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

Community Healthcare Trust Incorporated (NYSE:CHCT) announced 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 7.53%. The ex-dividend date is Thursday, May 9th. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.46.

Community Healthcare Trust has increased its dividend payment by an average of 11.6% per year over the last three years and has raised its dividend every year for the last 2 years. Community Healthcare Trust has a dividend payout ratio of 204.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Community Healthcare Trust to earn $2.36 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 78.0%.

Community Healthcare Trust Trading Up 0.2 %

Shares of NYSE CHCT opened at $24.43 on Tuesday. The firm has a 50 day moving average of $26.06 and a 200 day moving average of $26.53. The firm has a market capitalization of $676.71 million, a price-to-earnings ratio of 38.17, a price-to-earnings-growth ratio of 1.39 and a beta of 0.64. Community Healthcare Trust has a 12-month low of $24.21 and a 12-month high of $36.74.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CHCT. Evercore ISI dropped their price target on shares of Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Piper Sandler reiterated a “neutral” rating and issued a $26.00 price target (down from $36.00) on shares of Community Healthcare Trust in a research report on Wednesday, May 1st. Finally, Truist Financial dropped their price target on shares of Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.33.

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).