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

Community Healthcare Trust Incorporated (NYSE:CHCT) declared a dividend on Thursday, July 25th, NASDAQ reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.4625 per share by the real estate investment trust on Friday, August 23rd. The ex-dividend date is Friday, August 9th. This is a positive change from Community Healthcare Trust’s previous dividend of $0.42.

Community Healthcare Trust has raised its dividend by an average of 11.6% per year over the last three years. Community Healthcare Trust has a dividend payout ratio of 242.1% 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 $2.20 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 83.6%.

Community Healthcare Trust Trading Up 3.8 %

Shares of NYSE:CHCT traded up $0.99 on Friday, reaching $27.14. The company had a trading volume of 190,509 shares, compared to its average volume of 184,178. The firm has a market capitalization of $751.64 million, a PE ratio of 42.40, a PEG ratio of 1.59 and a beta of 0.68. Community Healthcare Trust has a 52-week low of $22.03 and a 52-week high of $36.71. The firm’s 50 day simple moving average is $23.83 and its 200-day simple moving average is $25.23.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $26.00 price objective (down previously from $36.00) on shares of Community Healthcare Trust in a research report on Wednesday, May 1st. Evercore ISI lowered their price objective on Community Healthcare Trust from $29.00 to $27.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Finally, Truist Financial lowered their price target on Community Healthcare Trust from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Four investment 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 company has an average rating of “Hold” and a consensus target price of $27.67.

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).