Community Healthcare Trust Incorporated (NYSE:CHCT) Announces Dividend Increase – $0.47 Per Share

Community Healthcare Trust Incorporated (NYSE:CHCT) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Monday, February 24th will be given a dividend of 0.4675 per share by the real estate investment trust on Wednesday, March 5th. This represents a $1.87 annualized dividend and a yield of 9.40%. The ex-dividend date is Monday, February 24th. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.47.

Community Healthcare Trust has increased its dividend by an average of 2.3% annually over the last three years. Community Healthcare Trust has a payout ratio of 357.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Community Healthcare Trust to earn $1.85 per share next year, which means the company may not be able to cover its $1.86 annual dividend with an expected future payout ratio of 100.5%.

Community Healthcare Trust Price Performance

Shares of CHCT opened at $19.90 on Friday. The company’s 50-day moving average is $19.23 and its 200-day moving average is $18.55. Community Healthcare Trust has a fifty-two week low of $15.06 and a fifty-two week high of $28.10.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CHCT shares. Truist Financial increased their price objective on shares of Community Healthcare Trust from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. StockNews.com raised shares of Community Healthcare Trust from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Finally, Piper Sandler increased their price objective on shares of Community Healthcare Trust from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.25.

Community Healthcare Trust Company Profile

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.