CareTrust REIT (NYSE:CTRE) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

CareTrust REIT (NYSE:CTRE) announced its earnings results on Thursday. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02, reports. The firm had revenue of $176.36 million during the quarter. CareTrust REIT had a return on equity of 8.52% and a net margin of 62.19%.

CareTrust REIT Price Performance

Shares of NYSE:CTRE traded up $0.77 during midday trading on Friday, reaching $37.95. 1,256,784 shares of the company’s stock were exchanged, compared to its average volume of 2,544,487. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.57 and a current ratio of 0.57. The company’s 50 day simple moving average is $37.30 and its two-hundred day simple moving average is $38.98. CareTrust REIT has a 12 month low of $34.74 and a 12 month high of $43.62. The firm has a market capitalization of $8.97 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Wednesday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 98.11%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Tuesday, October 13th. Cantor Fitzgerald upped their target price on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Huntington assumed coverage on shares of CareTrust REIT in a research note on Thursday, September 10th. They set an “outperform” rating and a $44.00 target price for the company. Wedbush set a $44.00 price target on shares of CareTrust REIT in a report on Tuesday, October 13th. Finally, Raymond James Financial decreased their price target on shares of CareTrust REIT from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.64.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd acquired a new stake in shares of CareTrust REIT during the second quarter worth $31,000. Compass Financial Management LLC acquired a new position in CareTrust REIT in the second quarter valued at about $34,000. Signature Equity Partners LLC lifted its stake in CareTrust REIT by 37.8% in the third quarter. Signature Equity Partners LLC now owns 1,393 shares of the company’s stock valued at $51,000 after buying an additional 382 shares during the period. Burnham & Co LLC acquired a new position in shares of CareTrust REIT during the 2nd quarter worth about $61,000. Finally, Allworth Financial LP bought a new position in CareTrust REIT during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that owns, acquires, and manages properties used by healthcare providers. Its portfolio primarily includes skilled nursing facilities, assisted living communities, independent living facilities, and other senior housing and healthcare-related properties.

The company generally leases its properties to healthcare operators under long-term, often triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property-level expenses such as taxes, insurance, and maintenance, while CareTrust focuses on owning and managing the underlying real estate and supporting its operating partners.

CareTrust was formed in 2014 through the spin-off of healthcare properties from The Ensign Group.