Community Healthcare Trust (NYSE:CHCT) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• Community Healthcare Trust reported earnings of $0.50 per share, missing the consensus estimate of $0.54 by $0.04, with a notable negative return on equity of 1.10%.
• The company announced an increase in its quarterly dividend to $0.4725 per share, resulting in an annualized yield of 11.63%.
• Analysts have mixed views on the stock, with Piper Sandler lowering its target price from $19.00 to $18.00, and the stock currently has a consensus target price of $21.00.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04), Zacks reports. Community Healthcare Trust had a negative return on equity of 1.10% and a negative net margin of 4.51%.

Community Healthcare Trust Trading Down 0.7%

CHCT stock traded down $0.11 during trading on Tuesday, hitting $16.25. The company had a trading volume of 743,735 shares, compared to its average volume of 233,023. The firm has a market capitalization of $460.53 million, a price-to-earnings ratio of -52.42 and a beta of 0.73. The business has a 50 day moving average of $16.64 and a 200 day moving average of $17.55. Community Healthcare Trust has a fifty-two week low of $14.76 and a fifty-two week high of $27.62.

Community Healthcare Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a $0.4725 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.89 annualized dividend and a yield of 11.63%. This is an increase from Community Healthcare Trust's previous quarterly dividend of $0.47. Community Healthcare Trust's dividend payout ratio is presently -606.45%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their target price on shares of Community Healthcare Trust from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $21.00.

Insider Activity

In other Community Healthcare Trust news, Director Cathrine Cotman purchased 3,000 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average cost of $17.10 per share, for a total transaction of $51,300.00. Following the completion of the transaction, the director owned 23,861 shares in the company, valued at $408,023.10. The trade was a 14.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Horn R. Lawrence Van purchased 11,815 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was acquired at an average price of $16.37 per share, for a total transaction of $193,411.55. Following the completion of the transaction, the director owned 88,502 shares of the company's stock, valued at $1,448,777.74. This represents a 15.41% increase in their position. The disclosure for this purchase can be found here. 5.10% of the stock is currently owned by insiders.

Institutional Trading of Community Healthcare Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Community Healthcare Trust by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 252,492 shares of the real estate investment trust's stock valued at $4,585,000 after purchasing an additional 3,697 shares during the period. Jane Street Group LLC grew its stake in shares of Community Healthcare Trust by 339.7% in the 1st quarter. Jane Street Group LLC now owns 89,755 shares of the real estate investment trust's stock valued at $1,630,000 after buying an additional 69,343 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Community Healthcare Trust by 18.6% in the 1st quarter. AQR Capital Management LLC now owns 43,689 shares of the real estate investment trust's stock valued at $793,000 after buying an additional 6,856 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Community Healthcare Trust in the 1st quarter valued at approximately $231,000. 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.

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