Community Healthcare Trust (NYSE:CHCT) Stock Price Up 8.9% Following Dividend Announcement

Community Healthcare Trust Incorporated (NYSE:CHCT)’s stock price rose 8.9% during mid-day trading on Friday after the company announced a dividend. The stock traded as high as $18.25 and last traded at $18.25. Approximately 67,714 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 275,796 shares. The stock had previously closed at $16.76.

The newly announced dividend which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.465 per share. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, November 8th. This represents a $1.86 annualized dividend and a dividend yield of 10.56%. Community Healthcare Trust’s dividend payout ratio (DPR) is 289.06%.

Analyst Ratings Changes

CHCT has been the subject of several research reports. Robert W. Baird reduced their price objective on shares of Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. StockNews.com cut shares of Community Healthcare Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Evercore ISI upgraded shares of Community Healthcare Trust from an “underperform” rating to an “inline” rating and decreased their target price for the stock from $21.00 to $18.00 in a 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 report on Monday, September 9th. Finally, Truist Financial decreased 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 report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Community Healthcare Trust has a consensus rating of “Hold” and an average target price of $20.75.

Community Healthcare Trust Stock Up 5.1 %

The stock has a market cap of $488.09 million, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 1.13 and a beta of 0.69. The firm’s 50-day moving average is $17.49 and its two-hundred day moving average is $21.47.

Insider Activity at Community Healthcare Trust

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

Institutional Investors Weigh In On Community Healthcare Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in Community Healthcare Trust by 67.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,062 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 3,260 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Community Healthcare Trust by 1.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,755 shares of the real estate investment trust’s stock worth $790,000 after buying an additional 527 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Community Healthcare Trust by 10.5% during the first quarter. Janney Montgomery Scott LLC now owns 52,366 shares of the real estate investment trust’s stock worth $1,390,000 after buying an additional 4,985 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in Community Healthcare Trust during the first quarter worth $7,835,000. Finally, Illinois Municipal Retirement Fund boosted its stake in Community Healthcare Trust by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 14,703 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 558 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

About Community Healthcare Trust

Community Healthcare Trust Incorporated (the Company”, we”, our”) was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers.