CareTrust REIT, Inc. (NASDAQ:CTRE – Get Free Report) announced a quarterly dividend on Monday, June 17th, NASDAQ reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.29 per share by the real estate investment trust on Monday, July 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Friday, June 28th.
CareTrust REIT has increased its dividend payment by an average of 7.8% per year over the last three years. CareTrust REIT has a dividend payout ratio of 100.9% 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 $1.56 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 74.4%.
CareTrust REIT Stock Performance
NASDAQ CTRE opened at $25.02 on Wednesday. CareTrust REIT has a fifty-two week low of $19.05 and a fifty-two week high of $26.43. The company has a market cap of $3.55 billion, a P/E ratio of 17.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 12.80 and a current ratio of 12.80. The business’s 50 day moving average price is $24.83 and its 200-day moving average price is $23.47.
Wall Street Analyst Weigh In
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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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