Chartwell Retirement Residences (TSE:CSH.UN) Sets New 12-Month High After 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 company traded as high as C$17.12 and last traded at C$17.12, with a volume of 130763 shares traded. The stock had previously closed at C$16.52.

The newly announced dividend which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be issued a $0.051 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.61 dividend on an annualized basis and a yield of 3.64%. Chartwell Retirement Residences’s dividend payout ratio is presently -358.82%.

Wall Street Analyst Weigh In

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

Chartwell Retirement Residences Stock Up 1.4 %

The firm has a market cap of C$4.56 billion, a P/E ratio of -98.82 and a beta of 1.12. The company’s 50-day simple moving average is C$15.83 and its 200 day simple moving average is C$15.49. The company has a debt-to-equity ratio of 192.20, a current ratio of 0.43 and a quick ratio of 0.07.

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.