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

CareTrust REIT, Inc. (NYSE:CTRE) declared a quarterly dividend on Tuesday, June 16th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.39 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, June 30th.

CareTrust REIT has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 3 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 $2.20 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 70.9%.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $37.00 on Wednesday. CareTrust REIT has a 12-month low of $28.41 and a 12-month high of $43.08. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.76. The business has a 50 day simple moving average of $39.43 and a 200 day simple moving average of $38.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37.

CareTrust REIT Company Profile

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.