Shares of Caretrust REIT Inc (NASDAQ:CTRE) were up 5.1% during mid-day trading on Tuesday . The company traded as high as $19.09 and last traded at $18.96. Approximately 1,570,781 shares were traded during mid-day trading, an increase of 135% from the average daily volume of 668,723 shares. The stock had previously closed at $18.04.
A number of analysts have issued reports on CTRE shares. Zacks Investment Research raised Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Cantor Fitzgerald reissued a “buy” rating and issued a $20.00 target price on shares of Caretrust REIT in a research report on Monday. Royal Bank of Canada reiterated a “hold” rating and issued a $18.00 price target (up from $16.00) on shares of Caretrust REIT in a research report on Thursday, August 9th. KeyCorp lifted their price target on Caretrust REIT from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, August 21st. Finally, BidaskClub upgraded Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.38.
The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 2.73 and a beta of 0.73. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.85.
Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). The company had revenue of $39.50 million during the quarter, compared to analysts’ expectations of $39.37 million. Caretrust REIT had a net margin of 28.26% and a return on equity of 6.81%. Caretrust REIT’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. On average, analysts expect that Caretrust REIT Inc will post 1.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, September 27th. Caretrust REIT’s dividend payout ratio (DPR) is presently 70.69%.
Several hedge funds and other institutional investors have recently made changes to their positions in CTRE. Strs Ohio boosted its stake in Caretrust REIT by 2.4% during the third quarter. Strs Ohio now owns 132,050 shares of the real estate investment trust’s stock valued at $2,338,000 after buying an additional 3,150 shares during the period. Macquarie Group Ltd. boosted its stake in Caretrust REIT by 25.8% during the second quarter. Macquarie Group Ltd. now owns 16,600 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 3,400 shares during the period. WINTON GROUP Ltd boosted its stake in Caretrust REIT by 33.2% during the third quarter. WINTON GROUP Ltd now owns 15,882 shares of the real estate investment trust’s stock valued at $281,000 after buying an additional 3,958 shares during the period. Dupont Capital Management Corp boosted its stake in Caretrust REIT by 8.3% during the third quarter. Dupont Capital Management Corp now owns 53,704 shares of the real estate investment trust’s stock valued at $951,000 after buying an additional 4,098 shares during the period. Finally, Aperio Group LLC boosted its stake in Caretrust REIT by 26.5% during the second quarter. Aperio Group LLC now owns 21,699 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 4,543 shares during the period. Institutional investors own 88.30% of the company’s stock.
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Caretrust REIT Company Profile (NASDAQ:CTRE)
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 189 net-leased healthcare properties and three operated seniors housing properties in 25 states, CareTrust REIT is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
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