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

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

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock traded down $0.10 during trading on Monday, hitting $24.87. 951,149 shares of the company’s stock traded hands, compared to its average volume of 1,340,060. The stock has a market capitalization of $3.53 billion, a P/E ratio of 48.02 and a beta of 1.03. The business has a 50-day simple moving average of $23.87 and a 200-day simple moving average of $22.79. CareTrust REIT has a 1 year low of $18.18 and a 1 year 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.

CareTrust REIT Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CTRE. Deutsche Bank Aktiengesellschaft began coverage on shares of CareTrust REIT in a research report on Tuesday, January 30th. They issued a hold rating and a $23.00 price target for the company. Royal Bank of Canada lowered their price objective on CareTrust REIT from $25.00 to $24.00 and set an outperform rating on the stock in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, CareTrust REIT has a consensus rating of Moderate Buy and an average price target of $23.57.

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.