CareTrust REIT (NYSE:CTRE) Announces Earnings Results

CareTrust REIT (NYSE:CTRE) posted its quarterly earnings data on Thursday. The company reported $0.50 earnings per share for the quarter, FiscalAI reports. CareTrust REIT had a net margin of 61.00% and a return on equity of 7.95%. The company had revenue of $134.86 million during the quarter.

CareTrust REIT Stock Up 1.9%

Shares of CTRE stock traded up $0.74 on Thursday, reaching $40.13. 2,483,761 shares of the company’s stock traded hands, compared to its average volume of 1,847,538. The company has a market capitalization of $8.96 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 1.27 and a beta of 0.75. CareTrust REIT has a 12-month low of $24.79 and a 12-month high of $40.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.98 and a current ratio of 6.98. The business’s 50 day moving average price is $37.05 and its two-hundred day moving average price is $35.45.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CTRE. UBS Group upgraded shares of CareTrust REIT to a “strong-buy” rating in a report on Tuesday, November 18th. BMO Capital Markets upgraded CareTrust REIT from a “hold” rating to an “outperform” rating and set a $43.00 price objective for the company in a research report on Friday, January 9th. Citizens Jmp raised CareTrust REIT to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, CareTrust REIT has a consensus rating of “Buy” and a consensus target price of $43.00.

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.