Evercore ISI Cuts Community Healthcare Trust (NYSE:CHCT) Price Target to $21.00

Community Healthcare Trust (NYSE:CHCT) had its price target cut by Evercore ISI from $25.00 to $21.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

Several other brokerages have also issued reports on CHCT. Truist Financial decreased their price target on shares of Community Healthcare Trust from $35.00 to $30.00 and set a buy rating on the stock in a report on Monday, June 17th. Piper Sandler reaffirmed a neutral rating and set a $26.00 price target (down from $36.00) on shares of Community Healthcare Trust in a report on Wednesday, May 1st. StockNews.com lowered shares of Community Healthcare Trust from a hold rating to a sell rating in a report on Tuesday, August 20th. Finally, Robert W. Baird decreased 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 report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $23.50.

Community Healthcare Trust Stock Performance

Shares of NYSE:CHCT opened at $18.73 on Wednesday. The firm has a 50 day moving average of $22.11 and a 200-day moving average of $24.13. The stock has a market capitalization of $518.84 million, a PE ratio of 29.27, a PEG ratio of 1.24 and a beta of 0.68. Community Healthcare Trust has a 12 month low of $17.64 and a 12 month high of $33.59.

Community Healthcare Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 9.88%. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, August 9th. Community Healthcare Trust’s payout ratio is presently 289.06%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Community Healthcare Trust in the 1st quarter worth approximately $34,000. Quadrant Capital Group LLC lifted its position in shares of Community Healthcare Trust by 264.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,824 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,323 shares during the period. Van ECK Associates Corp lifted its position in shares of Community Healthcare Trust by 25.1% in the 4th quarter. Van ECK Associates Corp now owns 3,740 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 751 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Community Healthcare Trust by 67.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,062 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 3,260 shares during the period. Finally, Hancock Whitney Corp acquired a new position in shares of Community Healthcare Trust in the 1st quarter worth approximately $217,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

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).