Norges Bank Invests $678,000 in Community Healthcare Trust Incorporated (NYSE:CHCT)

Norges Bank purchased a new stake in Community Healthcare Trust Incorporated (NYSE:CHCT) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 35,300 shares of the real estate investment trust’s stock, valued at approximately $678,000.

Several other hedge funds also recently modified their holdings of CHCT. Signaturefd LLC raised its position in Community Healthcare Trust by 136.1% in the fourth quarter. Signaturefd LLC now owns 1,570 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 905 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Community Healthcare Trust in the fourth quarter valued at approximately $108,000. SG Americas Securities LLC increased its stake in shares of Community Healthcare Trust by 10.5% in the fourth quarter. SG Americas Securities LLC now owns 10,791 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 1,021 shares during the period. PNC Financial Services Group Inc. raised its holdings in Community Healthcare Trust by 20.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,934 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 1,828 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Community Healthcare Trust during the 3rd quarter worth approximately $229,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Community Healthcare Trust Price Performance

Community Healthcare Trust stock opened at $14.93 on Friday. The firm has a market cap of $423.16 million, a P/E ratio of -64.92, a P/E/G ratio of 1.28 and a beta of 0.65. The stock’s 50 day moving average is $18.34 and its 200 day moving average is $18.45. Community Healthcare Trust Incorporated has a one year low of $14.76 and a one year high of $27.62.

Community Healthcare Trust (NYSE:CHCT) last issued its quarterly earnings results on Tuesday, February 18th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Community Healthcare Trust had a negative net margin of 2.75% and a negative return on equity of 0.65%. The firm had revenue of $29.30 million for the quarter, compared to the consensus estimate of $29.85 million. Equities analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.4675 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.87 dividend on an annualized basis and a yield of 12.52%. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.47. Community Healthcare Trust’s dividend payout ratio is -813.04%.

Analysts Set New Price Targets

Several brokerages have issued reports on CHCT. Truist Financial upped their price target on shares of Community Healthcare Trust from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. StockNews.com raised shares of Community Healthcare Trust from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $21.25.

Community Healthcare Trust 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.