Park Avenue Securities LLC Takes Position in Community Healthcare Trust Incorporated (NYSE:CHCT)

Park Avenue Securities LLC acquired a new position in shares of Community Healthcare Trust Incorporated (NYSE:CHCT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,588 shares of the real estate investment trust’s stock, valued at approximately $319,000. Park Avenue Securities LLC owned about 0.06% of Community Healthcare Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in Community Healthcare Trust in the first quarter valued at approximately $34,000. PNC Financial Services Group Inc. raised its stake in Community Healthcare Trust by 67.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,062 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 3,260 shares during the period. Hancock Whitney Corp acquired a new stake in Community Healthcare Trust during the 1st quarter valued at $217,000. SG Americas Securities LLC boosted its position in Community Healthcare Trust by 65.7% during the second quarter. SG Americas Securities LLC now owns 9,152 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 3,630 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Community Healthcare Trust in the second quarter valued at $243,000. 87.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO David H. Dupuy bought 10,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $19.48 per share, with a total value of $194,800.00. Following the acquisition, the chief executive officer now directly owns 363,565 shares in the company, valued at $7,082,246.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Community Healthcare Trust news, CEO David H. Dupuy bought 10,000 shares of Community Healthcare Trust stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $19.48 per share, with a total value of $194,800.00. Following the acquisition, the chief executive officer now owns 363,565 shares in the company, valued at $7,082,246.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Z. Hensley purchased 6,500 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $19.50 per share, with a total value of $126,750.00. Following the acquisition, the director now directly owns 70,670 shares in the company, valued at $1,378,065. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by company insiders.

Community Healthcare Trust Price Performance

Community Healthcare Trust stock opened at $16.68 on Monday. The firm has a market cap of $462.05 million, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.13 and a beta of 0.69. The stock’s fifty day moving average price is $17.74 and its two-hundred day moving average price is $22.06. Community Healthcare Trust Incorporated has a one year low of $15.06 and a one year high of $29.55.

Community Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.4625 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 11.09%. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.42. Community Healthcare Trust’s dividend payout ratio (DPR) is presently 289.06%.

Wall Street Analyst Weigh In

CHCT has been the subject of a number of research reports. Truist Financial cut their target price on shares of Community Healthcare Trust from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 30th. StockNews.com downgraded Community Healthcare Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Evercore ISI raised Community Healthcare Trust from an “underperform” rating to an “inline” rating and dropped their price target for the stock from $21.00 to $18.00 in a report on Monday, September 16th. Piper Sandler decreased their price objective on Community Healthcare Trust from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, Robert W. Baird dropped their target price on Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.75.

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).