CareTrust REIT (NASDAQ:CTRE) Issues FY 2024 Earnings Guidance

CareTrust REIT (NASDAQ:CTRE) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.420-1.440 for the period, compared to the consensus estimate of 1.520. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CTRE. Royal Bank of Canada decreased their price target on CareTrust REIT from $25.00 to $24.00 and set an outperform rating for the company in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft began coverage on CareTrust REIT in a research report on Tuesday, January 30th. They set a hold rating and a $23.00 target price for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $23.57.

CareTrust REIT Stock Performance

Shares of CTRE traded down $0.10 during trading hours on Monday, hitting $24.87. The company’s stock had a trading volume of 951,149 shares, compared to its average volume of 1,340,060. The business has a 50 day simple moving average of $23.87 and a two-hundred day simple moving average of $22.79. CareTrust REIT has a 52-week low of $18.18 and a 52-week high of $26.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 12.80 and a quick ratio of 12.80. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 48.02 and a beta of 1.03.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.16 annualized dividend and a dividend yield of 4.66%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s dividend payout ratio is currently 223.08%.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.