CareTrust REIT (NASDAQ:CTRE) Issues Quarterly Earnings Results

CareTrust REIT (NASDAQ:CTRE) released its earnings results on Thursday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29), Zacks reports. The business had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a return on equity of 5.04% and a net margin of 27.47%. During the same quarter in the previous year, the firm posted $0.35 EPS.

CareTrust REIT Stock Up 0.8 %

NASDAQ CTRE traded up $0.22 during trading hours on Friday, hitting $27.39. The company had a trading volume of 2,348,839 shares, compared to its average volume of 1,359,122. The firm’s 50 day moving average is $25.79 and its 200 day moving average is $24.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 12.80 and a quick ratio of 12.80. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 53.46 and a beta of 1.09. CareTrust REIT has a fifty-two week low of $19.43 and a fifty-two week high of $27.94.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 annualized dividend and a yield of 4.24%. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CTRE shares. Wedbush started coverage on CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 target price on the stock. KeyCorp upped their target price on CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft increased their price target on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Finally, Wells Fargo & Company increased their price target on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.29.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.