State of New Jersey Common Pension Fund D Has $6.62 Million Stake in Community Healthcare Trust Incorporated (NYSE:CHCT)

State of New Jersey Common Pension Fund D increased its stake in shares of Community Healthcare Trust Incorporated (NYSE:CHCT) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 248,354 shares of the real estate investment trust’s stock after purchasing an additional 19,711 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Community Healthcare Trust were worth $6,616,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CHCT. SG Americas Securities LLC acquired a new stake in shares of Community Healthcare Trust during the 3rd quarter worth approximately $339,000. State of Alaska Department of Revenue raised its position in Community Healthcare Trust by 5.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,452 shares of the real estate investment trust’s stock valued at $814,000 after purchasing an additional 1,330 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Community Healthcare Trust by 150.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 36,994 shares of the real estate investment trust’s stock valued at $1,099,000 after buying an additional 22,240 shares during the period. Manning & Napier Group LLC increased its stake in shares of Community Healthcare Trust by 17.2% in the 3rd quarter. Manning & Napier Group LLC now owns 171,249 shares of the real estate investment trust’s stock valued at $5,086,000 after buying an additional 25,136 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Community Healthcare Trust by 19.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,100 shares of the real estate investment trust’s stock worth $330,000 after purchasing an additional 1,809 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

CHCT has been the subject of a number of analyst reports. Truist Financial decreased their price objective on Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Piper Sandler decreased their target price on Community Healthcare Trust from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Finally, Evercore ISI decreased their target price on Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Community Healthcare Trust has a consensus rating of “Hold” and a consensus price target of $33.67.

Community Healthcare Trust Trading Up 2.7 %

NYSE:CHCT traded up $0.68 on Friday, hitting $26.33. The company’s stock had a trading volume of 98,918 shares, compared to its average volume of 176,583. Community Healthcare Trust Incorporated has a one year low of $24.50 and a one year high of $37.15. The stock has a fifty day moving average of $26.28 and a two-hundred day moving average of $26.71. The firm has a market capitalization of $729.08 million, a P/E ratio of 125.38, a price-to-earnings-growth ratio of 1.33 and a beta of 0.65.

Community Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.46 dividend. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.84 annualized dividend and a dividend yield of 6.99%. Community Healthcare Trust’s dividend payout ratio is presently 871.43%.

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 our target sub-markets throughout the United States. As of December 31, 2023, the Company had investments of approximately $1.1 billion in 193 real estate properties (including a portion of one property accounted for as a sales-type lease and two properties classified as held for sale).