CareTrust REIT, Inc. (CTRE) to Issue Quarterly Dividend of $0.39 on July 15th

CareTrust REIT, Inc. (NYSE:CTRE) declared a quarterly dividend on Tuesday, June 16th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.39 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Tuesday, June 30th.

CareTrust REIT has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 3 years. CareTrust REIT has a payout ratio of 102.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect CareTrust REIT to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 70.3%.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $40.75 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The business has a 50 day simple moving average of $39.32 and a 200-day simple moving average of $38.52. CareTrust REIT has a 12 month low of $29.91 and a 12 month high of $43.08. The stock has a market capitalization of $9.63 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.84 and a beta of 0.76.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research report on Friday, May 22nd. BMO Capital Markets boosted their price target on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. KeyCorp restated an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a research report on Friday, May 29th. Finally, Wells Fargo & Company lifted their price objective on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.82.

About CareTrust REIT

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.