Community Healthcare Trust (NYSE:CHCT) Stock Gets Price Target Cut from Piper Sandler

Community Healthcare Trust (NYSE:CHCT) had its target price trimmed by Piper Sandler from $17.00 to $14.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on the stock. Truist Financial cut their target price on shares of Community Healthcare Trust from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Weiss Ratings downgraded shares of Community Healthcare Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, Huntington assumed coverage on shares of Community Healthcare Trust in a research report on Friday, July 17th. They issued an “outperform” rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Community Healthcare Trust presently has an average rating of “Hold” and a consensus price target of $17.00.

Community Healthcare Trust Stock Performance

CHCT stock opened at $13.15 on Monday. The company has a market capitalization of $376.89 million, a price-to-earnings ratio of 19.63 and a beta of 0.68. Community Healthcare Trust has a fifty-two week low of $13.14 and a fifty-two week high of $19.17. The stock has a fifty day moving average of $14.53 and a 200-day moving average of $16.48.

Community Healthcare Trust (NYSE:CHCT) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.05). Community Healthcare Trust had a return on equity of 4.96% and a net margin of 16.81%. The firm had revenue of $30.97 million during the quarter, compared to analysts’ expectations of $31.77 million. Equities analysts predict that Community Healthcare Trust will post 1.87 EPS for the current year.

Community Healthcare Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.0%. This is a drop from Community Healthcare Trust’s previous quarterly dividend of $0.48. The ex-dividend date was Wednesday, August 19th. Community Healthcare Trust’s dividend payout ratio (DPR) is 197.01%.

Insiders Place Their Bets

In other Community Healthcare Trust news, Director Robert Z. Hensley acquired 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average price of $15.21 per share, with a total value of $121,680.00. Following the completion of the purchase, the director owned 103,702 shares of the company’s stock, valued at approximately $1,577,307.42. This represents a 8.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David H. Dupuy acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $15.13 per share, with a total value of $151,300.00. Following the purchase, the chief executive officer directly owned 557,262 shares of the company’s stock, valued at $8,431,374.06. This trade represents a 1.83% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 5.30% of the company’s stock.

Institutional Trading of Community Healthcare Trust

A number of large investors have recently modified their holdings of CHCT. Fortitude Family Office LLC grew its stake in Community Healthcare Trust by 1,787.7% in the 3rd quarter. Fortitude Family Office LLC now owns 2,303 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,181 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Community Healthcare Trust in the 2nd quarter worth $27,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Community Healthcare Trust during the 2nd quarter valued at $936,000. Bank of America Corp DE purchased a new stake in shares of Community Healthcare Trust during the 2nd quarter valued at $2,175,000. Finally, Odyssean LLC raised its position in shares of Community Healthcare Trust by 18.1% during the 2nd quarter. Odyssean LLC now owns 31,238 shares of the real estate investment trust’s stock valued at $571,000 after buying an additional 4,779 shares in 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 focused on owning and operating healthcare-related properties. The company primarily invests in facilities that provide outpatient healthcare services, including medical office buildings, physician clinics, specialty facilities, behavioral health properties, ambulatory surgery centers and other healthcare-focused real estate.

Community Healthcare Trust generally targets properties located in non-urban and underserved communities across the United States.