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. Investors of record on Friday, May 10th will be given a dividend of 0.46 per share by the real estate investment trust on Friday, May 24th. This represents a $1.84 annualized dividend and a dividend yield of 7.53%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.46.

Community Healthcare Trust has increased its dividend by an average of 11.6% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Community Healthcare Trust has a dividend payout ratio of 204.4% meaning 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 $2.36 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 78.0%.

Community Healthcare Trust Stock Performance

Shares of CHCT opened at $24.43 on Tuesday. The stock has a fifty day moving average price of $26.06 and a two-hundred day moving average price of $26.53. Community Healthcare Trust has a 52-week low of $24.21 and a 52-week high of $36.74. The company has a market cap of $676.71 million, a price-to-earnings ratio of 38.17, a PEG ratio of 1.39 and a beta of 0.64.

Analyst Ratings Changes

Several brokerages have recently issued reports on CHCT. Piper Sandler reaffirmed a “neutral” rating and set a $26.00 price target (down previously from $36.00) on shares of Community Healthcare Trust in a research note on Wednesday, May 1st. Truist Financial lowered their price target on shares of Community Healthcare Trust from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. Finally, Evercore ISI dropped their price target on shares of Community Healthcare Trust from $32.00 to $30.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.33.

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).