Community Healthcare Trust Incorporated (NYSE:CHCT) Increases Dividend to $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 dividend on an annualized basis 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 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 dividend 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 Stock Performance

NYSE CHCT traded up $0.68 during trading on Friday, hitting $26.33. The stock had a trading volume of 98,918 shares, compared to its average volume of 176,583. The company 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. Community Healthcare Trust has a 12 month low of $24.50 and a 12 month high of $37.15. The company’s 50-day moving average price is $26.32 and its two-hundred day moving average price is $26.72.

Analysts Set New Price Targets

Several research analysts recently commented on CHCT shares. Truist Financial reduced their target price on shares of Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, January 16th. Evercore ISI reduced their price objective on shares of Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Finally, Piper Sandler decreased their price objective 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Community Healthcare Trust presently has a consensus rating of “Hold” and an average price target of $33.67.

About Community Healthcare Trust

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).