CareTrust REIT, Inc. (NASDAQ:CTRE) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01), Bloomberg Earnings reports. CareTrust REIT had a net margin of 24.02% and a return on equity of 5.76%. The company had revenue of $32.90 million during the quarter, compared to analysts’ expectations of $32.91 million. During the same period last year, the firm earned $0.28 earnings per share. CareTrust REIT’s revenue was up 21.4% on a year-over-year basis. CareTrust REIT updated its FY17 guidance to $1.16-1.17 EPS.
Shares of CareTrust REIT (NASDAQ CTRE) traded down $0.74 during trading hours on Thursday, hitting $18.77. 810,545 shares of the stock were exchanged, compared to its average volume of 543,432. CareTrust REIT has a 1-year low of $12.93 and a 1-year high of $19.86. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1,480.00, a PE ratio of 17.07, a price-to-earnings-growth ratio of 4.20 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a $0.185 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.94%. CareTrust REIT’s payout ratio is 160.87%.
A number of equities research analysts recently weighed in on CTRE shares. Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price target (up from $17.00) on shares of CareTrust REIT in a research report on Thursday. Zacks Investment Research raised shares of CareTrust REIT from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Tuesday, October 24th. BidaskClub raised shares of CareTrust REIT from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. KeyCorp reissued a “buy” rating and issued a $20.00 price target on shares of CareTrust REIT in a research report on Friday, August 25th. Finally, Capital One Financial Corporation reaffirmed an “equal weight” rating and issued a $21.00 target price on shares of CareTrust REIT in a report on Sunday, October 22nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.38.
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CareTrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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