CareTrust REIT Inc. (CTRE) Sets New 1-Year High at $14.76
CareTrust REIT Inc. (NASDAQ:CTRE) shares reached a new 52-week high on Friday . The company traded as high as $14.76 and last traded at $14.73, with a volume of 111,644 shares changing hands. The stock had previously closed at $14.42.
A number of research firms have weighed in on CTRE. TheStreet raised shares of CareTrust REIT from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Zacks Investment Research cut shares of CareTrust REIT from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $14.00 price objective (up previously from $13.00) on shares of CareTrust REIT in a report on Tuesday, April 12th. Canaccord Genuity reaffirmed a “buy” rating and issued a $16.00 price objective on shares of CareTrust REIT in a report on Thursday, May 12th. Finally, BMO Capital Markets lifted their price objective on shares of CareTrust REIT from $12.50 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, March 30th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. CareTrust REIT presently has a consensus rating of “Buy” and a consensus target price of $14.33.
The stock’s 50 day moving average is $13.94 and its 200 day moving average is $12.42. The company has a market cap of $848.44 million and a price-to-earnings ratio of 46.36.
CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Wednesday, May 11th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $23.67 million for the quarter, compared to analyst estimates of $22.21 million. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 39.6% on a year-over-year basis. Equities research analysts forecast that CareTrust REIT Inc. will post $1.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was 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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