CareTrust REIT Inc. (CTRE) Sees Strong Trading Volume
CareTrust REIT Inc. (NASDAQ:CTRE) shares saw unusually-high trading volume on Friday . Approximately 382,118 shares were traded during trading, a decline of 14% from the previous session’s volume of 445,099 shares.The stock last traded at $14.24 and had previously closed at $14.20.
CTRE has been the topic of several research reports. BMO Capital Markets increased their price objective on shares of CareTrust REIT from $12.50 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 30th. Zacks Investment Research lowered shares of CareTrust REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. Canaccord Genuity reiterated a “buy” rating and set a $15.00 price objective on shares of CareTrust REIT in a research note on Wednesday, March 23rd. Raymond James Financial Inc. reiterated an “outperform” rating and set a $14.00 price objective (up previously from $13.00) on shares of CareTrust REIT in a research note on Tuesday, April 12th. Finally, TheStreet upgraded shares of CareTrust REIT from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $14.33.
The company has a market capitalization of $832.80 million and a price-to-earnings ratio of 45.51. The stock’s 50-day moving average is $13.59 and its 200-day moving average is $12.19.
CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Wednesday, May 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The company earned $23.67 million during the quarter, compared to analyst estimates of $22.21 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 39.6% on a year-over-year basis. On average, equities analysts anticipate that CareTrust REIT Inc. will post $1.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 28th. This represents a $0.68 annualized dividend and a dividend yield of 4.73%.
CareTrust REIT, Inc (CareTrust) is a self-administered, self-managed real estate investment trust (REIT). The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company operates through an umbrella partnership, in which all of the Company’s properties and assets are held through CTR Partnership, L.P.
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