Community Healthcare Trust Incorporated (NYSE:CHCT) Raises Dividend to $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 dividend on an annualized basis and a yield of 7.48%. The ex-dividend date of this dividend 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% annually over the last three years and has raised its dividend annually for the last 2 consecutive 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. Equities 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 0.7 %

CHCT stock opened at $24.59 on Wednesday. Community Healthcare Trust has a one year low of $24.21 and a one year high of $36.72. The firm has a 50-day moving average of $26.02 and a two-hundred day moving average of $26.50. The firm has a market capitalization of $681.14 million, a PE ratio of 38.42, a P/E/G ratio of 1.39 and a beta of 0.64.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CHCT. Evercore ISI dropped their target price 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. Truist Financial cut 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 research report on Tuesday, January 16th. Finally, Piper Sandler restated a “neutral” rating and set a $26.00 price target (down from $36.00) on shares of Community Healthcare Trust in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Community Healthcare Trust presently has a consensus rating of “Hold” and a consensus target price of $30.33.

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).