CareTrust REIT (NYSE:CTRE) Releases Earnings Results, Misses Estimates By $0.17 EPS

CareTrust REIT (NYSE:CTRE) issued its earnings results on Thursday, November 5th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17), FiscalAI reports. The firm had revenue of $176.36 million during the quarter. CareTrust REIT had a return on equity of 8.08% and a net margin of 59.18%.

CareTrust REIT Trading Down 0.2%

Shares of NYSE:CTRE traded down $0.09 during trading on Friday, reaching $38.06. 3,084,433 shares of the company were exchanged, compared to its average volume of 2,612,893. 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 $9.81 billion, a PE ratio of 23.94, a P/E/G ratio of 1.37 and a beta of 0.77. The business’s fifty day simple moving average is $37.21 and its 200-day simple moving average is $39.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.08 and a quick ratio of 3.08.

CareTrust REIT Dividend Announcement

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

Institutional Trading of CareTrust REIT

A number of institutional investors have recently modified their holdings of CTRE. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in CareTrust REIT in the 2nd quarter valued at about $8,231,000. Greenland Capital Management LP purchased a new stake in CareTrust REIT during the second quarter worth about $9,684,000. Corient Private Wealth LP lifted its position in shares of CareTrust REIT by 76.2% during the second quarter. Corient Private Wealth LP now owns 166,828 shares of the company’s stock worth $6,732,000 after purchasing an additional 72,137 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of CareTrust REIT by 17.2% during the second quarter. Hsbc Holdings PLC now owns 478,410 shares of the company’s stock worth $19,334,000 after purchasing an additional 70,243 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of CareTrust REIT in the second quarter valued at approximately $23,025,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research note on Tuesday, October 13th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $43.00 target price on shares of CareTrust REIT in a research report on Monday, October 5th. Raymond James Financial restated an “outperform” rating and set a $41.00 target price on shares of CareTrust REIT in a report on Tuesday. Huntington assumed coverage on CareTrust REIT in a report on Thursday, September 10th. They issued an “outperform” rating and a $44.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on CareTrust REIT from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.71.

CareTrust REIT Company Profile

CareTrust REIT, Inc. is a real estate investment trust that owns and invests in healthcare-related properties, with a focus on skilled nursing facilities and senior housing. Its portfolio also includes assisted living and other properties that serve older adults and people requiring healthcare services. The company primarily works with healthcare operators through long-term property leases and other real estate investments. CareTrust’s properties are located across the United States, and the company has expanded its investments into the United Kingdom.