CareTrust REIT (NASDAQ:CTRE) Updates FY 2024 Earnings Guidance

CareTrust REIT (NASDAQ:CTRE) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.420-1.440 for the period, compared to the consensus estimate of 1.520. The company issued revenue guidance of -.

CareTrust REIT Trading Down 0.4 %

CTRE stock traded down $0.10 on Monday, reaching $24.87. The company’s stock had a trading volume of 951,149 shares, compared to its average volume of 1,340,060. The firm has a market cap of $3.53 billion, a PE ratio of 48.02 and a beta of 1.03. The business has a fifty day simple moving average of $23.87 and a two-hundred day simple moving average of $22.79. CareTrust REIT has a 12-month low of $18.18 and a 12-month high of $26.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 12.80 and a current ratio of 12.80.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.29 dividend. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Wednesday, March 27th. CareTrust REIT’s dividend payout ratio (DPR) is 223.08%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CareTrust REIT in a report on Tuesday, January 30th. They issued a hold rating and a $23.00 target price for the company. Royal Bank of Canada cut their price objective 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target 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.