CareTrust REIT Inc. (CTRE) Sees Unusually-High Trading Volume
Shares of CareTrust REIT Inc. (NASDAQ:CTRE) saw an uptick in trading volume on Friday . 382,118 shares changed hands 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.
A number of research firms have recently issued reports on CTRE. Canaccord Genuity restated a “buy” rating and set a $16.00 price objective on shares of CareTrust REIT in a research report on Thursday, May 12th. TheStreet upgraded CareTrust REIT from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Zacks Investment Research cut CareTrust REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, June 8th. BMO Capital Markets boosted their price objective on CareTrust REIT from $12.50 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, March 30th. Finally, Raymond James Financial Inc. restated an “outperform” rating and set a $14.00 price objective (up from $13.00) on shares of CareTrust REIT in a research report on Tuesday, April 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. CareTrust REIT presently has a consensus rating of “Buy” and an average target price of $14.33.
The stock’s 50 day moving average price is $13.54 and its 200-day moving average price is $12.16. The firm has a market capitalization of $832.80 million and a P/E ratio of 45.51.
CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, May 11th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business earned $23.67 million during the quarter, compared to the consensus estimate of $22.21 million. The business’s revenue was up 39.6% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. Equities analysts anticipate that CareTrust REIT Inc. will post $1.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend 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.
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