In a report released today, Bryan Maher from B.Riley FBR reiterated a Hold rating on Community Healthcare Trust (CHCT), with a price target of $32. The company’s shares closed yesterday at $29.50.
Maher observed:
“Community Healthcare Trust (CHCT) reported 3Q18 results that were in line with our expectations. Total revenue was $12.6M, up 33.5%, versus 3Q17, with rental income growing by 27.6% Y/Y . EBITDA (calculated as operating income plus D&A and deferred compensation) came in at $9.1M, representing 37.9% Y/Y growth, only slightly below our/consensus’ estimate of $9.2M. AFFO/share came in at $0.40, in line with our estimate of $0.40, although below consensus’ $0.43. Community Healthcare continues to be an active healthcare facility acquirer with $6.7M in assets acquired in 3Q18, with a large pipeline of assets currently in due diligence for the balance of 2018 and 2019. The company was also active from a balance sheet perspective, issuing roughly 234,000 shares under its at-the-market offering program.”
According to TipRanks.com, Maher is a 2-star analyst with an average return of 0.5% and a 51.9% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Government Properties Income Trust, and Senior Housing Properties Trust.
Currently, the analyst consensus on Community Healthcare Trust is a Moderate Buy with an average price target of $34.33.
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Based on Community Healthcare Trust’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $2.18 million. In comparison, last year the company had a net profit of $379K.
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Community Healthcare Trust, Inc. engages in the acquisition of real estate properties that are leased to hospitals, doctors, healthcare systems, and other healthcare services providers. It invests in healthcare properties including outpatient treatment and diagnostic facilities; urgent care centers; acute care hospitals; ambulatory surgery centers; assisted living and long-term care facilities; medical office buildings; clinics; specialty hospitals; and treatment centers. The company was founded by Timothy G. Wallace on March 28, 2014 and is headquartered in Franklin, TN.
