Oppenheimer Starts Community Healthcare Trust (CHCT) at Outperform

Oppenheimer initiates coverage on Community Healthcare Trust (NYSE: CHCT) with a Outperform rating and a price target of $21.00.

Analyst Steve Manaker commented, "We initiate coverage of CHCT with an Outperform rating and a 12-18-month $21 PT, implying 18% total upside (with an annual 7.9% dividend yield). CHCT is an internally managed healthcare REIT following an expansion strategy that came public in May 2015. The portfolio is planned to consist of 35 assets in small to mid-sized markets with a focus on buildings under $10 million that are off-market or lightly marketed. CHCT's target markets are outside the scope of institutional investors, meaning less competition. The key for us is not just management's ability to underwrite the real estate but also the importance of a tenant's place in the local healthcare ecosystem."

For an analyst ratings summary and ratings history on Community Healthcare Trust click here. For more ratings news on Community Healthcare Trust click here.

Shares of Community Healthcare Trust closed at $18.96 yesterday.

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Truist Securities Starts Matthews International (MATW) at Hold, 'We see risk/reward as more balanced'
• Deere (DE) PT Lowered to $728 at UBS as Agricultural Machinery Cycle Gets Closer