CareTrust REIT Inc. (CTRE) Hits New 12-Month High at $14.76
CareTrust REIT Inc. (NASDAQ:CTRE)’s share price hit a new 52-week high during mid-day trading 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.
CTRE has been the topic of a number of recent analyst reports. Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $14.00 target price (up from $13.00) on shares of CareTrust REIT in a research report on Tuesday, April 12th. Zacks Investment Research lowered CareTrust REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. BMO Capital Markets upped their target price on CareTrust REIT from $12.50 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, March 30th. TheStreet raised CareTrust REIT from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Finally, Canaccord Genuity reissued a “buy” rating and set a $16.00 price target on shares of CareTrust REIT in a research report on Thursday, May 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. CareTrust REIT currently has a consensus rating of “Buy” and a consensus price target of $14.33.
The stock has a market cap of $848.44 million and a price-to-earnings ratio of 46.36. The stock’s 50 day moving average is $13.94 and its 200-day moving average is $12.42.
CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, May 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. The business earned $23.67 million during the quarter, compared to analyst estimates of $22.21 million. The business’s quarterly revenue was up 39.6% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. On average, equities research analysts predict that CareTrust REIT Inc. will post $1.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.17 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.64%.
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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