Caretrust REIT (NASDAQ:CTRE) announced its quarterly earnings results on Thursday. The real estate investment trust reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.34 by ($0.45), Fidelity Earnings reports. The firm 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 business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. Caretrust REIT updated its FY20 guidance to $1.36 to $1.38 EPS.
CTRE stock traded down $0.96 during 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 market capitalization of $2.16 billion, a price-to-earnings ratio of 16.02 and a beta of 0.66. Caretrust REIT has a 12 month low of $17.71 and a 12 month high of $25.54. The business has a 50 day simple moving average of $23.52 and a 200 day simple moving average of $23.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 0.97.
The business also recently disclosed a — dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.225 per share. This represents a yield of 3.9%. The ex-dividend date was Friday, September 27th. Caretrust REIT’s payout ratio is currently 70.31%.
Several brokerages have recently commented on CTRE. Zacks Investment Research upgraded Caretrust REIT from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday. Barclays started coverage on Caretrust REIT in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $26.00 price objective on the stock. Berenberg Bank started coverage on Caretrust REIT in a research report on Thursday, September 12th. They set a “buy” rating and a $29.00 price objective on the stock. ValuEngine downgraded Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Capital One Financial raised Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus 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.
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