The Manufacturers Life Insurance Company Has $411,000 Stock Position in Community Healthcare Trust Incorporated (NYSE:CHCT)

The Manufacturers Life Insurance Company raised its stake in Community Healthcare Trust Incorporated (NYSE:CHCT) by 65.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,582 shares of the real estate investment trust’s stock after acquiring an additional 6,957 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Community Healthcare Trust were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its stake in Community Healthcare Trust by 27.8% during the 1st quarter. Russell Investments Group Ltd. now owns 364,844 shares of the real estate investment trust’s stock worth $9,687,000 after acquiring an additional 79,421 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Community Healthcare Trust during the first quarter worth $933,000. Vanguard Group Inc. boosted its position in shares of Community Healthcare Trust by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,951,903 shares of the real estate investment trust’s stock valued at $78,373,000 after acquiring an additional 53,282 shares during the period. Peregrine Capital Management LLC boosted its position in shares of Community Healthcare Trust by 15.5% in the second quarter. Peregrine Capital Management LLC now owns 246,109 shares of the real estate investment trust’s stock valued at $5,756,000 after acquiring an additional 33,008 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its position in Community Healthcare Trust by 18.1% during the second quarter. Deprince Race & Zollo Inc. now owns 428,730 shares of the real estate investment trust’s stock worth $10,028,000 after purchasing an additional 65,642 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Community Healthcare Trust Price Performance

Shares of Community Healthcare Trust stock opened at $17.44 on Thursday. Community Healthcare Trust Incorporated has a 1 year low of $15.06 and a 1 year high of $29.55. The firm has a market cap of $483.11 million, a PE ratio of 27.25, a P/E/G ratio of 1.13 and a beta of 0.69. The stock has a fifty day moving average price of $17.63 and a 200-day moving average price of $21.89.

Community Healthcare Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.85 annualized dividend and a yield of 10.61%. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. Community Healthcare Trust’s dividend payout ratio (DPR) is 289.06%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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

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).