CareTrust REIT (NYSE:CTRE – Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02, Zacks reports. CareTrust REIT had a return on equity of 8.52% and a net margin of 62.19%. The business had revenue of $176.36 million for the quarter.
CareTrust REIT Price Performance
CareTrust REIT stock traded down $0.71 during mid-day trading on Thursday, hitting $37.24. 2,266,938 shares of the company were exchanged, compared to its average volume of 2,465,470. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57. The business’s 50 day simple moving average is $37.30 and its two-hundred day simple moving average is $38.98. The company has a market capitalization of $8.80 billion, a P/E ratio of 19.87, a PEG ratio of 1.35 and a beta of 0.77. CareTrust REIT has a 12-month low of $34.55 and a 12-month high of $43.62.
CareTrust REIT Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.56 annualized dividend and a yield of 4.2%. CareTrust REIT’s dividend payout ratio (DPR) is presently 98.11%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on CTRE shares. Raymond James Financial reduced their price objective on CareTrust REIT from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, October 5th. UBS Group lowered their target price on CareTrust REIT from $48.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings cut CareTrust REIT from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, October 12th. JPMorgan Chase & Co. started coverage on CareTrust REIT in a research note on Friday, October 16th. They set a “neutral” rating and a $41.00 price target for the company. Finally, KeyCorp reaffirmed an “overweight” rating on shares of CareTrust REIT in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.64.
View Our Latest Report on CareTrust REIT
Institutional Trading of CareTrust REIT
Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in CareTrust REIT in the 2nd quarter valued at about $1,643,290,000. Deutsche Bank AG purchased a new position in CareTrust REIT in the 2nd quarter valued at about $143,963,000. Dimensional Fund Advisors LP lifted its holdings in CareTrust REIT by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,333,252 shares of the company’s stock valued at $122,164,000 after purchasing an additional 61,417 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in CareTrust REIT in the 2nd quarter valued at about $102,162,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of CareTrust REIT by 35,170.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,411,896 shares of the company’s stock worth $56,970,000 after purchasing an additional 1,407,893 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
About CareTrust REIT
CareTrust REIT, Inc is a healthcare-focused real estate investment trust that owns, acquires, and manages properties used by healthcare providers. Its portfolio primarily includes skilled nursing facilities, assisted living communities, independent living facilities, and other senior housing and healthcare-related properties.
The company generally leases its properties to healthcare operators under long-term, often triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property-level expenses such as taxes, insurance, and maintenance, while CareTrust focuses on owning and managing the underlying real estate and supporting its operating partners.
CareTrust was formed in 2014 through the spin-off of healthcare properties from The Ensign Group.
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