CareTrust REIT (NASDAQ:CTRE) Issues Quarterly Earnings Results

CareTrust REIT (NASDAQ:CTRE) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12), RTT News reports. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. CareTrust REIT updated its FY 2025 guidance to 1.680-1.720 EPS.

CareTrust REIT Stock Performance

CTRE stock traded down $0.19 on Wednesday, hitting $25.56. The company had a trading volume of 2,990,585 shares, compared to its average volume of 1,641,585. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 35.51, a P/E/G ratio of 1.24 and a beta of 1.09. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $27.22 and its 200 day simple moving average is $28.95. CareTrust REIT has a 12-month low of $22.30 and a 12-month high of $33.15.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.54%. CareTrust REIT’s dividend payout ratio is presently 161.11%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.67.

CareTrust REIT Company Profile

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.