Community Healthcare Trust REIT Blasts Higher


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Propelled by the Federal Reserve’s decision to keep the interest rate increase at 0.25%, many real estate investment trusts (REITs) are heading higher.

Community Healthcare Trust Inc. CHCT is one of the best movers, having gone from $30 in late September to its current price of $43.

That’s a 43% gain in just over four months, one of the most substantial increases over that time among the publicly traded REITs. 

Community Healthcare Trust is headquartered in Franklin, Tennessee, and owns a portfolio of medical office buildings, behavioral facilities, physicians' offices and inpatient rehabilitation facilities. Some of the properties include Parkway Professional Plaza in Lakeland, Florida; the DaVita Dialysis Center in Pahrump, Nevada; and Glastonbury Wellness Center in Glastonbury, Connecticut. 

Funds from operations (FFO) in 2022 increased by 8.6%, and FFO growth over the past five years came to 29.3%. The REIT is trading with a price-earnings (P/E) ratio of 50 and a forward P/E of 39. Community Healthcare’s market capitalization is $1.09 billion, on the smaller side for a New York Stock Exchange-listed real estate investment trust.

It’s a relatively lightly traded REIT with an average daily volume of 119,000. 

Community Healthcare pays a dividend of 5.08%.

Janney analysts in January upgraded their opinion of the REIT from Neutral to Buy with a price target of $44. 

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The daily price chart looks like this:

You can see how much the REIT has rallied since its lows in September and October. It’s a good look that the 50-day moving average (the blue line) has crossed above the 200-day moving average (the red line). It might be concerning that the relative strength indicator (RSI) below the price chart is in the Overbought range.


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The weekly chart is here:

The price is approaching the all-time highs of mid-2021 that were near $48, but it’s taken a long time. The REIT trades above an uptrending 200-week moving average and above a 50-day moving average that appears to be turning upward. 

Not investment advice. For educational purposes only.

 

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