Community Healthcare Trust (NYSE:CHCT) Shares Gap Down on Disappointing Earnings

Community Healthcare Trust Incorporated (NYSE:CHCT)’s stock price gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $27.51, but opened at $25.00. Community Healthcare Trust shares last traded at $22.25, with a volume of 39,260 shares trading hands.

The real estate investment trust reported ($0.42) EPS for the quarter, missing the consensus estimate of $0.50 by ($0.92). The company had revenue of $27.52 million during the quarter, compared to the consensus estimate of $30.02 million. Community Healthcare Trust had a return on equity of 3.57% and a net margin of 15.91%. During the same period in the prior year, the firm posted $0.63 EPS.

Community Healthcare Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.4625 dividend. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.85 annualized dividend and a dividend yield of 8.35%. Community Healthcare Trust’s dividend payout ratio (DPR) is presently 287.50%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHCT. Truist Financial reduced their price objective on shares of Community Healthcare Trust from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Evercore ISI reduced their price objective on shares of Community Healthcare Trust from $29.00 to $27.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Robert W. Baird reduced their price objective on shares of Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Piper Sandler reissued 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. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Community Healthcare Trust currently has an average rating of “Hold” and an average target price of $27.00.

Hedge Funds Weigh In On Community Healthcare Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC grew its stake in Community Healthcare Trust by 15.5% in the 2nd quarter. Peregrine Capital Management LLC now owns 246,109 shares of the real estate investment trust’s stock worth $5,756,000 after buying an additional 33,008 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Community Healthcare Trust by 124.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 52,794 shares of the real estate investment trust’s stock worth $1,235,000 after acquiring an additional 29,297 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Community Healthcare Trust by 65.7% in the 2nd quarter. SG Americas Securities LLC now owns 9,152 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 3,630 shares during the last quarter. Hancock Whitney Corp bought a new stake in shares of Community Healthcare Trust in the 1st quarter worth approximately $217,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Community Healthcare Trust by 5,664.3% in the 1st quarter. Janus Henderson Group PLC now owns 590,442 shares of the real estate investment trust’s stock worth $15,676,000 after acquiring an additional 580,199 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Community Healthcare Trust Trading Down 19.4 %

The stock has a market capitalization of $613.83 million, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 1.63 and a beta of 0.68. The stock’s fifty day moving average price is $24.02 and its two-hundred day moving average price is $25.25.

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).