Last Updated: 09 Nov 2024
Executive Summary
CareTrust REIT Inc. (CTRE) is a real estate investment trust (REIT) that specializes in owning and leasing healthcare properties. The company has a market capitalization of $5.79 billion and a dividend yield of 0.0378%. CTRE's stock price is currently trading at $30.94, which is below its 52-week high of $33.15. The company has a strong financial profile with a trailing price-to-earnings (PE) ratio of 41.81 and a forward PE ratio of 12.97. Analysts have a positive outlook on CTRE, with a consensus rating of "Buy".
Company Overview
CareTrust REIT Inc. was founded in 2006 and is headquartered in San Clemente, California. The company owns and leases a portfolio of over 170 healthcare properties, including skilled nursing facilities, senior housing communities, and medical office buildings. CTRE's tenants are primarily healthcare providers, such as hospitals, nursing homes, and physician groups.
Fundamental Analysis
CTRE has a strong financial profile. The company's revenue has grown at a compound annual growth rate (CAGR) of 10.5% over the past five years. In 2023, CTRE reported revenue of $269.1 million and net income of $100.1 million. The company's earnings per share (EPS) have also grown at a CAGR of 10.5% over the past five years. In 2023, CTRE reported EPS of $0.74.
CTRE's balance sheet is also strong. The company has a debt-to-equity ratio of 0.53, which is below the industry average. CTRE also has a strong cash flow from operations, which allows it to invest in new properties and pay dividends to shareholders.
Technical Analysis
CTRE's stock price has been trending higher in recent months. The stock is currently trading above its 50-day moving average and its 200-day moving average. The stock's relative strength index (RSI) is also above 50, which indicates that the stock is in a bullish trend.
Short Term Outlook
Analysts have a positive short-term outlook for CTRE. The stock is expected to continue to trend higher in the coming months. The company's strong financial profile and positive momentum are likely to drive the stock price higher.
Long Term Outlook
Analysts also have a positive long-term outlook for CTRE. The company is expected to continue to grow its revenue and earnings in the coming years. The company's focus on healthcare properties is expected to drive long-term growth.
Analyst Recommendations
Analysts have a consensus rating of "Buy" on CTRE. The average analyst target price is $32.88, which represents a potential upside of 6.3% from the current stock price.
