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

Chartwell Retirement Residences (TSE:CSH.UN)’s share price hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as C$17.12 and last traded at C$17.12, with a volume of 130763 shares changing 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 given a dividend of $0.051 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, February 28th. Chartwell Retirement Residences’s dividend payout ratio is presently -358.82%.

Analysts Set New Price Targets

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

Chartwell Retirement Residences Stock Up 3.6 %

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

About Chartwell Retirement Residences

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.