Community Healthcare Trust Incorporated (NYSE:CHCT) to Issue Quarterly Dividend of $0.46

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

Community Healthcare Trust has raised its dividend by an average of 2.3% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Community Healthcare Trust has a 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. 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 $1.83 annual dividend with an expected future payout ratio of 77.5%.

Community Healthcare Trust Price Performance

Community Healthcare Trust stock opened at $26.33 on Friday. Community Healthcare Trust has a 12 month low of $24.50 and a 12 month high of $37.15. The company has a market cap of $729.08 million, a price-to-earnings ratio of 125.38, a price-to-earnings-growth ratio of 1.47 and a beta of 0.65. The stock’s 50-day moving average is $26.28 and its 200-day moving average is $26.71.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CHCT. Evercore ISI dropped 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 report on Tuesday, April 16th. Piper Sandler reduced their price objective on Community Healthcare Trust from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Finally, Truist Financial decreased their target price on 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average 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).