Community Healthcare Trust (NYSE:CHCT) Hits New 52-Week Low at $23.83

Shares of Community Healthcare Trust Incorporated (NYSE:CHCT) reached a new 52-week low during trading on Thursday . The stock traded as low as $23.83 and last traded at $24.09, with a volume of 5387 shares changing hands. The stock had previously closed at $23.91.

Analyst Ratings Changes

CHCT has been the subject of several recent analyst reports. Truist Financial decreased their target price on shares of Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, January 16th. Evercore ISI decreased their price objective on shares of Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Finally, Piper Sandler reissued a “neutral” rating and set a $26.00 price objective (down from $36.00) on shares of Community Healthcare Trust in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.33.

Community Healthcare Trust Price Performance

The company’s fifty day moving average is $25.96 and its 200-day moving average is $26.49. The company has a market capitalization of $668.98 million, a PE ratio of 38.09, a price-to-earnings-growth ratio of 1.39 and a beta of 0.64.

Community Healthcare Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 7.62%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.46. Community Healthcare Trust’s dividend payout ratio is currently 287.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Community Healthcare Trust in the third quarter valued at about $339,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Community Healthcare Trust by 19.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,100 shares of the real estate investment trust’s stock worth $330,000 after purchasing an additional 1,809 shares in the last quarter. Strs Ohio lifted its position in shares of Community Healthcare Trust by 51.1% during the third quarter. Strs Ohio now owns 131,896 shares of the real estate investment trust’s stock worth $3,917,000 after purchasing an additional 44,600 shares in the last quarter. Advisor Partners II LLC acquired a new stake in Community Healthcare Trust in the third quarter valued at $208,000. Finally, Inspire Investing LLC bought a new position in shares of Community Healthcare Trust during the third quarter worth about $312,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

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).