Truist Financial Issues Positive Forecast for Community Healthcare Trust (NYSE:CHCT) Stock Price

Community Healthcare Trust (NYSE:CHCT) had its target price increased by research analysts at Truist Financial from $19.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would indicate a potential upside of 11.23% from the stock’s current price.

Several other brokerages have also commented on CHCT. Wall Street Zen lowered Community Healthcare Trust from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Piper Sandler boosted their price target on Community Healthcare Trust from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Zacks Research lowered Community Healthcare Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Community Healthcare Trust in a research note on Monday, May 18th. Finally, Evercore set a $17.00 price objective on Community Healthcare Trust in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.33.

Community Healthcare Trust Price Performance

Shares of CHCT traded up $0.12 during midday trading on Thursday, reaching $17.98. 32,427 shares of the stock were exchanged, compared to its average volume of 232,307. The business’s 50-day moving average price is $17.18 and its 200 day moving average price is $16.74. Community Healthcare Trust has a twelve month low of $13.23 and a twelve month high of $18.29. The company has a market capitalization of $513.69 million, a price-to-earnings ratio of 163.83 and a beta of 0.73.

Community Healthcare Trust (NYSE:CHCT) last released its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Community Healthcare Trust had a return on equity of 1.41% and a net margin of 4.94%.The company had revenue of $31.52 million for the quarter, compared to analysts’ expectations of $31.03 million. As a group, equities research analysts expect that Community Healthcare Trust will post 1.86 earnings per share for the current fiscal year.

Institutional Trading of Community Healthcare Trust

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Community Healthcare Trust by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,804,298 shares of the real estate investment trust’s stock valued at $42,906,000 after purchasing an additional 67,241 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of Community Healthcare Trust by 3.6% in the 4th quarter. Systematic Financial Management LP now owns 1,123,736 shares of the real estate investment trust’s stock valued at $18,452,000 after purchasing an additional 38,532 shares in the last quarter. Invesco Ltd. raised its stake in shares of Community Healthcare Trust by 38.9% in the 3rd quarter. Invesco Ltd. now owns 1,060,213 shares of the real estate investment trust’s stock valued at $16,221,000 after purchasing an additional 297,179 shares in the last quarter. Kennedy Capital Management LLC raised its stake in shares of Community Healthcare Trust by 26.5% in the 4th quarter. Kennedy Capital Management LLC now owns 1,019,810 shares of the real estate investment trust’s stock valued at $16,745,000 after purchasing an additional 213,349 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in shares of Community Healthcare Trust by 0.7% in the 3rd quarter. Focus Partners Wealth now owns 743,324 shares of the real estate investment trust’s stock valued at $11,373,000 after purchasing an additional 5,000 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

About Community Healthcare Trust

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.