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 EPS guidance of 1.420-1.440 for the period, compared to the consensus EPS estimate of 1.520. The company issued revenue guidance of -.

CareTrust REIT Stock Down 0.4 %

CTRE stock 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 company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3.53 billion, a PE ratio of 48.02 and a beta of 1.03. CareTrust REIT has a 12 month low of $18.18 and a 12 month high of $26.43. The stock has a 50 day moving average price of $23.87 and a two-hundred day moving average price of $22.79.

CareTrust REIT Increases Dividend

The firm 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. This represents a $1.16 annualized dividend and a yield of 4.66%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 27th. CareTrust REIT’s dividend payout ratio is presently 223.08%.

Analyst Ratings Changes

Several research firms have recently issued reports 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 note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft started 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus 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.