CareTrust REIT (NASDAQ:CTRE – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.420-1.440 for the period, compared to the consensus earnings per share estimate of 1.520. The company issued revenue guidance of -.
Analyst Upgrades and Downgrades
CTRE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on CareTrust REIT in a research report on Tuesday, January 30th. They set a hold rating and a $23.00 target price for the company. Royal Bank of Canada reduced their target price on shares of CareTrust REIT from $25.00 to $24.00 and set an outperform rating on the stock in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $23.57.
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CareTrust REIT Stock Performance
CareTrust REIT Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.66%. CareTrust REIT’s payout ratio is presently 223.08%.
CareTrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.
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