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 Stock Down 0.4 %

CTRE traded down $0.10 during trading hours on Monday, hitting $24.87. 951,149 shares of the company’s stock were exchanged, compared to its average volume of 1,340,060. The firm has a market cap of $3.53 billion, a P/E ratio of 48.02 and a beta of 1.03. CareTrust REIT has a 12-month low of $18.18 and a 12-month high of $26.43. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $23.87 and a 200 day moving average of $22.79.

CareTrust REIT Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on CareTrust REIT in a research report on Tuesday, January 30th. They issued a hold rating and a $23.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of CareTrust REIT from $25.00 to $24.00 and set an outperform rating for the company in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, CareTrust REIT currently has an average rating of Moderate Buy and a consensus price target of $23.57.

About CareTrust REIT

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.