Community Healthcare Trust (NYSE:CHCT) Reaches New 52-Week High – Here’s Why

Community Healthcare Trust Incorporated (NYSE:CHCT) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $18.66 and last traded at $18.6150, with a volume of 14237 shares. The stock had previously closed at $18.38.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CHCT shares. Weiss Ratings upgraded shares of Community Healthcare Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 12th. Wall Street Zen lowered shares of Community Healthcare Trust from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Truist Financial lifted their price target on shares of Community Healthcare Trust from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.33.

Community Healthcare Trust Stock Performance

The stock has a market cap of $523.37 million, a PE ratio of 166.55 and a beta of 0.71. The firm has a 50-day moving average price of $17.56 and a 200-day moving average price of $17.03.

Community Healthcare Trust (NYSE:CHCT) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $31.52 million for the quarter, compared to analysts’ expectations of $31.03 million. Community Healthcare Trust had a net margin of 4.94% and a return on equity of 1.41%. As a group, sell-side analysts anticipate that Community Healthcare Trust Incorporated will post 1.86 EPS for the current fiscal year.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 11th were paid a $0.48 dividend. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.48. This represents a $1.92 annualized dividend and a dividend yield of 10.5%. The ex-dividend date was Monday, May 11th. Community Healthcare Trust’s payout ratio is currently 1,745.45%.

Institutional Investors Weigh In On Community Healthcare Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. PVG Asset Management Corp purchased a new position in Community Healthcare Trust in the 2nd quarter worth approximately $189,000. Quantinno Capital Management LP boosted its stake in Community Healthcare Trust by 55.1% during the 1st quarter. Quantinno Capital Management LP now owns 53,958 shares of the real estate investment trust’s stock valued at $857,000 after purchasing an additional 19,176 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Community Healthcare Trust during the 1st quarter valued at $461,000. Sei Investments Co. increased its holdings in shares of Community Healthcare Trust by 34.1% in the 1st quarter. Sei Investments Co. now owns 360,542 shares of the real estate investment trust’s stock worth $5,729,000 after purchasing an additional 91,740 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Community Healthcare Trust by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 389,811 shares of the real estate investment trust’s stock worth $6,194,000 after purchasing an additional 7,975 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Community Healthcare Trust Company Profile

Community Healthcare Trust Incorporated (NYSE:CHCT) is a real estate investment trust that specializes in owning and leasing healthcare-related properties. The company’s portfolio is focused primarily on senior housing and care facilities, including skilled nursing centers, assisted living communities, memory care units, independent living apartments and continuing care retirement communities. Through long‐term, triple‐net leases, Community Healthcare Trust seeks stable, predictable cash flows by partnering with experienced operators that manage day-to-day resident care and property operations.

As of the latest reporting, Community Healthcare Trust’s holdings span multiple regions across the United States, with properties located in both urban and suburban markets.