119,001 Shares of Community Healthcare Trust Incorporated $CHCT Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 119,001 shares of Community Healthcare Trust in the second quarter, worth approximately $2.175 million, while institutional investors collectively owned 87.84% of the REIT.
• Company insiders also increased their holdings: CEO David Dupuy bought 10,000 shares and Director Robert Hensley purchased 8,000 shares. Analysts’ consensus rating remains “Hold”, with an average price target of $18.50.
• CHCT reported quarterly EPS of $0.06, below the $0.11 consensus estimate, and reduced its quarterly dividend to $0.33 per share from $0.48. The new annualized dividend is $1.32, representing a 9.3% yield.

Bank of America Corp DE acquired a new position in Community Healthcare Trust Incorporated (NYSE:CHCT - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 119,001 shares of the real estate investment trust's stock, valued at approximately $2,175,000. Bank of America Corp DE owned 0.42% of Community Healthcare Trust at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHCT. Odyssean LLC increased its holdings in Community Healthcare Trust by 18.1% during the second quarter. Odyssean LLC now owns 31,238 shares of the real estate investment trust's stock valued at $571,000 after buying an additional 4,779 shares during the period. Man Group plc purchased a new stake in Community Healthcare Trust during the second quarter worth $1,072,000. Palisade Capital Management LP bought a new stake in Community Healthcare Trust during the 2nd quarter valued at $3,881,000. Legal & General Group Plc bought a new stake in Community Healthcare Trust during the 2nd quarter valued at $51,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Community Healthcare Trust in the 2nd quarter valued at $403,000. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David H. Dupuy purchased 10,000 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average price of $15.13 per share, with a total value of $151,300.00. Following the transaction, the chief executive officer owned 557,262 shares in the company, valued at $8,431,374.06. The trade was a 1.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Z. Hensley purchased 8,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were purchased at an average cost of $15.21 per share, with a total value of $121,680.00. Following the transaction, the director owned 103,702 shares in the company, valued at $1,577,307.42. This trade represents a 8.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 5.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial boosted their price target on Community Healthcare Trust from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Piper Sandler dropped their price objective on Community Healthcare Trust from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Community Healthcare Trust in a research note on Wednesday, September 9th. Finally, Huntington initiated coverage on shares of Community Healthcare Trust in a report on Friday, July 17th. They issued an "outperform" rating and a $20.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Community Healthcare Trust has an average rating of "Hold" and a consensus target price of $18.50.

Community Healthcare Trust Stock Performance

Shares of CHCT stock opened at $14.18 on Thursday. Community Healthcare Trust Incorporated has a fifty-two week low of $13.23 and a fifty-two week high of $19.17. The firm has a market capitalization of $406.31 million, a price-to-earnings ratio of 21.16 and a beta of 0.69. The stock's 50-day simple moving average is $15.46 and its 200-day simple moving average is $16.66.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.05). The company had revenue of $30.97 million for the quarter, compared to analyst estimates 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, equities analysts forecast that Community Healthcare Trust Incorporated will post 1.87 earnings per share for the current year.

Community Healthcare Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.3%. This is a drop from Community Healthcare Trust's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Wednesday, August 19th. Community Healthcare Trust's dividend payout ratio is presently 197.01%.

Community Healthcare Trust Profile

Community Healthcare Trust Incorporated NYSE: CHCT is a real estate investment trust focused on owning healthcare-related properties across the United States. The company primarily targets facilities located in non-urban and underserved communities, where healthcare providers often require specialized outpatient and community-based real estate.

Its portfolio has included outpatient clinics, physician office buildings, specialty healthcare facilities, behavioral health properties, hospitals, and other properties used by healthcare providers.

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