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 annualized dividend and a dividend yield of 9.40%. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.47.

Community Healthcare Trust has increased its dividend by an average of 2.3% per year over the last three years. Community Healthcare Trust has a dividend 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 $19.89 on Friday. Community Healthcare Trust has a one year low of $15.06 and a one year high of $28.10. The company has a 50-day moving average of $19.19 and a two-hundred day moving average of $18.60. The stock has a market cap of $561.81 million, a price-to-earnings ratio of -221.04, a PEG ratio of 1.35 and a beta of 0.69.

Analyst Upgrades and Downgrades

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