Zacks Research Downgrades Community Healthcare Trust (NYSE:CHCT) to Strong Sell

Community Healthcare Trust (NYSE:CHCT) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also commented on CHCT. Truist Financial decreased their price target on Community Healthcare Trust from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Piper Sandler reissued an “overweight” rating on shares of Community Healthcare Trust in a research note on Monday, August 4th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Community Healthcare Trust in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.00.

Community Healthcare Trust Price Performance

Shares of CHCT stock opened at $15.04 on Thursday. The stock’s fifty day simple moving average is $15.23 and its 200 day simple moving average is $16.19. The firm has a market cap of $426.68 million, a price-to-earnings ratio of -38.56 and a beta of 0.71. Community Healthcare Trust has a one year low of $14.20 and a one year high of $20.87.

Community Healthcare Trust (NYSE:CHCT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $30.13 million during the quarter, compared to analyst estimates of $30.22 million. Community Healthcare Trust had a negative net margin of 6.25% and a negative return on equity of 1.59%. On average, research analysts anticipate that Community Healthcare Trust will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On Community Healthcare Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Community Healthcare Trust in the first quarter valued at about $241,000. GSA Capital Partners LLP increased its holdings in Community Healthcare Trust by 235.9% in the first quarter. GSA Capital Partners LLP now owns 40,314 shares of the real estate investment trust’s stock valued at $732,000 after purchasing an additional 28,313 shares during the last quarter. Invesco Ltd. increased its holdings in Community Healthcare Trust by 12.2% in the first quarter. Invesco Ltd. now owns 677,436 shares of the real estate investment trust’s stock valued at $12,302,000 after purchasing an additional 73,762 shares during the last quarter. Strs Ohio bought a new stake in Community Healthcare Trust in the first quarter valued at about $794,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Community Healthcare Trust by 43.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 681,352 shares of the real estate investment trust’s stock valued at $12,373,000 after purchasing an additional 207,499 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

About Community Healthcare Trust

Community Healthcare Trust Incorporated (the Company”, we”, our”) was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers.