Community Healthcare Trust Incorporated (NYSE:CHCT) Raises Dividend to $0.47 Per Share

Community Healthcare Trust Incorporated (NYSE:CHCT) announced a dividend on Thursday, October 24th, NASDAQ reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.465 per share by the real estate investment trust on Friday, November 22nd. The ex-dividend date is Friday, November 8th. 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 payout ratio of 500.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Community Healthcare Trust to earn $1.79 per share next year, which means the company may not be able to cover its $1.85 annual dividend with an expected future payout ratio of 103.4%.

Community Healthcare Trust Trading Up 5.0 %

CHCT stock traded up $0.84 during midday trading on Friday, reaching $17.60. 510,112 shares of the company’s stock traded hands, compared to its average volume of 277,934. Community Healthcare Trust has a 52-week low of $15.06 and a 52-week high of $29.16. The stock has a market cap of $487.54 million, a P/E ratio of 28.20, a PEG ratio of 1.13 and a beta of 0.69. The stock’s 50-day moving average is $17.51 and its 200 day moving average is $21.57.

Insider Activity at Community Healthcare Trust

In related news, Director Robert Z. Hensley bought 6,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $19.50 per share, with a total value of $126,750.00. Following the completion of the purchase, the director now owns 70,670 shares of the company’s stock, valued at approximately $1,378,065. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Community Healthcare Trust news, Director Robert Z. Hensley acquired 6,500 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $19.50 per share, for a total transaction of $126,750.00. Following the completion of the transaction, the director now directly owns 70,670 shares of the company’s stock, valued at $1,378,065. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David H. Dupuy acquired 10,000 shares of the stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $19.48 per share, with a total value of $194,800.00. Following the transaction, the chief executive officer now directly owns 363,565 shares of the company’s stock, valued at $7,082,246.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHCT. StockNews.com cut shares of Community Healthcare Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. Piper Sandler reduced their price objective on shares of Community Healthcare Trust from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Evercore ISI raised shares of Community Healthcare Trust from an “underperform” rating to an “inline” rating and reduced their price objective for the stock from $21.00 to $18.00 in a research note on Monday, September 16th. Robert W. Baird reduced their price objective on shares of Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Truist Financial reduced their price objective on shares of Community Healthcare Trust from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.75.

Community Healthcare Trust Company Profile

Community Healthcare Trust Incorporated (the Company”, we”, our”) was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers.