According to Zacks, “CareTrust REIT, Inc. is a real estate investment trust. It is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company leases healthcare facilities to healthcare operators in triple-net lease arrangements. CareTrust REIT, Inc. is based in United States. “
CTRE has been the subject of a number of other research reports. BidaskClub upgraded Caretrust REIT from a sell rating to a hold rating in a research report on Thursday, May 28th. TheStreet lowered Caretrust REIT from a b- rating to a c+ rating in a research report on Thursday, April 2nd. Raymond James upgraded Caretrust REIT from a market perform rating to an outperform rating and set a $19.00 price objective for the company in a research report on Wednesday, April 29th. Berenberg Bank lowered Caretrust REIT from a buy rating to a hold rating and set a $24.00 price objective for the company. in a research report on Friday, February 28th. Finally, Mizuho upgraded Caretrust REIT from an underperform rating to a neutral rating and cut their price objective for the company from $19.00 to $13.00 in a research report on Monday, April 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $21.88.
Shares of CTRE stock opened at $17.55 on Monday. Caretrust REIT has a 52-week low of $7.16 and a 52-week high of $24.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $1.74 billion, a PE ratio of 33.75 and a beta of 1.04. The stock has a fifty day simple moving average of $18.43 and a two-hundred day simple moving average of $19.04.
Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.14). Caretrust REIT had a return on equity of 5.32% and a net margin of 29.53%. The business had revenue of $44.34 million during the quarter, compared to analysts’ expectations of $43.20 million. On average, sell-side analysts forecast that Caretrust REIT will post 1.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.00 annualized dividend and a yield of 5.70%. Caretrust REIT’s dividend payout ratio is currently 73.53%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PGGM Investments bought a new stake in Caretrust REIT in the first quarter worth about $131,631,000. FMR LLC lifted its stake in Caretrust REIT by 70.5% in the fourth quarter. FMR LLC now owns 5,546,279 shares of the real estate investment trust’s stock worth $114,420,000 after purchasing an additional 2,293,115 shares during the last quarter. State Street Corp lifted its stake in Caretrust REIT by 13.8% in the first quarter. State Street Corp now owns 4,187,061 shares of the real estate investment trust’s stock worth $62,906,000 after purchasing an additional 506,995 shares during the last quarter. Invesco Ltd. lifted its stake in Caretrust REIT by 7.4% in the first quarter. Invesco Ltd. now owns 3,793,259 shares of the real estate investment trust’s stock worth $56,102,000 after purchasing an additional 262,354 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Caretrust REIT by 40.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,461,019 shares of the real estate investment trust’s stock worth $71,401,000 after purchasing an additional 1,001,693 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.
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.
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