BlackRock Inc. Invests $48.22 Million in Community Healthcare Trust Incorporated $CHCT

Key Points

• BlackRock acquired 2.64 million CHCT shares worth approximately $48.2 million, giving it a 9.23% stake. Institutional investors and hedge funds collectively own 87.84% of the REIT.
• Company insiders also increased their positions, with the CEO purchasing 10,000 shares and a director buying 8,000 shares. Insiders now own 5.30% of CHCT.
• CHCT faces mixed financial and market signals: quarterly EPS of $0.06 missed the $0.11 estimate, shares opened at $14.72, and analysts maintain a consensus “Hold” rating with an $18.50 target price. The stock pays a $1.32 annualized dividend, yielding about 9.0%.

BlackRock Inc. bought a new position in shares of Community Healthcare Trust Incorporated (NYSE:CHCT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,637,919 shares of the real estate investment trust's stock, valued at approximately $48,221,000. BlackRock Inc. owned approximately 9.23% of Community Healthcare Trust at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kennedy Capital Management LLC lifted its stake in Community Healthcare Trust by 26.5% in the fourth quarter. Kennedy Capital Management LLC now owns 1,019,810 shares of the real estate investment trust's stock valued at $16,745,000 after buying an additional 213,349 shares in the last quarter. Sei Investments Co. increased its position in shares of Community Healthcare Trust by 34.1% during the first quarter. Sei Investments Co. now owns 360,542 shares of the real estate investment trust's stock worth $5,729,000 after acquiring an additional 91,740 shares in the last quarter. Systematic Financial Management LP raised its holdings in shares of Community Healthcare Trust by 3.6% during the fourth quarter. Systematic Financial Management LP now owns 1,123,736 shares of the real estate investment trust's stock worth $18,452,000 after acquiring an additional 38,532 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Community Healthcare Trust by 55.1% during the first quarter. Quantinno Capital Management LP now owns 53,958 shares of the real estate investment trust's stock worth $857,000 after acquiring an additional 19,176 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Community Healthcare Trust in the 1st quarter valued at $461,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Community Healthcare Trust

In other Community Healthcare Trust news, CEO David H. Dupuy bought 10,000 shares of Community Healthcare Trust stock in a transaction dated 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 completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Z. Hensley purchased 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $15.21 per share, for a total transaction of $121,680.00. Following the completion of the purchase, the director directly owned 103,702 shares of the company's stock, valued at $1,577,307.42. This represents a 8.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 5.30% of the company's stock.

Wall Street Analysts Forecast Growth

CHCT has been the topic of several recent research reports. Wall Street Zen downgraded Community Healthcare Trust from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Huntington began coverage on shares of Community Healthcare Trust in a research report on Friday, July 17th. They issued an "outperform" rating and a $20.00 target price for the company. Piper Sandler lowered their price target on shares of Community Healthcare Trust from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings raised shares of Community Healthcare Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, June 12th. Finally, Truist Financial increased their price objective on shares of Community Healthcare Trust from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.50.

Community Healthcare Trust Trading Down 1.5%

Shares of NYSE CHCT opened at $14.72 on Tuesday. The company has a market capitalization of $421.73 million, a P/E ratio of 21.97 and a beta of 0.71. Community Healthcare Trust Incorporated has a 12 month low of $13.23 and a 12 month high of $19.17. The stock has a 50 day moving average of $17.07 and a 200-day moving average of $17.04.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) last announced its quarterly earnings results 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 business 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%. Analysts predict that Community Healthcare Trust Incorporated will post 1.87 EPS for the current fiscal year.

Community Healthcare Trust Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.0%. Community Healthcare Trust's dividend payout ratio (DPR) is currently 197.01%.

Community Healthcare Trust Profile

Community Healthcare Trust Incorporated NYSE: CHCT is a real estate investment trust that specializes in owning and leasing healthcare-related properties. The company's portfolio is focused primarily on senior housing and care facilities, including skilled nursing centers, assisted living communities, memory care units, independent living apartments and continuing care retirement communities. Through long‐term, triple‐net leases, Community Healthcare Trust seeks stable, predictable cash flows by partnering with experienced operators that manage day-to-day resident care and property operations.

As of the latest reporting, Community Healthcare Trust's holdings span multiple regions across the United States, with properties located in both urban and suburban markets.

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