Community Healthcare Trust Inc. (NYSE:CHCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $24.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.73% from the stock’s current price.

According to Zacks, “Community Healthcare Trust Incorporated is engaged in the acquisition of properties which are leased to hospitals, doctors, healthcare systems or other healthcare service providers. Community Healthcare Trust Incorporated is based in Franklin, United States. “

Community Healthcare Trust (NYSE:CHCT) opened at 21.29 on Tuesday. Community Healthcare Trust has a 52 week low of $15.87 and a 52 week high of $23.70. The firm has a 50-day moving average of $22.25 and a 200 day moving average of $21.46. The stock has a market capitalization of $276.51 million, a price-to-earnings ratio of 287.70 and a beta of 1.08.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a dividend of $0.385 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 7.23%. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.38. Community Healthcare Trust’s payout ratio is presently 956.31%.

In other news, CEO Timothy G. Wallace bought 19,522 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was acquired at an average price of $21.30 per share, for a total transaction of $415,818.60. Following the acquisition, the chief executive officer now owns 228,256 shares of the company’s stock, valued at $4,861,852.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy G. Wallace bought 13,088 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were purchased at an average price of $21.66 per share, with a total value of $283,486.08. Following the acquisition, the chief executive officer now directly owns 263,420 shares in the company, valued at approximately $5,705,677.20. The disclosure for this purchase can be found here. Insiders own 5.10% of the company’s stock.

Several hedge funds have recently modified their holdings of CHCT. BlackRock Advisors LLC boosted its stake in shares of Community Healthcare Trust by 16.1% in the third quarter. BlackRock Advisors LLC now owns 5,453 shares of the company’s stock worth $120,000 after buying an additional 758 shares during the last quarter. American International Group Inc. purchased a new stake in shares of Community Healthcare Trust during the second quarter worth about $153,000. Nationwide Fund Advisors purchased a new stake in shares of Community Healthcare Trust during the second quarter worth about $169,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Community Healthcare Trust by 2,687.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 10,647 shares of the company’s stock worth $225,000 after buying an additional 10,265 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Community Healthcare Trust during the third quarter worth about $229,000. Institutional investors and hedge funds own 87.66% of the company’s stock.

About Community Healthcare Trust

Community Healthcare Trust Incorporated is an integrated healthcare real estate company. The Company owns and acquires, or finances, real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers in non-urban markets. The Company holds interests in approximately 40 real estate properties and mortgage notes, located in over 20 states, totaling approximately 789,500 square feet.

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