Community Healthcare Trust Incorporated (NYSE:CHCT) Declares Dividend of $0.46

Community Healthcare Trust Incorporated (NYSE:CHCT) announced a dividend on Thursday, July 25th, NASDAQ reports. Investors of record on Friday, August 9th will be given a dividend of 0.4625 per share by the real estate investment trust on Friday, August 23rd. The ex-dividend date of this dividend 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 payment by an average of 11.6% annually over the last three years. Community Healthcare Trust has a 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 CHCT traded up $0.99 on Friday, reaching $27.14. The company’s stock had a trading volume of 190,509 shares, compared to its average volume of 184,178. Community Healthcare Trust has a twelve month low of $22.03 and a twelve month high of $36.71. The stock has a market capitalization of $751.64 million, a PE ratio of 40.91, a PEG ratio of 1.59 and a beta of 0.68. The firm has a fifty day moving average of $23.83 and a 200-day moving average of $25.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $26.00 target price (down previously from $36.00) on shares of Community Healthcare Trust in a report on Wednesday, May 1st. Evercore ISI lowered their target price on shares of Community Healthcare Trust from $29.00 to $27.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Finally, Truist Financial lowered their target price on shares of Community Healthcare Trust from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, June 17th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Community Healthcare Trust currently has a consensus 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).