CareTrust REIT Inc. (CTRE) Reaches New 1-Year High at $14.59
Shares of CareTrust REIT Inc. (NASDAQ:CTRE) hit a new 52-week high during trading on Thursday . The company traded as high as $14.59 and last traded at $14.12, with a volume of 161,068 shares changing hands. The stock had previously closed at $14.46.
CTRE has been the topic of a number of research reports. Canaccord Genuity restated a “buy” rating and issued a $15.00 price target on shares of CareTrust REIT in a report on Wednesday, March 23rd. Raymond James Financial Inc. restated an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of CareTrust REIT in a report on Tuesday, April 12th. Zacks Investment Research upgraded CareTrust REIT from a “sell” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Saturday, June 11th. BMO Capital Markets boosted their price target on CareTrust REIT from $12.50 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, March 30th. Finally, TheStreet upgraded CareTrust REIT from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $14.33.
The stock has a 50 day moving average of $13.50 and a 200-day moving average of $12.15. The company has a market cap of $819.77 million and a price-to-earnings ratio of 44.794.
CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, May 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. During the same period in the prior year, the business earned $0.27 earnings per share. The company had revenue of $23.67 million for the quarter, compared to the consensus estimate of $22.21 million. The firm’s revenue for the quarter was up 39.6% on a year-over-year basis. Equities research analysts expect that CareTrust REIT Inc. will post $1.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.70%. The ex-dividend date is Tuesday, June 28th.
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.