CareTrust REIT, Inc. (CTRE) To Go Ex-Dividend on December 31st

CareTrust REIT, Inc. (NASDAQ:CTRE) announced a quarterly dividend on Tuesday, December 16th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.335 per share by the real estate investment trust on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, December 31st.

CareTrust REIT has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 3 consecutive years. CareTrust REIT has a dividend payout ratio of 87.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect CareTrust REIT to earn $1.93 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 69.4%.

CareTrust REIT Stock Down 0.7%

CTRE stock opened at $36.68 on Monday. The stock has a fifty day moving average of $36.29 and a 200-day moving average of $33.92. CareTrust REIT has a fifty-two week low of $24.79 and a fifty-two week high of $38.32. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 46.42, a PEG ratio of 1.25 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

Institutional Investors Weigh In On CareTrust REIT

Institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC increased its stake in CareTrust REIT by 67.4% in the 1st quarter. HighTower Advisors LLC now owns 12,528 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 5,046 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of CareTrust REIT by 27.5% during the first quarter. Evergreen Capital Management LLC now owns 14,168 shares of the real estate investment trust’s stock worth $410,000 after purchasing an additional 3,058 shares in the last quarter. Twin Tree Management LP bought a new position in shares of CareTrust REIT in the first quarter worth approximately $58,000. Royal Bank of Canada raised its stake in CareTrust REIT by 36.4% in the first quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust’s stock valued at $5,129,000 after purchasing an additional 47,936 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in CareTrust REIT by 51.3% during the first quarter. Alyeska Investment Group L.P. now owns 2,094,848 shares of the real estate investment trust’s stock valued at $59,871,000 after purchasing an additional 710,006 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.