CTRE has been the topic of a number of other research reports. ValuEngine cut Caretrust REIT from a buy rating to a hold rating in a research note on Thursday, August 1st. Capital One Financial upgraded Caretrust REIT from an equal weight rating to an overweight rating and set a $25.00 price target on the stock in a research note on Wednesday, August 21st. Zacks Investment Research cut Caretrust REIT from a hold rating to a strong sell rating in a research note on Monday, August 19th. Barclays initiated coverage on Caretrust REIT in a research note on Tuesday, September 3rd. They set an overweight rating and a $26.00 price objective on the stock. Finally, BMO Capital Markets restated a buy rating and set a $26.00 price objective on shares of Caretrust REIT in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $25.22.
Shares of NASDAQ:CTRE traded down $0.11 during midday trading on Friday, reaching $23.55. The company’s stock had a trading volume of 319,853 shares, compared to its average volume of 767,641. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 18.40 and a beta of 0.67. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56. Caretrust REIT has a 1 year low of $16.68 and a 1 year high of $25.54. The business has a 50 day moving average price of $23.55 and a 200 day moving average price of $23.84.
Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.14). Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The firm had revenue of $46.20 million for the quarter, compared to analysts’ expectations of $43.23 million. During the same period last year, the firm posted $0.33 EPS. Caretrust REIT’s revenue was up 18.6% on a year-over-year basis. Sell-side analysts anticipate that Caretrust REIT will post 1.35 earnings per share for the current fiscal year.
The company also recently declared a — dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.225 per share. This represents a yield of 3.9%. The ex-dividend date is Friday, September 27th. Caretrust REIT’s payout ratio is currently 70.31%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new position in Caretrust REIT during the second quarter worth $36,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Caretrust REIT in the second quarter valued at about $71,000. Meridian Wealth Management LLC acquired a new stake in shares of Caretrust REIT in the second quarter valued at about $95,000. Russell Investments Group Ltd. acquired a new stake in shares of Caretrust REIT in the second quarter valued at about $146,000. Finally, Nvwm LLC acquired a new stake in shares of Caretrust REIT in the second quarter valued at about $151,000. 88.57% of the stock is owned by hedge funds and other institutional investors.
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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