State Street Corp Decreases Stock Holdings in Community Healthcare Trust Incorporated (NYSE:CHCT)

State Street Corp cut its stake in Community Healthcare Trust Incorporated (NYSE:CHCT) by 38.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 934,723 shares of the real estate investment trust’s stock after selling 594,445 shares during the period. State Street Corp owned approximately 3.31% of Community Healthcare Trust worth $16,965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHCT. Systematic Financial Management LP raised its position in Community Healthcare Trust by 25.0% during the third quarter. Systematic Financial Management LP now owns 936,753 shares of the real estate investment trust’s stock worth $17,002,000 after acquiring an additional 187,510 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Community Healthcare Trust during the 3rd quarter worth approximately $240,000. Point72 DIFC Ltd acquired a new position in shares of Community Healthcare Trust during the 3rd quarter worth approximately $201,000. Point72 Asset Management L.P. purchased a new stake in shares of Community Healthcare Trust in the third quarter valued at $198,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Community Healthcare Trust during the third quarter valued at $280,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Community Healthcare Trust Stock Performance

NYSE:CHCT opened at $18.30 on Wednesday. The business’s 50-day simple moving average is $18.36 and its 200 day simple moving average is $19.74. Community Healthcare Trust Incorporated has a one year low of $15.06 and a one year high of $28.10. The stock has a market cap of $516.83 million, a price-to-earnings ratio of -203.33, a price-to-earnings-growth ratio of 1.24 and a beta of 0.68.

Community Healthcare Trust (NYSE:CHCT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.39). Community Healthcare Trust had a negative net margin of 0.39% and a negative return on equity of 0.09%. The firm had revenue of $29.64 million during the quarter, compared to the consensus estimate of $29.06 million. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities research analysts predict that Community Healthcare Trust Incorporated will post 1.84 EPS for the current year.

Community Healthcare Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.465 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. This represents a $1.86 annualized dividend and a dividend yield of 10.16%. Community Healthcare Trust’s payout ratio is -2,066.67%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHCT shares. Piper Sandler upped their target price on shares of Community Healthcare Trust from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Truist Financial increased their price target on Community Healthcare Trust from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Evercore ISI raised 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, September 16th. Finally, StockNews.com raised shares of Community Healthcare Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Community Healthcare Trust presently has an average rating of “Hold” and an average target price of $21.25.

Community Healthcare Trust Company Profile

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.