Community Healthcare Trust Incorporated (NYSE:CHCT) Plans Dividend Increase – $0.46 Per Share

Community Healthcare Trust Incorporated (NYSE:CHCT) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.46 per share by the real estate investment trust on Friday, May 24th. This represents a $1.84 annualized dividend and a dividend yield of 6.99%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.46.

Community Healthcare Trust has increased its dividend by an average of 2.3% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Community Healthcare Trust has a payout ratio of 203.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Community Healthcare Trust to earn $2.56 per share next year, which means the company should continue to be able to cover its $1.83 annual dividend with an expected future payout ratio of 71.5%.

Community Healthcare Trust Price Performance

NYSE CHCT traded up $0.68 on Friday, hitting $26.33. 98,918 shares of the company were exchanged, compared to its average volume of 176,583. Community Healthcare Trust has a twelve month low of $24.50 and a twelve month high of $37.15. 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. The company’s 50 day moving average price is $26.32 and its 200-day moving average price is $26.72.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial lowered their target price on Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. Evercore ISI lowered their price objective on shares of Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Finally, Piper Sandler cut their target price on shares of Community Healthcare Trust from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.67.

Community Healthcare Trust Company Profile

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).