CareTrust REIT, Inc. Declares Quarterly Dividend of $0.34 (NASDAQ:CTRE)

Key Points

• CareTrust REIT, Inc. announced a quarterly dividend of $0.34 per share for stockholders of record on September 30th, with a yield of 3.9%.
• The company has a dividend payout ratio of 87.6%, but analysts predict a future payout ratio of 69.4% based on an expected earnings of $1.93 per share next year.
• As of now, CTRE shares are trading at $34.26, with a market capitalization of $7.47 billion and a debt-to-equity ratio of 0.14.

CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) announced a quarterly dividend on Monday, September 15th, RTT News reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.335 per share by the real estate investment trust on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%.

CareTrust REIT has a dividend payout ratio of 87.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect CareTrust REIT to earn $1.93 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 69.4%.

CareTrust REIT Price Performance

Shares of CTRE stock traded up $0.06 during trading hours on Monday, reaching $34.26. The company had a trading volume of 1,307,396 shares, compared to its average volume of 1,947,307. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a fifty day moving average of $32.74 and a 200-day moving average of $30.09. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 43.37, a PEG ratio of 1.25 and a beta of 0.84. CareTrust REIT has a 12-month low of $24.79 and a 12-month high of $34.92.

About CareTrust REIT

CareTrust REIT, Inc's (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.

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