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

Community Healthcare Trust Incorporated (NYSE:CHCT) declared a quarterly dividend on Thursday, February 13th, RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.4675 per share by the real estate investment trust on Wednesday, March 5th. This represents a $1.87 dividend on an annualized basis and a yield of 9.94%. The ex-dividend date is Monday, February 24th. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.47.

Community Healthcare Trust has raised its dividend payment by an average of 2.3% annually over the last three years. Community Healthcare Trust has a dividend payout ratio of 359.6% 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 analysts expect Community Healthcare Trust to earn $1.97 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 94.9%.

Community Healthcare Trust Stock Performance

Shares of CHCT stock opened at $18.81 on Friday. The business has a 50 day moving average of $19.32 and a two-hundred day moving average of $18.46. Community Healthcare Trust has a 52 week low of $15.06 and a 52 week high of $27.73.

Community Healthcare Trust (NYSE:CHCT) last issued its earnings results on Tuesday, February 18th. The real estate investment trust reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Community Healthcare Trust had a negative return on equity of 0.65% and a negative net margin of 2.75%. The company had revenue of $29.30 million during the quarter, compared to the consensus estimate of $29.85 million. On average, research analysts forecast that Community Healthcare Trust will post 1.85 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on CHCT shares. Truist Financial lifted their target price on Community Healthcare Trust from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler lifted their price target on Community Healthcare Trust from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, StockNews.com raised Community Healthcare Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Community Healthcare Trust has an average rating of “Hold” and an average price target of $21.25.

About Community Healthcare Trust

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.