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

Community Healthcare Trust Incorporated (NYSE:CHCT) declared a quarterly dividend on Thursday, April 25th, NASDAQ reports. Investors 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 yield of 6.99%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.46.

Community Healthcare Trust has raised its dividend payment by an average of 2.3% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Community Healthcare Trust has a dividend payout ratio of 203.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Trading Up 2.7 %

CHCT traded up $0.68 on Friday, hitting $26.33. 99,123 shares of the stock traded hands, compared to its average volume of 176,583. Community Healthcare Trust has a 52 week low of $24.50 and a 52 week high of $37.15. The firm has a market capitalization of $729.08 million, a PE ratio of 125.38, a P/E/G ratio of 1.33 and a beta of 0.65. The business has a fifty day moving average price of $26.32 and a two-hundred day moving average price of $26.72.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHCT. Truist Financial decreased their price objective on Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. Piper Sandler decreased their price objective on Community Healthcare Trust from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Finally, Evercore ISI decreased their price objective on Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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).