CareTrust REIT, Inc. (NYSE:CTRE – Get Free Report) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.39 per share on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 30th.
CareTrust REIT has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. CareTrust REIT has a dividend payout ratio of 102.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CareTrust REIT to earn $2.27 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 68.7%.
CareTrust REIT Stock Up 0.9%
Shares of CTRE opened at $38.43 on Wednesday. The firm has a fifty day moving average price of $40.39 and a 200-day moving average price of $39.69. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $9.08 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.51 and a beta of 0.76. CareTrust REIT has a 12-month low of $32.79 and a 12-month high of $43.62.
Institutional Investors Weigh In On CareTrust REIT
Several institutional investors have recently added to or reduced their stakes in CTRE. Persistent Asset Partners Ltd purchased a new stake in CareTrust REIT during the 2nd quarter worth approximately $31,000. Compass Financial Management LLC purchased a new position in shares of CareTrust REIT in the second quarter worth $34,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of CareTrust REIT in the fourth quarter worth $44,000. Burnham & Co LLC acquired a new stake in shares of CareTrust REIT during the second quarter worth $61,000. Finally, Allworth Financial LP acquired a new stake in shares of CareTrust REIT during the second quarter worth $66,000. Institutional investors and hedge funds own 87.77% of the company’s stock.
CareTrust REIT Company Profile
CareTrust REIT, Inc is a healthcare-focused real estate investment trust that owns and manages a portfolio of healthcare-related properties across the United States. The company primarily invests in properties that are leased to healthcare operators under long-term, typically triple-net lease agreements.
CareTrust’s portfolio includes skilled nursing facilities, assisted living facilities, independent living communities, memory care properties and other healthcare-related real estate. Its tenants are responsible for operating the facilities and generally cover property-level expenses such as taxes, insurance and maintenance under the terms of the leases.
CareTrust was established in 2014 through a separation from The Ensign Group, a healthcare services company.
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