Community Healthcare Trust (NYSE:CHCT) Stock Price Target Lowered at Piper Sandler

Community Healthcare Trust (NYSE:CHCT) had its price objective decreased by Piper Sandler from $17.00 to $14.00 in a research report released on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

CHCT has been the topic of several other reports. Huntington started coverage on Community Healthcare Trust in a research report on Friday, July 17th. They issued an “outperform” rating and a $20.00 price objective on the stock. Weiss Ratings lowered Community Healthcare Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Truist Financial decreased their price target on Community Healthcare Trust from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.00.

Community Healthcare Trust Stock Performance

Shares of Community Healthcare Trust stock opened at $13.55 on Monday. The company has a 50-day simple moving average of $14.66 and a two-hundred day simple moving average of $16.52. The stock has a market capitalization of $388.35 million, a PE ratio of 20.23 and a beta of 0.68. Community Healthcare Trust has a 52-week low of $13.23 and a 52-week high of $19.17.

Community Healthcare Trust (NYSE:CHCT) last posted its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.05). The firm had revenue of $30.97 million for the quarter, compared to analysts’ expectations of $31.77 million. Community Healthcare Trust had a net margin of 16.81% and a return on equity of 4.96%. As a group, equities research analysts forecast that Community Healthcare Trust will post 1.87 EPS for the current fiscal year.

Community Healthcare Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend was Wednesday, August 19th. This is a drop from Community Healthcare Trust’s previous quarterly dividend of $0.48. Community Healthcare Trust’s payout ratio is 197.01%.

Insider Buying and Selling

In related news, CEO David H. Dupuy acquired 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $15.13 per share, with a total value of $151,300.00. Following the completion of the acquisition, the chief executive officer directly owned 557,262 shares of the company’s stock, valued at approximately $8,431,374.06. This trade represents a 1.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Z. Hensley acquired 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $15.21 per share, with a total value of $121,680.00. Following the completion of the acquisition, the director directly owned 103,702 shares of the company’s stock, valued at $1,577,307.42. The trade was a 8.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Community Healthcare Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in Community Healthcare Trust in the second quarter valued at about $27,000. Legal & General Group Plc bought a new stake in shares of Community Healthcare Trust during the 2nd quarter valued at about $51,000. Quantbot Technologies LP bought a new stake in shares of Community Healthcare Trust during the 2nd quarter valued at about $58,000. PVG Asset Management Corp purchased a new stake in shares of Community Healthcare Trust during the 2nd quarter valued at about $189,000. Finally, State of Wyoming purchased a new stake in shares of Community Healthcare Trust during the 2nd quarter valued at about $226,000. 87.84% 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 focused on owning and operating healthcare-related properties. The company primarily invests in facilities that provide outpatient healthcare services, including medical office buildings, physician clinics, specialty facilities, behavioral health properties, ambulatory surgery centers and other healthcare-focused real estate.

Community Healthcare Trust generally targets properties located in non-urban and underserved communities across the United States.