Piper Sandler Trims Community Healthcare Trust (NYSE:CHCT) Target Price to $18.00

Community Healthcare Trust (NYSE:CHCT) had its target price decreased by Piper Sandler from $21.00 to $18.00 in a report published on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

CHCT has been the subject of several other reports. Truist Financial cut their price target on shares of Community Healthcare Trust from $30.00 to $22.00 and set a buy rating for the company in a report on Friday, August 30th. Evercore ISI cut their target price on shares of Community Healthcare Trust from $25.00 to $21.00 and set an underperform rating for the company in a research note on Wednesday, August 28th. StockNews.com lowered Community Healthcare Trust from a hold rating to a sell rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird cut their price objective on Community Healthcare Trust from $29.00 to $25.00 and set a neutral rating for the company in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Community Healthcare Trust has a consensus rating of Hold and a consensus price target of $21.50.

Community Healthcare Trust Price Performance

Shares of NYSE:CHCT opened at $16.54 on Monday. The business’s fifty day moving average price is $20.99 and its two-hundred day moving average price is $23.51. Community Healthcare Trust has a fifty-two week low of $15.06 and a fifty-two week high of $33.09. The stock has a market capitalization of $458.17 million, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.12 and a beta of 0.69.

Community Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 11.19%. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. Community Healthcare Trust’s dividend payout ratio (DPR) is currently 289.06%.

Insiders Place Their Bets

In other news, Director Robert Z. Hensley bought 6,500 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $19.50 per share, with a total value of $126,750.00. Following the purchase, the director now owns 70,670 shares of the company’s stock, valued at $1,378,065. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Community Healthcare Trust news, Director Robert Z. Hensley purchased 6,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $19.50 per share, with a total value of $126,750.00. Following the completion of the purchase, the director now directly owns 70,670 shares in the company, valued at approximately $1,378,065. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David H. Dupuy acquired 10,000 shares of Community Healthcare Trust stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $19.48 per share, for a total transaction of $194,800.00. Following the completion of the purchase, the chief executive officer now owns 363,565 shares of the company’s stock, valued at approximately $7,082,246.20. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Community Healthcare Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHCT. B. Riley Wealth Advisors Inc. bought a new stake in Community Healthcare Trust in the second quarter valued at approximately $243,000. Systematic Financial Management LP increased its position in shares of Community Healthcare Trust by 8.0% in the 2nd quarter. Systematic Financial Management LP now owns 749,243 shares of the real estate investment trust’s stock valued at $17,525,000 after buying an additional 55,558 shares in the last quarter. Creative Planning bought a new stake in shares of Community Healthcare Trust in the 2nd quarter valued at $306,000. Algert Global LLC raised its stake in Community Healthcare Trust by 131.6% during the 2nd quarter. Algert Global LLC now owns 17,883 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 10,160 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Community Healthcare Trust by 65.5% during the second quarter. The Manufacturers Life Insurance Company now owns 17,582 shares of the real estate investment trust’s stock worth $411,000 after acquiring an additional 6,957 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Community Healthcare Trust Company Profile

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).