CareTrust REIT, Inc. (NYSE:CTRE) Declares Dividend Increase – $0.39 Per Share

CareTrust REIT, Inc. (NYSE:CTRE) declared a quarterly dividend on Friday, March 13th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.39 per share on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a 16.4% increase from CareTrust REIT’s previous quarterly dividend of $0.34.

CareTrust REIT has increased its dividend payment 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.

CareTrust REIT Price Performance

Shares of NYSE CTRE opened at $40.01 on Friday. The firm has a market cap of $8.93 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 2.72 and a beta of 0.74. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.22. CareTrust REIT has a 1-year low of $25.82 and a 1-year high of $41.72. The business’s 50 day moving average is $38.58 and its 200-day moving average is $36.54.

CareTrust REIT (NYSE:CTRE) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $134.86 million during the quarter. CareTrust REIT had a return on equity of 8.98% and a net margin of 67.28%.CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

Analysts Set New Price Targets

Several equities analysts recently commented on CTRE shares. UBS Group upped their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. KeyCorp lifted their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. BMO Capital Markets raised shares of CareTrust REIT from a “hold” rating to an “outperform” rating and set a $43.00 price objective for the company in a report on Friday, January 9th. Wells Fargo & Company increased their target price on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Finally, Citigroup began coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT has a consensus rating of “Buy” and an average target price of $42.80.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.