The Manufacturers Life Insurance Company Grows Stock Holdings in Community Healthcare Trust Incorporated (NYSE:CHCT)

The Manufacturers Life Insurance Company increased its position in shares of Community Healthcare Trust Incorporated (NYSE:CHCT) by 65.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,582 shares of the real estate investment trust’s stock after buying an additional 6,957 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Community Healthcare Trust worth $411,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Community Healthcare Trust by 1.8% in 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 acquiring an additional 527 shares in the last quarter. American Century Companies Inc. raised its holdings in Community Healthcare Trust by 5.5% during the second quarter. American Century Companies Inc. now owns 10,625 shares of the real estate investment trust’s stock worth $249,000 after purchasing an additional 552 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings 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 purchasing an additional 558 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Community Healthcare Trust by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,686 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 919 shares during the period. Finally, TBH Global Asset Management LLC grew its position in Community Healthcare Trust by 4.8% during the first quarter. TBH Global Asset Management LLC now owns 23,832 shares of the real estate investment trust’s stock worth $633,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Community Healthcare Trust Trading Down 0.1 %

CHCT stock opened at $17.44 on Thursday. Community Healthcare Trust Incorporated has a 52 week low of $15.06 and a 52 week high of $29.55. The company has a market capitalization of $483.11 million, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.13 and a beta of 0.69. The firm’s 50-day moving average is $17.63 and its two-hundred day moving average is $21.89.

Community Healthcare Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.4625 dividend. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.42. This represents a $1.85 dividend on an annualized basis and a dividend yield of 10.61%. The ex-dividend date was Friday, August 9th. Community Healthcare Trust’s payout ratio is presently 289.06%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CEO David H. Dupuy bought 10,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost 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 approximately $7,082,246.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert Z. Hensley acquired 6,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $19.50 per share, with a total value of $126,750.00. Following the completion of 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David H. Dupuy bought 10,000 shares of Community Healthcare Trust stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $19.48 per share, with a total value of $194,800.00. Following the completion of the purchase, the chief executive officer now directly owns 363,565 shares of the company’s stock, valued at approximately $7,082,246.20. The trade was 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.

About Community Healthcare Trust

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).