Bank of New York Mellon Corp Decreases Position in Community Healthcare Trust Incorporated (NYSE:CHCT)

Bank of New York Mellon Corp decreased its stake in shares of Community Healthcare Trust Incorporated (NYSE:CHCT - Free Report) by 24.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 333,435 shares of the real estate investment trust's stock after selling 108,908 shares during the quarter. Bank of New York Mellon Corp owned about 1.18% of Community Healthcare Trust worth $6,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC boosted its holdings in shares of Community Healthcare Trust by 136.1% in the 4th quarter. Signaturefd LLC now owns 1,570 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 905 shares during the period. Quarry LP purchased a new position in Community Healthcare Trust during the fourth quarter worth $88,000. KLP Kapitalforvaltning AS purchased a new position in Community Healthcare Trust during the fourth quarter worth $108,000. GAMMA Investing LLC boosted its stake in shares of Community Healthcare Trust by 2,866.5% during the 1st quarter. GAMMA Investing LLC now owns 6,556 shares of the real estate investment trust's stock worth $119,000 after purchasing an additional 6,335 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Community Healthcare Trust during the 4th quarter worth about $163,000. Institutional investors own 87.84% of the company's stock.

Community Healthcare Trust Stock Performance

Community Healthcare Trust stock traded up $0.15 during mid-day trading on Friday, reaching $16.55. 277,630 shares of the company were exchanged, compared to its average volume of 239,738. The business has a fifty day moving average of $16.64 and a 200 day moving average of $17.57. Community Healthcare Trust Incorporated has a 12-month low of $14.76 and a 12-month high of $27.62. The firm has a market cap of $468.97 million, a P/E ratio of -53.38 and a beta of 0.73.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. Community Healthcare Trust had a negative net margin of 4.51% and a negative return on equity of 1.10%. The business had revenue of $29.73 million during the quarter, compared to analysts' expectations of $29.71 million. Sell-side analysts predict that Community Healthcare Trust Incorporated will post 1.85 EPS for the current year.

Community Healthcare Trust Increases Dividend

The company 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 is Friday, August 8th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 11.42%. This is a positive change from Community Healthcare Trust's previous quarterly dividend of $0.47. Community Healthcare Trust's dividend payout ratio is currently -609.68%.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their target price on Community Healthcare Trust from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Community Healthcare Trust presently has a consensus rating of "Hold" and an average target price of $21.00.

Insider Activity at Community Healthcare Trust

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