Community Healthcare Trust Incorporated (NYSE:CHCT) Plans 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 given a dividend of 0.465 per share by the real estate investment trust on Friday, November 22nd. This represents a $1.86 dividend on an annualized basis and a dividend yield of 9.87%. The ex-dividend date is Friday, November 8th. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42.

Community Healthcare Trust has raised its dividend by an average of 11.6% annually 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. Equities 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 Stock Up 0.4 %

Shares of CHCT opened at $18.85 on Thursday. The firm has a fifty day simple moving average of $17.41 and a two-hundred day simple moving average of $21.10. Community Healthcare Trust has a twelve month low of $15.06 and a twelve month high of $29.16. The stock has a market capitalization of $532.32 million, a P/E ratio of -209.44, a PEG ratio of 1.27 and a beta of 0.67.

Community Healthcare Trust (NYSE:CHCT) last announced 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 net margin of 0.39% and a negative return on equity of 0.09%. The business had revenue of $29.64 million for the quarter, compared to analysts’ expectations of $29.06 million. During the same quarter in the prior year, the firm earned $0.63 EPS. Sell-side analysts expect that Community Healthcare Trust will post 1.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CHCT has been the topic of several recent analyst reports. Piper Sandler lifted their price target on shares of Community Healthcare Trust from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Evercore ISI upgraded shares of Community Healthcare Trust from an “underperform” rating to an “inline” rating and decreased their price target for the stock from $21.00 to $18.00 in a research note on Monday, September 16th. Truist Financial dropped their price objective on shares of Community Healthcare Trust from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Robert W. Baird reduced their price objective on shares of Community Healthcare Trust from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Community Healthcare Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.