Community Healthcare Trust (NYSE:CHCT) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Community Healthcare Trust (NYSE:CHCT) in a research report report published on Wednesday, MarketBeat reports. They currently have a $26.00 price target on the real estate investment trust’s stock, down from their prior price target of $36.00.

A number of other equities research analysts also recently issued reports on CHCT. Truist Financial reduced their price objective on shares of Community Healthcare Trust from $36.00 to $35.00 and set a buy rating for the company in a research report on Tuesday, January 16th. Evercore ISI reduced their price objective on shares of Community Healthcare Trust from $32.00 to $30.00 and set an in-line rating for the company 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. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $30.33.

Community Healthcare Trust Price Performance

NYSE:CHCT opened at $25.05 on Wednesday. Community Healthcare Trust has a one year low of $24.50 and a one year high of $37.15. The firm has a 50-day moving average of $26.24 and a 200-day moving average of $26.64. The company has a market cap of $693.63 million, a PE ratio of 119.29, a PEG ratio of 1.53 and a beta of 0.65.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.46. This represents a $1.84 annualized dividend and a yield of 7.35%. Community Healthcare Trust’s dividend payout ratio is currently 871.43%.

Hedge Funds Weigh In On Community Healthcare Trust

Institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its holdings in shares of Community Healthcare Trust by 264.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,824 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,323 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Community Healthcare Trust by 25.1% in the 4th quarter. Van ECK Associates Corp now owns 3,740 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 751 shares during the last quarter. MQS Management LLC bought a new position in shares of Community Healthcare Trust in the 3rd quarter worth $204,000. Advisor Partners II LLC bought a new position in shares of Community Healthcare Trust in the 3rd quarter worth $208,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Community Healthcare Trust by 67.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,062 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 3,260 shares during the last quarter. 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).