CareTrust REIT Inc. (CTRE) Reaches New 1-Year High at $14.73
Shares of CareTrust REIT Inc. (NASDAQ:CTRE) reached a new 52-week high during trading on Wednesday . The stock traded as high as $14.73 and last traded at $14.50, with a volume of 139,299 shares trading hands. The stock had previously closed at $14.54.
Several analysts have commented on the company. Canaccord Genuity restated a “buy” rating and issued a $16.00 price target on shares of CareTrust REIT in a report on Thursday, May 12th. TheStreet raised CareTrust REIT from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. Zacks Investment Research lowered CareTrust REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, June 8th. BMO Capital Markets lifted their price objective on CareTrust REIT from $12.50 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, March 30th. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $14.00 price objective (up from $13.00) on shares of CareTrust REIT in a research note on Tuesday, April 12th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $14.33.
The company has a 50-day moving average of $13.69 and a 200-day moving average of $12.25. The company has a market cap of $840.33 million and a PE ratio of 45.92.
CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, May 11th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $23.67 million for the quarter, compared to analysts’ expectations of $22.21 million. During the same period in the prior year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 39.6% on a year-over-year basis. On average, equities research analysts predict that CareTrust REIT Inc. will post $1.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.68%. 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.
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