SunTrust Banks Reaffirms Positive Rating for Community Healthcare Trust (NYSE:CHCT)
Community Healthcare Trust (NYSE:CHCT)‘s stock had its “positive” rating reaffirmed by stock analysts at SunTrust Banks in a report released on Tuesday, The Fly reports. They presently have a $50.00 target price on the real estate investment trust’s stock. SunTrust Banks’ target price suggests a potential upside of 5.55% from the company’s current price. SunTrust Banks also issued estimates for Community Healthcare Trust’s FY2019 earnings at $1.68 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.53 EPS, Q4 2020 earnings at $0.54 EPS, FY2020 earnings at $2.04 EPS, FY2021 earnings at $2.35 EPS, FY2022 earnings at $2.64 EPS and FY2023 earnings at $3.01 EPS.
A number of other brokerages have also recently weighed in on CHCT. Evercore ISI restated a “hold” rating on shares of Community Healthcare Trust in a research report on Monday, November 11th. Zacks Investment Research downgraded shares of Community Healthcare Trust from a “buy” rating to a “hold” rating in a report on Monday, October 28th. ValuEngine cut shares of Community Healthcare Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Sandler O’Neill raised shares of Community Healthcare Trust from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Community Healthcare Trust has an average rating of “Hold” and a consensus target price of $44.51.
CHCT stock opened at $47.37 on Tuesday. The firm has a 50 day moving average of $46.47 and a 200-day moving average of $42.51. The company has a market cap of $960.46 million, a price-to-earnings ratio of 29.79 and a beta of 0.70. Community Healthcare Trust has a 12-month low of $27.54 and a 12-month high of $49.17.
In other news, COO W. Page Barnes sold 5,263 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $46.00, for a total transaction of $242,098.00. Following the completion of the transaction, the chief operating officer now owns 190,463 shares of the company’s stock, valued at $8,761,298. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.70% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of CHCT. Tower Research Capital LLC TRC acquired a new position in shares of Community Healthcare Trust in the 3rd quarter valued at $52,000. Coastal Investment Advisors Inc. acquired a new position in shares of Community Healthcare Trust in the 2nd quarter valued at approximately $59,000. Quantamental Technologies LLC increased its stake in Community Healthcare Trust by 49.8% during the 2nd quarter. Quantamental Technologies LLC now owns 1,505 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 500 shares in the last quarter. Price Capital Management Inc. acquired a new stake in Community Healthcare Trust during the 3rd quarter worth approximately $62,000. Finally, KBC Group NV bought a new position in Community Healthcare Trust in the second quarter valued at approximately $74,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.
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 non-urban markets throughout the United States. The Company had investments of approximately $478.4 million in 105 real estate properties as of March 31, 2019, located in 29 states, totaling approximately 2.3 million square feet.
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