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. Shareholders of record on Friday, May 10th will be given 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 is Thursday, May 9th. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.46.

Community Healthcare Trust has increased its dividend 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. 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 %

Shares of CHCT stock traded up $0.68 during trading hours on Friday, reaching $26.33. 99,123 shares of the company’s stock were exchanged, compared to its average volume of 176,583. Community Healthcare Trust has a 1 year low of $24.50 and a 1 year high of $37.15. The stock has a market cap of $729.08 million, a PE ratio of 125.38, a PEG ratio of 1.33 and a beta of 0.65. The stock’s fifty day moving average price is $26.32 and its two-hundred day moving average price is $26.72.

Analyst Ratings Changes

A number of brokerages have issued reports on CHCT. Truist Financial decreased their price target on Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, January 16th. Piper Sandler decreased their price target on Community Healthcare Trust from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Finally, Evercore ISI decreased their price target on Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently 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).