Cubist Systematic Strategies LLC Decreases Stock Position in Community Healthcare Trust Incorporated $CHCT

Key Points

• Cubist Systematic Strategies LLC significantly reduced its stake in Community Healthcare Trust, selling 90,569 shares and owning only 22,175 shares at the end of the first quarter.
• Despite a miss on earnings per share by ($0.04) and a negative return on equity, the company announced a quarterly dividend of $0.4725, yielding 12.2%.
• Analysts have recently adjusted their ratings, with Truist Financial lowering its price target and giving it a "buy" rating, while Zacks raised the stock's rating to "hold."

Cubist Systematic Strategies LLC reduced its position in Community Healthcare Trust Incorporated (NYSE:CHCT - Free Report) by 80.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,175 shares of the real estate investment trust's stock after selling 90,569 shares during the period. Cubist Systematic Strategies LLC owned about 0.08% of Community Healthcare Trust worth $403,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Community Healthcare Trust in the 1st quarter worth approximately $241,000. GSA Capital Partners LLP raised its holdings in Community Healthcare Trust by 235.9% in the 1st quarter. GSA Capital Partners LLP now owns 40,314 shares of the real estate investment trust's stock worth $732,000 after acquiring an additional 28,313 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Community Healthcare Trust by 15.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 21,506 shares of the real estate investment trust's stock worth $413,000 after acquiring an additional 2,883 shares during the last quarter. Invesco Ltd. raised its holdings in Community Healthcare Trust by 12.2% in the 1st quarter. Invesco Ltd. now owns 677,436 shares of the real estate investment trust's stock worth $12,302,000 after acquiring an additional 73,762 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Community Healthcare Trust by 132.8% during the 4th quarter. Nuveen Asset Management LLC now owns 670,215 shares of the real estate investment trust's stock valued at $12,875,000 after buying an additional 382,324 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHCT has been the subject of a number of research reports. Zacks Research upgraded shares of Community Healthcare Trust from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Piper Sandler reiterated an "overweight" rating on shares of Community Healthcare Trust in a research note on Monday, August 4th. Finally, Truist Financial decreased their target price on shares of Community Healthcare Trust from $23.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Community Healthcare Trust has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Community Healthcare Trust Stock Performance

Shares of CHCT stock traded down $0.04 during mid-day trading on Friday, reaching $15.70. 127,016 shares of the company's stock traded hands, compared to its average volume of 171,125. Community Healthcare Trust Incorporated has a 12 month low of $14.20 and a 12 month high of $20.87. The firm has a 50 day moving average price of $15.67 and a two-hundred day moving average price of $16.54. The firm has a market capitalization of $445.27 million, a PE ratio of -40.24 and a beta of 0.69.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). Community Healthcare Trust had a negative net margin of 6.25% and a negative return on equity of 1.59%. The business had revenue of $30.13 million for the quarter, compared to the consensus estimate of $30.22 million. As a group, equities analysts expect that Community Healthcare Trust Incorporated will post 1.85 earnings per share for the current fiscal year.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.4725 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.89 annualized dividend and a yield of 12.0%. This is an increase from Community Healthcare Trust's previous quarterly dividend of $0.47. Community Healthcare Trust's payout ratio is currently -484.62%.

Community Healthcare Trust Company Profile

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.