CareTrust REIT (NASDAQ:CTRE) Issues Quarterly Earnings Results

CareTrust REIT (NASDAQ:CTRE) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29), Zacks reports. The company 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 period in the previous year, the business posted $0.35 earnings per share.

CareTrust REIT Price Performance

Shares of CTRE traded up $0.22 on Friday, reaching $27.39. The stock had a trading volume of 2,348,859 shares, compared to its average volume of 1,359,122. CareTrust REIT has a twelve month low of $19.43 and a twelve month high of $27.94. The firm has a market capitalization of $3.89 billion, a PE ratio of 53.46 and a beta of 1.09. The firm has a 50-day moving average of $25.79 and a 200 day moving average of $24.24. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36.

CareTrust REIT Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. KeyCorp boosted their price target on shares of CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Wedbush assumed coverage on shares of CareTrust REIT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.29.

About CareTrust REIT

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.