Caretrust REIT Inc (NASDAQ:CTRE) Plans $0.25 Quarterly Dividend

Caretrust REIT Inc (NASDAQ:CTRE) declared a quarterly dividend on Wednesday, June 17th, Wall Street Journal reports. Investors of record on Tuesday, June 30th will be given a dividend of 0.25 per share by the real estate investment trust on Wednesday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.78%. The ex-dividend date is Monday, June 29th.

Caretrust REIT has a payout ratio of 129.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Caretrust REIT to earn $1.36 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 73.5%.

NASDAQ CTRE opened at $17.30 on Friday. Caretrust REIT has a 1-year low of $7.16 and a 1-year high of $24.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.66. The stock’s 50 day simple moving average is $18.47 and its 200-day simple moving average is $19.02. The company has a market cap of $1.66 billion, a PE ratio of 33.27 and a beta of 1.04.

Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.14). The business had revenue of $44.34 million during the quarter, compared to analyst estimates of $43.20 million. Caretrust REIT had a return on equity of 5.32% and a net margin of 29.53%. On average, equities research analysts anticipate that Caretrust REIT will post 1.34 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Monday, June 22nd. Raymond James upgraded shares of Caretrust REIT from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research report on Wednesday, April 29th. Mizuho upgraded Caretrust REIT from an “underperform” rating to a “neutral” rating and cut their price objective for the stock from $19.00 to $13.00 in a research report on Monday, April 6th. Wells Fargo & Co increased their target price on Caretrust REIT from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Finally, TheStreet downgraded Caretrust REIT from a “b-” rating to a “c+” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Caretrust REIT presently has an average rating of “Hold” and an average price target of $21.88.

Caretrust REIT Company Profile

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 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust 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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Dividend History for Caretrust REIT (NASDAQ:CTRE)

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