Evercore ISI Cuts Community Healthcare Trust (NYSE:CHCT) Price Target to $30.00

Community Healthcare Trust (NYSE:CHCT) had its price target lowered by Evercore ISI from $32.00 to $30.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

CHCT has been the subject of several other research reports. Piper Sandler lowered their price target on Community Healthcare Trust from $40.00 to $36.00 and set an overweight rating for the company in a report on Friday, March 22nd. Truist Financial dropped their price target on shares of Community Healthcare Trust from $36.00 to $35.00 and set a buy rating for the company in a research report on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $33.67.

Community Healthcare Trust Stock Up 1.3 %

Shares of NYSE:CHCT opened at $25.50 on Tuesday. The business has a fifty day simple moving average of $26.41 and a 200-day simple moving average of $26.78. Community Healthcare Trust has a 52 week low of $24.50 and a 52 week high of $37.15. The company has a market cap of $706.12 million, a P/E ratio of 121.43, a P/E/G ratio of 1.33 and a beta of 0.65.

Community Healthcare Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were issued a $0.458 dividend. This represents a $1.83 dividend on an annualized basis and a dividend yield of 7.18%. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 16th. Community Healthcare Trust’s dividend payout ratio (DPR) is 871.43%.

Institutional Trading of Community Healthcare Trust

A number of institutional investors have recently modified their holdings of CHCT. Millennium Management LLC lifted its position in Community Healthcare Trust by 134.2% during the fourth quarter. Millennium Management LLC now owns 714,109 shares of the real estate investment trust’s stock valued at $25,565,000 after buying an additional 409,213 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Community Healthcare Trust during the 4th quarter valued at $6,439,000. Palisade Capital Management LP boosted its position in Community Healthcare Trust by 104.0% during the 4th quarter. Palisade Capital Management LP now owns 434,532 shares of the real estate investment trust’s stock worth $15,556,000 after purchasing an additional 221,499 shares during the period. BlackRock Inc. increased its holdings in Community Healthcare Trust by 4.7% in the 2nd quarter. BlackRock Inc. now owns 4,862,191 shares of the real estate investment trust’s stock valued at $160,550,000 after purchasing an additional 217,326 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in Community Healthcare Trust in the third quarter valued at about $5,598,000. Hedge funds and other 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).