Community Healthcare Trust (NYSE:CHCT) Trading 8.9% Higher - Here's What Happened

Community Healthcare Trust Incorporated (NYSE:CHCT - Get Free Report)'s share price was up 8.9% during mid-day trading on Friday . The stock traded as high as $18.25 and last traded at $18.25. Approximately 67,714 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 275,796 shares. The stock had previously closed at $16.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler decreased their price objective on Community Healthcare Trust from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, September 9th. StockNews.com downgraded shares of Community Healthcare Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, August 20th. Truist Financial decreased their target price on shares of Community Healthcare Trust from $30.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Evercore ISI raised shares of Community Healthcare Trust from an "underperform" rating to an "inline" rating and dropped their price target for the stock from $21.00 to $18.00 in a research note on Monday, September 16th. Finally, Robert W. Baird reduced their price objective on Community Healthcare Trust from $29.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Community Healthcare Trust has a consensus rating of "Hold" and a consensus price target of $20.75.

Community Healthcare Trust Stock Performance

The company's 50 day moving average price is $17.51 and its 200 day moving average price is $21.57. The company has a market cap of $487.54 million, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.13 and a beta of 0.69.

Community Healthcare Trust Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.465 dividend. The ex-dividend date is Friday, November 8th. This is a boost from Community Healthcare Trust's previous dividend of $0.42. Community Healthcare Trust's payout ratio is currently 289.06%.

Insider Transactions at Community Healthcare Trust

In related news, Director Robert Z. Hensley bought 6,500 shares of Community Healthcare Trust stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $19.50 per share, for a total transaction of $126,750.00. Following the acquisition, the director now owns 70,670 shares in the company, valued at $1,378,065. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Community Healthcare Trust news, CEO David H. Dupuy purchased 10,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $19.48 per share, with a total value of $194,800.00. Following the transaction, the chief executive officer now directly owns 363,565 shares in the company, valued at approximately $7,082,246.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert Z. Hensley purchased 6,500 shares of the business's stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $19.50 per share, with a total value of $126,750.00. Following the completion of the acquisition, the director now owns 70,670 shares of the company's stock, valued at approximately $1,378,065. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Community Healthcare Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its position in Community Healthcare Trust by 5,664.3% in the 1st quarter. Janus Henderson Group PLC now owns 590,442 shares of the real estate investment trust's stock worth $15,676,000 after purchasing an additional 580,199 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Community Healthcare Trust in the 1st quarter valued at approximately $7,835,000. Graham Capital Wealth Management LLC bought a new stake in shares of Community Healthcare Trust in the 3rd quarter worth approximately $2,650,000. Russell Investments Group Ltd. grew its holdings in shares of Community Healthcare Trust by 27.8% during the 1st quarter. Russell Investments Group Ltd. now owns 364,844 shares of the real estate investment trust's stock worth $9,687,000 after purchasing an additional 79,421 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its position in shares of Community Healthcare Trust by 18.1% during the second quarter. Deprince Race & Zollo Inc. now owns 428,730 shares of the real estate investment trust's stock valued at $10,028,000 after purchasing an additional 65,642 shares during the period. Institutional investors own 87.84% 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.