Caretrust REIT (CTRE) Declares $0.28 Dividend

Caretrust REIT said on March 20, 2023 that its board of directors declared a regular quarterly dividend of $0.28 per share ($1.12 annualized). Previously, the company paid $0.28 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.

At the current share price of $18.80 / share, the stock's dividend yield is 5.96%. Looking back five years and taking a sample every week, the average dividend yield has been 4.94%, the lowest has been 3.48%, and the highest has been 9.98%. The standard deviation of yields is 0.89 (n=236).

The current dividend yield is 1.15 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -14.58. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.10%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 18.59% Upside

As of March 21, 2023, the average one-year price target for Caretrust REIT is $22.29. The forecasts range from a low of $19.19 to a high of $25.20. The average price target represents an increase of 18.59% from its latest reported closing price of $18.80.

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The projected annual revenue for Caretrust REIT is $208MM, an increase of 5.92%. The projected annual non-GAAP EPS is $1.11.

What is the Fund Sentiment?

There are 543 funds or institutions reporting positions in Caretrust REIT. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to CTRE is 0.15%, a decrease of 7.97%. Total shares owned by institutions increased in the last three months by 1.28% to 94,043K shares. The put/call ratio of CTRE is 0.18, indicating a bullish outlook.

What are Large Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 7,190K shares representing 7.23% ownership of the company. In it's prior filing, the firm reported owning 7,106K shares, representing an increase of 1.18%. The firm decreased its portfolio allocation in CTRE by 5.55% over the last quarter.

Wellington Management Group Llp holds 5,671K shares representing 5.70% ownership of the company. In it's prior filing, the firm reported owning 3,614K shares, representing an increase of 36.27%. The firm increased its portfolio allocation in CTRE by 51.54% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,400K shares representing 4.42% ownership of the company. In it's prior filing, the firm reported owning 4,452K shares, representing a decrease of 1.18%. The firm increased its portfolio allocation in CTRE by 7.66% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,942K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 2,900K shares, representing an increase of 1.41%. The firm decreased its portfolio allocation in CTRE by 3.90% over the last quarter.

Bank of New York Mellon holds 2,911K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 3,233K shares, representing a decrease of 11.07%. The firm decreased its portfolio allocation in CTRE by 84.37% over the last quarter.

CareTrust REIT Background Information
(This description is provided by the company.)

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-termnet-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.

This story originally appeared on Fintel.