Community Healthcare Trust Inc (NYSE:CHCT) declared a quarterly dividend on Thursday, November 1st, NASDAQ reports. Investors of record on Friday, November 16th will be paid a dividend of 0.405 per share by the real estate investment trust on Friday, November 30th. This represents a $1.62 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Thursday, November 15th. This is an increase from Community Healthcare Trust’s previous quarterly dividend of $0.40.
Community Healthcare Trust has a dividend payout ratio of 97.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Community Healthcare Trust to earn $1.95 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 83.1%.
Shares of Community Healthcare Trust stock opened at $29.96 on Friday. The company has a market cap of $551.38 million, a P/E ratio of 21.25 and a beta of 0.79. Community Healthcare Trust has a twelve month low of $22.41 and a twelve month high of $32.81.
A number of analysts have commented on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $36.00 target price on shares of Community Healthcare Trust in a report on Thursday, August 9th. Zacks Investment Research raised shares of Community Healthcare Trust from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Friday, August 10th. B. Riley upped their target price on shares of Community Healthcare Trust from $28.00 to $32.00 and gave the company a “hold” rating in a report on Monday, August 13th. Finally, ValuEngine cut shares of Community Healthcare Trust from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Community Healthcare Trust has a consensus rating of “Buy” and an average price target of $31.75.
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About Community Healthcare Trust
Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in non-urban markets throughout the United States. The Company had investments of approximately $416.8 million in 91 real estate properties as of June 30, 2018, located in 27 states, totaling approximately 2.1 million square feet.
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