Community Healthcare Trust (NYSE:CHCT) Stock Price Target Cut by Piper Sandler

Key Points

• Piper Sandler lowered Community Healthcare Trust’s price target from $17 to $14 while maintaining a “neutral” rating, implying only 2.89% upside from the prior close. Analysts overall give the stock a “Hold” consensus with a $17 average target.
• CHCT shares traded at $13.61, below both their 50-day ($14.75) and 200-day ($16.54) moving averages. The REIT’s latest quarterly results missed expectations, with earnings per share of $0.06 versus a $0.11 consensus and revenue of $30.97 million versus $31.77 million expected.
• Company insiders recently bought shares: a director purchased $121,680 worth and the CEO bought $151,300 worth. Institutional investors own 87.84% of the company, while insiders hold 5.30%.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) had its target price cut by investment analysts at Piper Sandler from $17.00 to $14.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's target price indicates a potential upside of 2.89% from the company's previous close.

CHCT has been the topic of several other reports. Huntington initiated coverage on Community Healthcare Trust in a research report on Friday, July 17th. They issued an "outperform" rating and a $20.00 target price on the stock. Truist Financial reduced their price target on Community Healthcare Trust from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Friday. Finally, Weiss Ratings lowered Community Healthcare Trust from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $17.00.

Community Healthcare Trust Stock Performance

Shares of NYSE:CHCT traded down $0.00 during trading hours on Monday, hitting $13.61. The stock had a trading volume of 13,851 shares, compared to its average volume of 269,819. The stock's fifty day simple moving average is $14.75 and its 200 day simple moving average is $16.54. The firm has a market capitalization of $389.84 million, a price-to-earnings ratio of 20.30 and a beta of 0.68. Community Healthcare Trust has a 1-year low of $13.23 and a 1-year high of $19.17.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.05). The business had revenue of $30.97 million for the quarter, compared to the consensus estimate of $31.77 million. Community Healthcare Trust had a net margin of 16.81% and a return on equity of 4.96%. As a group, research analysts anticipate that Community Healthcare Trust will post 1.87 EPS for the current year.

Insider Buying and Selling

In other Community Healthcare Trust news, Director Robert Z. Hensley bought 8,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $15.21 per share, with a total value of $121,680.00. Following the completion of the purchase, the director directly owned 103,702 shares in the company, valued at approximately $1,577,307.42. This trade represents a 8.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO David H. Dupuy bought 10,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $15.13 per share, with a total value of $151,300.00. Following the completion of the purchase, the chief executive officer owned 557,262 shares of the company's stock, valued at approximately $8,431,374.06. The trade was a 1.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Community Healthcare Trust during the 2nd quarter worth $27,000. Legal & General Group Plc acquired a new position in shares of Community Healthcare Trust in the 2nd quarter worth $51,000. Quantbot Technologies LP acquired a new stake in shares of Community Healthcare Trust during the second quarter worth $58,000. PVG Asset Management Corp acquired a new stake in shares of Community Healthcare Trust during the second quarter worth $189,000. Finally, State of Wyoming acquired a new stake in shares of Community Healthcare Trust during the second quarter worth $226,000. Institutional investors own 87.84% of the company's stock.

About Community Healthcare Trust

Community Healthcare Trust Incorporated is a real estate investment trust focused on owning and operating healthcare-related properties. The company primarily invests in facilities that provide outpatient healthcare services, including medical office buildings, physician clinics, specialty facilities, behavioral health properties, ambulatory surgery centers and other healthcare-focused real estate.

Community Healthcare Trust generally targets properties located in non-urban and underserved communities across the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.