State of New Jersey Common Pension Fund D Has $4.39 Million Stake in Community Healthcare Trust Incorporated (NYSE:CHCT)

State of New Jersey Common Pension Fund D trimmed its holdings in Community Healthcare Trust Incorporated (NYSE:CHCT) by 27.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,700 shares of the real estate investment trust’s stock after selling 72,129 shares during the period. State of New Jersey Common Pension Fund D owned 0.68% of Community Healthcare Trust worth $4,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of Community Healthcare Trust in the first quarter valued at approximately $34,000. Quadrant Capital Group LLC raised its position in Community Healthcare Trust by 264.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,824 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,323 shares in the last quarter. PNC Financial Services Group Inc. raised its position 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 valued at $215,000 after purchasing an additional 3,260 shares in the last quarter. Hancock Whitney Corp acquired a new position in Community Healthcare Trust during the first quarter valued at approximately $217,000. Finally, SG Americas Securities LLC raised 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 valued at $214,000 after purchasing an additional 3,630 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Community Healthcare Trust Stock Performance

Shares of NYSE:CHCT opened at $17.82 on Tuesday. The company has a fifty day moving average of $20.77 and a 200-day moving average of $23.33. The company has a market capitalization of $493.63 million, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69. Community Healthcare Trust Incorporated has a 52-week low of $15.06 and a 52-week high of $32.67.

Community Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, August 9th. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.42. This represents a $1.85 annualized dividend and a dividend yield of 10.38%. Community Healthcare Trust’s dividend payout ratio is 289.06%.

Analyst Upgrades and Downgrades

CHCT has been the subject of several research analyst reports. Evercore ISI upgraded shares of Community Healthcare Trust from an “underperform” rating to an “inline” rating and lowered their price objective for the company from $21.00 to $18.00 in a research report on Monday. Robert W. Baird lowered 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. Truist Financial lowered their price objective on shares of 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. StockNews.com downgraded shares of Community Healthcare Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Finally, Piper Sandler lowered their price target 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. One 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.com, Community Healthcare Trust presently has an average rating of “Hold” and a consensus target price of $20.75.

Insider Buying and Selling

In other Community Healthcare Trust news, Director Robert Z. Hensley acquired 6,500 shares of Community Healthcare Trust stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $19.50 per share, with a total value of $126,750.00. Following the completion of the purchase, the director now directly owns 70,670 shares in the company, valued at approximately $1,378,065. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David H. Dupuy purchased 10,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 363,565 shares of the company’s stock, valued at approximately $7,082,246.20. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Z. Hensley purchased 6,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $19.50 per share, for a total transaction of $126,750.00. Following the transaction, the director now directly owns 70,670 shares of the company’s stock, valued at approximately $1,378,065. 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).