Community Healthcare Trust Incorporated (CHCT) To Go Ex-Dividend on May 9th

Community Healthcare Trust Incorporated (NYSE:CHCT) declared a quarterly dividend on Thursday, April 25th, NASDAQ reports. Shareholders 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 6.99%. The ex-dividend date is Thursday, May 9th. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.46.

Community Healthcare Trust has increased its dividend payment by an average of 2.3% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Community Healthcare Trust has a dividend 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. 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 Stock Performance

Shares of CHCT opened at $26.33 on Friday. The stock has a market capitalization of $729.08 million, a PE ratio of 125.38, a P/E/G ratio of 1.47 and a beta of 0.65. Community Healthcare Trust has a 1 year low of $24.50 and a 1 year high of $37.15. The company’s 50-day simple moving average is $26.28 and its 200-day simple moving average is $26.71.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI cut their price target 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. Piper Sandler decreased their price objective on shares of Community Healthcare Trust from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Finally, Truist Financial cut their price target on Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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).