Asset Management Ltd. increased its holdings in shares of Community Healthcare Trust by 421.0% in the third quarter. Jupiter Asset Management Ltd. now owns 96,184 shares of the real estate investment trust’s stock worth $2,857,000 after acquiring an additional 77,723 shares in the last quarter. Davis Selected Advisers lifted its holdings in shares of Community Healthcare Trust by 55.9% during the 3rd quarter. Davis Selected Advisers now owns 163,400 shares of the real estate investment trust’s stock valued at $4,853,000 after purchasing an additional 58,570 shares in the last quarter. Strs Ohio grew its position in shares of Community Healthcare Trust by 51.1% in the 3rd quarter. Strs Ohio now owns 131,896 shares of the real estate investment trust’s stock valued at $3,917,000 after purchasing an additional 44,600 shares during the period. Finally, Panagora Asset Management Inc. bought a new stake in Community Healthcare Trust during the 4th quarter worth approximately $811,000. Institutional investors own 87.84% of the company’s stock.

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).