Caretrust REIT (NASDAQ:CTRE) posted its earnings results on Thursday. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.45), Fidelity Earnings reports. The company had revenue of $33.31 million for the quarter, compared to analysts’ expectations of $43.64 million. Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. Caretrust REIT updated its FY20 guidance to $1.36 to $1.38 EPS.
CTRE stock traded down $0.96 during mid-day trading on Friday, reaching $20.51. 3,289,200 shares of the company traded hands, compared to its average volume of 886,366. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.97 and a quick ratio of 0.97. The company has a fifty day moving average price of $23.52 and a 200-day moving average price of $23.84. The company has a market capitalization of $2.16 billion, a P/E ratio of 16.02 and a beta of 0.66. Caretrust REIT has a 52-week low of $17.71 and a 52-week high of $25.54.
The business also recently announced a — dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.225 per share. This represents a yield of 3.9%. The ex-dividend date of this dividend was Friday, September 27th. Caretrust REIT’s payout ratio is presently 70.31%.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Caretrust REIT from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday. Capital One Financial raised Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a report on Wednesday, August 21st. Berenberg Bank assumed coverage on Caretrust REIT in a report on Thursday, September 12th. They set a “buy” rating and a $29.00 target price for the company. Barclays assumed coverage on Caretrust REIT in a report on Tuesday, September 3rd. They set an “overweight” rating and a $26.00 target price for the company. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 target price on shares of Caretrust REIT in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Caretrust REIT currently has an average rating of “Buy” and an average target price of $25.50.
About Caretrust REIT
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
Further Reading: Fundamental Analysis
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