Community Healthcare Trust Incorporated (NYSE:CHCT) Raises Dividend to $0.46 Per Share

Community Healthcare Trust Incorporated (NYSE:CHCT) announced a quarterly 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. This represents a $1.85 annualized dividend and a dividend yield of 6.82%. The ex-dividend date is Friday, August 9th. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42.

Community Healthcare Trust has raised its dividend by an average of 11.6% annually over the last three years. Community Healthcare Trust has a payout ratio of 242.1% 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 $2.20 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 opened at $27.14 on Friday. Community Healthcare Trust has a 1 year low of $22.03 and a 1 year high of $36.71. The business has a fifty day simple moving average of $23.88 and a 200 day simple moving average of $25.24. The firm has a market cap of $751.64 million, a price-to-earnings ratio of 42.40, a P/E/G ratio of 1.59 and a beta of 0.68.

Wall Street Analyst Weigh In

CHCT has been the subject of several recent research reports. Truist Financial cut their price objective on Community Healthcare Trust from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, June 17th. Evercore ISI cut their price objective on Community Healthcare Trust from $29.00 to $27.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $26.00 price objective (down from $36.00) on shares of Community Healthcare Trust in a report on Wednesday, May 1st. Four investment 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 an average rating of “Hold” and an average 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).