Community Healthcare Trust (CHCT) Downgraded by Zacks Investment Research

Community Healthcare Trust (NYSE:CHCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Community Healthcare Trust Incorporated is engaged in the acquisition of properties which are leased to hospitals, doctors, healthcare systems or other healthcare service providers. Community Healthcare Trust Incorporated is based in Franklin, United States. “

CHCT has been the subject of a number of other reports. ValuEngine raised shares of Community Healthcare Trust from a “hold” rating to a “buy” rating in a research report on Thursday, June 28th. SunTrust Banks reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Community Healthcare Trust in a research report on Thursday, August 9th. Finally, B. Riley upped their price objective on shares of Community Healthcare Trust from $28.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, August 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $31.75.

Shares of CHCT stock opened at $29.35 on Wednesday. Community Healthcare Trust has a 52-week low of $22.41 and a 52-week high of $32.81. The stock has a market capitalization of $563.84 million, a price-to-earnings ratio of 20.82 and a beta of 0.80.

Several institutional investors have recently added to or reduced their stakes in CHCT. Northern Trust Corp grew its position in shares of Community Healthcare Trust by 2.4% during the 1st quarter. Northern Trust Corp now owns 219,298 shares of the real estate investment trust’s stock valued at $5,645,000 after acquiring an additional 5,161 shares during the period. BlackRock Inc. grew its position in shares of Community Healthcare Trust by 3.2% during the 1st quarter. BlackRock Inc. now owns 2,634,830 shares of the real estate investment trust’s stock valued at $67,821,000 after acquiring an additional 82,160 shares during the period. Sei Investments Co. grew its position in shares of Community Healthcare Trust by 80.2% during the 1st quarter. Sei Investments Co. now owns 119,071 shares of the real estate investment trust’s stock valued at $3,065,000 after acquiring an additional 52,993 shares during the period. State of Tennessee Treasury Department bought a new position in shares of Community Healthcare Trust during the 1st quarter valued at approximately $318,000. Finally, Citadel Advisors LLC bought a new position in shares of Community Healthcare Trust during the 1st quarter valued at approximately $301,000. 90.90% of the stock is owned by hedge funds and other institutional investors.

About Community Healthcare Trust

Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in non-urban markets throughout the United States. The Company had investments of approximately $416.8 million in 91 real estate properties as of June 30, 2018, located in 27 states, totaling approximately 2.1 million square feet.

Featured Story: Asset Allocation Models, Which is Right For You?

Get a free copy of the Zacks research report on Community Healthcare Trust (CHCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Community Healthcare Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Healthcare Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply