CareTrust REIT, Inc. (NYSE:CTRE) Plans Quarterly Dividend of $0.39

CareTrust REIT, Inc. (NYSE:CTRE) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.39 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 30th.

CareTrust REIT has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. CareTrust REIT has a dividend 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. Analysts expect CareTrust REIT to earn $2.27 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 68.7%.

CareTrust REIT Price Performance

CTRE opened at $38.43 on Wednesday. The firm has a market capitalization of $9.08 billion, a P/E ratio of 24.17, a PEG ratio of 1.51 and a beta of 0.76. The stock has a fifty day moving average of $40.39 and a 200-day moving average of $39.69. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.27. CareTrust REIT has a 12-month low of $32.79 and a 12-month high of $43.62.

CareTrust REIT (NYSE:CTRE) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $161.35 million for the quarter. CareTrust REIT had a return on equity of 8.52% and a net margin of 62.19%.CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. Equities analysts forecast that CareTrust REIT will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTRE. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Cantor Fitzgerald increased their price target on shares of CareTrust REIT from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. KeyCorp restated an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. Weiss Ratings lowered shares of CareTrust REIT from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Finally, Royal Bank Of Canada downgraded shares of CareTrust REIT from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $44.00 to $43.00 in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.50.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that owns and manages a portfolio of healthcare-related properties across the United States. The company primarily invests in properties that are leased to healthcare operators under long-term, typically triple-net lease agreements.

CareTrust’s portfolio includes skilled nursing facilities, assisted living facilities, independent living communities, memory care properties and other healthcare-related real estate. Its tenants are responsible for operating the facilities and generally cover property-level expenses such as taxes, insurance and maintenance under the terms of the leases.

CareTrust was established in 2014 through a separation from The Ensign Group, a healthcare services company.