CareTrust REIT (CTRE) Set to Announce Quarterly Earnings on Thursday

CareTrust REIT (NASDAQ:CTRE) is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

CareTrust REIT Stock Performance

NASDAQ CTRE traded up $0.06 during trading hours on Tuesday, hitting $24.73. 315,041 shares of the stock were exchanged, compared to its average volume of 1,338,327. CareTrust REIT has a 12-month low of $18.18 and a 12-month high of $24.77. The stock has a 50-day moving average of $23.72 and a 200 day moving average of $22.70. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 50.35 and a beta of 1.05. The company has a quick ratio of 8.67, a current ratio of 8.67 and a debt-to-equity ratio of 0.42.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 27th. CareTrust REIT’s dividend payout ratio is 236.73%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTRE. KeyCorp lifted their price target on CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, January 5th. Royal Bank of Canada cut their price target on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.57.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.