Chartwell Retirement Residences (TSE:CSH.UN) Reaches New 12-Month High Following Dividend Announcement

Chartwell Retirement Residences (TSE:CSH.UN)’s share price reached a new 52-week high on Friday after the company announced a dividend. The stock traded as high as C$17.12 and last traded at C$17.12, with a volume of 130763 shares trading hands. The stock had previously closed at C$16.52.

The newly announced dividend which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be paid a $0.051 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.61 annualized dividend and a yield of 3.58%. Chartwell Retirement Residences’s dividend payout ratio is currently -358.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CSH.UN shares. BMO Capital Markets set a C$18.00 price target on shares of Chartwell Retirement Residences and gave the stock an “outperform” rating in a research note on Thursday, January 30th. CIBC upped their target price on shares of Chartwell Retirement Residences from C$16.50 to C$19.00 in a report on Monday, November 18th. Finally, TD Securities upped their target price on shares of Chartwell Retirement Residences from C$18.00 to C$19.00 and gave the company a “buy” rating in a report on Monday, November 18th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$17.21.

Chartwell Retirement Residences Stock Performance

The stock’s 50-day moving average is C$15.80 and its 200-day moving average is C$15.48. The stock has a market cap of C$4.64 billion, a price-to-earnings ratio of -100.65 and a beta of 1.12. The company has a current ratio of 0.43, a quick ratio of 0.07 and a debt-to-equity ratio of 192.20.

Chartwell Retirement Residences Company Profile

Chartwell Retirement Residences is an unincorporated open-ended trust. The company is engaged in the ownership, operation, and management of retirement and long-term care communities in Canada. It operates its retirement and long-term care facilities separately. The Retirement Operations segment consists of communities that the company owns and operates in Canada.