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

Community Healthcare Trust Incorporated (NYSE:CHCT) announced a quarterly dividend on Thursday, October 24th, NASDAQ reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.465 per share by the real estate investment trust on Friday, November 22nd. This represents a $1.86 annualized dividend and a dividend yield of 9.87%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Community Healthcare Trust’s previous quarterly dividend of $0.42.

Community Healthcare Trust has increased its dividend by an average of 11.6% per year over the last three years. Community Healthcare Trust has a dividend payout ratio of 465.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Community Healthcare Trust to earn $1.80 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 103.3%.

Community Healthcare Trust Price Performance

NYSE:CHCT opened at $18.85 on Thursday. The firm has a market capitalization of $532.32 million, a price-to-earnings ratio of -209.44, a PEG ratio of 1.27 and a beta of 0.67. The business has a 50 day simple moving average of $17.41 and a 200-day simple moving average of $21.10. Community Healthcare Trust has a 1 year low of $15.06 and a 1 year high of $29.16.

Community Healthcare Trust (NYSE:CHCT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.39). Community Healthcare Trust had a negative return on equity of 0.09% and a negative net margin of 0.39%. The company had revenue of $29.64 million during the quarter, compared to the consensus estimate of $29.06 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. As a group, analysts expect that Community Healthcare Trust will post 1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on CHCT shares. Evercore ISI raised Community Healthcare Trust from an “underperform” rating to an “inline” rating and cut their price objective for the company from $21.00 to $18.00 in a research report on Monday, September 16th. Truist Financial lowered their price objective on shares of Community Healthcare Trust from $30.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 30th. StockNews.com lowered Community Healthcare Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Robert W. Baird cut their target price on shares of Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Piper Sandler boosted their price target on Community Healthcare Trust from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Community Healthcare Trust currently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.