Moors & Cabot Inc. decreased its holdings in Community Healthcare Trust Incorporated (NYSE:CHCT – Free Report) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,608 shares of the real estate investment trust’s stock after selling 415 shares during the quarter. Moors & Cabot Inc. owned about 0.06% of Community Healthcare Trust worth $482,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Community Healthcare Trust during the second quarter valued at $27,000. CENTRAL TRUST Co lifted its position in Community Healthcare Trust by 80.0% during the second quarter. CENTRAL TRUST Co now owns 900 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 400 shares during the period. Captrust Financial Advisors purchased a new position in Community Healthcare Trust during the second quarter valued at $78,000. Allspring Global Investments Holdings LLC purchased a new position in Community Healthcare Trust during the second quarter valued at $88,000. Finally, Macquarie Group Ltd. lifted its position in Community Healthcare Trust by 19.5% during the third quarter. Macquarie Group Ltd. now owns 5,323 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 869 shares during the period. Hedge funds and other institutional investors own 89.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on CHCT. Truist Financial lowered their price objective on Community Healthcare Trust from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Robert W. Baird cut shares of Community Healthcare Trust from an “outperform” rating to a “neutral” rating in a research note on Friday, September 22nd. Piper Sandler dropped their price target on shares of Community Healthcare Trust from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. StockNews.com began coverage on shares of Community Healthcare Trust in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Evercore ISI cut shares of Community Healthcare Trust from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $36.00 to $32.00 in a research note on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Community Healthcare Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.
Community Healthcare Trust Stock Performance
CHCT opened at $26.64 on Friday. The stock has a market capitalization of $726.31 million, a P/E ratio of 121.09, a P/E/G ratio of 1.08 and a beta of 0.76. The company’s 50-day simple moving average is $28.77 and its two-hundred day simple moving average is $32.31. Community Healthcare Trust Incorporated has a 52-week low of $25.18 and a 52-week high of $43.88.
Community Healthcare Trust (NYSE:CHCT – Get Free Report) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.52). The company had revenue of $28.74 million for the quarter, compared to the consensus estimate of $28.77 million. Community Healthcare Trust had a net margin of 7.69% and a return on equity of 1.66%. During the same quarter in the prior year, the company posted $0.63 EPS. Research analysts forecast that Community Healthcare Trust Incorporated will post 2.5 EPS for the current fiscal year.
Community Healthcare Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.455 per share. The ex-dividend date is Wednesday, November 8th. This represents a $1.82 annualized dividend and a yield of 6.83%. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.45. Community Healthcare Trust’s dividend payout ratio is currently 827.27%.
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 September 30, 2023, the Company had investments of approximately $1.05 billion in 191 real estate properties (including a portion of one property accounted for as a sales-type lease and one property classified as held for sale).
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