CareTrust REIT (NASDAQ:CTRE) Releases Quarterly Earnings Results

CareTrust REIT (NASDAQ:CTRE) released its earnings results on Thursday. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29), Zacks reports. CareTrust REIT had a net margin of 30.09% and a return on equity of 5.31%. The business had revenue of $68.89 million for the quarter, compared to the consensus estimate of $66.36 million. During the same period in the prior year, the company posted $0.35 EPS.

CareTrust REIT Trading Up 0.8 %

Shares of CareTrust REIT stock traded up $0.22 on Friday, reaching $27.39. The company had a trading volume of 2,348,859 shares, compared to its average volume of 1,120,113. The company has a debt-to-equity ratio of 0.36, a quick ratio of 12.80 and a current ratio of 12.80. The firm has a market cap of $3.89 billion, a PE ratio of 52.67 and a beta of 1.09. The firm’s 50 day moving average price is $25.83 and its two-hundred day moving average price is $24.27. CareTrust REIT has a 52-week low of $19.43 and a 52-week high of $27.94.

CareTrust REIT Announces Dividend

The business also recently disclosed 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 (DPR) is currently 223.08%.

Wall Street Analysts Forecast Growth

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