Community Healthcare Trust (NYSE:CHCT) Posts Quarterly Earnings Results

Community Healthcare Trust (NYSE:CHCT) posted its quarterly earnings results on Tuesday. The real estate investment trust reported ($0.42) EPS for the quarter, missing the consensus estimate of $0.50 by ($0.92), Yahoo Finance reports. Community Healthcare Trust had a return on equity of 3.57% and a net margin of 15.91%. The business had revenue of $27.52 million for the quarter, compared to analysts’ expectations of $30.02 million. During the same period last year, the business posted $0.63 earnings per share.

Community Healthcare Trust Stock Down 20.8 %

CHCT stock traded down $5.73 during midday trading on Wednesday, hitting $21.78. The company’s stock had a trading volume of 1,147,745 shares, compared to its average volume of 191,263. Community Healthcare Trust has a 12 month low of $21.38 and a 12 month high of $36.71. The firm has a market capitalization of $603.31 million, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.63 and a beta of 0.68. The company has a 50 day moving average of $24.02 and a two-hundred day moving average of $25.25.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 8.49%. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, August 9th. Community Healthcare Trust’s dividend payout ratio is currently 287.50%.

Analyst Ratings Changes

Several brokerages recently commented on CHCT. Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 target price (down from $36.00) on shares of Community Healthcare Trust in a research note on Wednesday, May 1st. Robert W. Baird dropped their price target on shares of Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday. Evercore ISI reissued an “underperform” rating and issued a $25.00 target price (down previously from $27.00) on shares of Community Healthcare Trust in a research report on Wednesday. Finally, Truist Financial reduced their price target on shares of Community Healthcare Trust from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Community Healthcare Trust has an average rating of “Hold” and an average target price of $26.50.

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).