Several other equities analysts also recently issued reports on the company. BMO Capital Markets lifted their price objective on Caretrust REIT from $22.00 to $25.00 and gave the company an outperform rating in a research report on Tuesday, April 9th. Zacks Investment Research upgraded Caretrust REIT from a sell rating to a hold rating in a research report on Friday, April 5th. Finally, Raymond James upgraded Caretrust REIT from an outperform rating to a strong-buy rating in a research report on Tuesday, January 8th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Caretrust REIT presently has an average rating of Buy and an average price target of $21.14.
Shares of CTRE opened at $24.57 on Friday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.64. Caretrust REIT has a 52-week low of $13.73 and a 52-week high of $24.69. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 19.20 and a beta of 0.91.
Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). Caretrust REIT had a net margin of 36.91% and a return on equity of 8.52%. The business had revenue of $40.36 million during the quarter, compared to the consensus estimate of $39.99 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Caretrust REIT will post 1.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.225 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from Caretrust REIT’s previous quarterly dividend of $0.21. Caretrust REIT’s payout ratio is presently 70.31%.
Several hedge funds have recently added to or reduced their stakes in CTRE. Copper Rock Capital Partners LLC bought a new stake in shares of Caretrust REIT during the first quarter worth $24,926,000. American Century Companies Inc. raised its position in shares of Caretrust REIT by 62.6% during the fourth quarter. American Century Companies Inc. now owns 1,844,731 shares of the real estate investment trust’s stock worth $34,054,000 after acquiring an additional 710,291 shares during the last quarter. Weiss Multi Strategy Advisers LLC raised its position in shares of Caretrust REIT by 78.0% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 1,424,040 shares of the real estate investment trust’s stock worth $26,288,000 after acquiring an additional 624,040 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Caretrust REIT during the fourth quarter worth $32,000. Finally, Vanguard Group Inc raised its position in shares of Caretrust REIT by 4.7% during the third quarter. Vanguard Group Inc now owns 11,880,091 shares of the real estate investment trust’s stock worth $210,397,000 after acquiring an additional 538,327 shares during the last quarter. Institutional investors own 88.65% 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.
Featured Story: Trading Strategy Examples and Plans
Receive News & Ratings for Caretrust REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caretrust REIT and related companies with MarketBeat.com's FREE daily email newsletter.