Caretrust REIT (NASDAQ:CTRE) Releases Earnings Results, Misses Expectations By $0.45 EPS

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Caretrust REIT (NASDAQ:CTRE) released its earnings results on Thursday. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.45), Fidelity Earnings reports. The business had revenue of $33.31 million during the quarter, compared to analysts’ expectations of $43.64 million. Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. Caretrust REIT’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. Caretrust REIT updated its FY20 guidance to $1.36 to $1.38 EPS.

Shares of NASDAQ:CTRE traded down $0.96 during midday trading on Friday, hitting $20.51. 3,289,200 shares of the stock were exchanged, compared to its average volume of 886,366. The company has a market capitalization of $2.16 billion, a PE ratio of 16.02 and a beta of 0.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 0.97. Caretrust REIT has a 52-week low of $17.71 and a 52-week high of $25.54. The business’s fifty day simple moving average is $23.52 and its two-hundred day simple moving average is $23.84.

The company also recently disclosed a — dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 3.9%. Caretrust REIT’s dividend payout ratio is 70.31%.

A number of analysts have recently issued reports on CTRE shares. Capital One Financial upgraded Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a report on Wednesday, August 21st. Zacks Investment Research upgraded Caretrust REIT from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday. BMO Capital Markets restated a “buy” rating and issued a $26.00 target price on shares of Caretrust REIT in a report on Wednesday, August 7th. Berenberg Bank started coverage on Caretrust REIT in a report on Thursday, September 12th. They issued a “buy” rating and a $29.00 target price for the company. Finally, BidaskClub lowered Caretrust REIT from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $25.50.

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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Earnings History for Caretrust REIT (NASDAQ:CTRE)

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