Phocas Financial Corp. Sells 17,625 Shares of Community Healthcare Trust Incorporated (NYSE:CHCT)

Key Points

• Phocas Financial Corp. reduced its stake in Community Healthcare Trust by 4.3%, now holding 392,007 shares valued at approximately $7.12 million.
• Community Healthcare Trust announced a quarterly dividend of $0.4725, reflecting a boost from its previous dividend, which corresponds to an annual yield of 12.3%.
• Despite reporting $0.50 earnings per share, the company missed the consensus estimate of $0.54 by 4 cents for the quarter ending July 29.

Phocas Financial Corp. decreased its position in Community Healthcare Trust Incorporated (NYSE:CHCT - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 392,007 shares of the real estate investment trust's stock after selling 17,625 shares during the period. Phocas Financial Corp. owned about 1.38% of Community Healthcare Trust worth $7,119,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Quarry LP acquired a new stake in shares of Community Healthcare Trust in the fourth quarter valued at about $88,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Community Healthcare Trust in the 4th quarter worth about $108,000. GAMMA Investing LLC raised its holdings in 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 valued at $119,000 after acquiring an additional 6,335 shares during the period. Lazard Asset Management LLC bought a new position in Community Healthcare Trust in the fourth quarter valued at $163,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Community Healthcare Trust by 50.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,002 shares of the real estate investment trust's stock valued at $163,000 after acquiring an additional 3,009 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler reiterated an "overweight" rating on shares of Community Healthcare Trust in a research note on Monday.

Community Healthcare Trust Stock Performance

Shares of CHCT traded down $0.07 during midday trading on Thursday, hitting $15.47. 122,761 shares of the stock traded hands, compared to its average volume of 241,425. The business's 50 day moving average price is $16.56 and its two-hundred day moving average price is $17.39. The firm has a market capitalization of $438.83 million, a PE ratio of -39.64 and a beta of 0.69. Community Healthcare Trust Incorporated has a 1-year low of $14.76 and a 1-year high of $20.87.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $30.13 million during the quarter, compared to analyst estimates of $30.22 million. As a group, equities research analysts forecast that Community Healthcare Trust Incorporated will post 1.85 EPS for the current fiscal year.

Community Healthcare Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a dividend of $0.4725 per share. This is a positive change from Community Healthcare Trust's previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a yield of 12.2%. The ex-dividend date of this dividend is Friday, August 8th. Community Healthcare Trust's dividend payout ratio is -482.05%.

Insider Transactions at Community Healthcare Trust

In other news, Director Horn R. Lawrence Van bought 11,815 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average price of $16.37 per share, with a total value of $193,411.55. Following the transaction, the director owned 88,502 shares of the company's stock, valued at approximately $1,448,777.74. The trade was a 15.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.10% of the company's stock.

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.