CareTrust REIT, Inc. (CTRE) Announces Earnings Results, Misses Expectations By $0.01 EPS

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.

Earnings History for CareTrust REIT (NASDAQ:CTRE)

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