Community Healthcare Trust (NYSE:CHCT) Shares Up 4.5%

Community Healthcare Trust Incorporated (NYSE:CHCT)’s share price was up 4.5% on Tuesday . The stock traded as high as $23.53 and last traded at $23.47. Approximately 102,276 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 179,902 shares. The stock had previously closed at $22.45.

Wall Street Analysts Forecast Growth

CHCT has been the topic of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 price target (down previously from $36.00) on shares of Community Healthcare Trust in a research note on Wednesday, May 1st. Evercore ISI lowered their target price on shares of Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.33.

Community Healthcare Trust Stock Performance

The stock has a market cap of $640.98 million, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 1.35 and a beta of 0.68. The company has a 50 day moving average of $24.58 and a 200-day moving average of $25.91.

Community Healthcare Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.46 dividend. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, May 9th. This represents a $1.84 annualized dividend and a dividend yield of 7.95%. Community Healthcare Trust’s dividend payout ratio (DPR) is presently 287.50%.

Institutional Investors Weigh In On Community Healthcare Trust

A number of hedge funds have recently added to or reduced their stakes in CHCT. Janus Henderson Group PLC grew its position in shares of Community Healthcare Trust by 5,664.3% during the first quarter. Janus Henderson Group PLC now owns 590,442 shares of the real estate investment trust’s stock worth $15,676,000 after buying an additional 580,199 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Community Healthcare Trust in the 1st quarter valued at $7,835,000. Russell Investments Group Ltd. lifted its position in shares of Community Healthcare Trust by 27.8% during the 1st quarter. Russell Investments Group Ltd. now owns 364,844 shares of the real estate investment trust’s stock worth $9,687,000 after purchasing an additional 79,421 shares during the last quarter. Davis Selected Advisers grew its stake in shares of Community Healthcare Trust by 55.9% during the third quarter. Davis Selected Advisers now owns 163,400 shares of the real estate investment trust’s stock worth $4,853,000 after purchasing an additional 58,570 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Community Healthcare Trust by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,951,903 shares of the real estate investment trust’s stock valued at $78,373,000 after buying an additional 53,282 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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).