CareTrust REIT (NASDAQ:CTRE) moved 6.96% to recent value of $14.45. The stock transacted 1776389 shares during most recent day however it has an average volume of 1.05M shares. It spotted trading -43.42% off 52-week high price. On the other end, the stock has been noted 8.40% away from the low price over the last 52-weeks.
On March 12, 2020, CareTrust REIT (NASDAQ:CTRE) disclosed that its Board of Directors has increased its quarterly common stock cash dividend from $0.225 to $0.25 per common share. The current dividend will be payable to common stockholders of record as of the close of business on March 31, 2020.
We are pleased to be returning additional value to shareholders again this year by continuing our pattern of regular dividend increases, said Greg Stapley, CareTrust’s Chairman and Chief Executive Officer. Mr. Stapley noted that the growth in the company’s dividend is consistent with the company’s asset and earnings growth. In 2019 CareTrust invested a record $341 million in new assets at a blended initial cash yield of approximately 8.8%.
Notwithstanding the increase, with our growing portfolio our payout ratio will remain among the lowest in our per group, providing capital for continued expansion while representing one of the best-covered dividends in our space, he added. Management affirmed that the company plans to pay the dividend on or about April 15, 2020.
CTRE has an operating margin of 44.50% while its profit margin remained 28.20% for the last 12 months. Its earnings per share (EPS) expected to touch remained -31.80% for this year while earning per share for the next 5-years is expected to reach at 6.00%.
The company has 120.06M of outstanding shares and 94.13M shares were floated in the market. The price moved ahead of -32.85% from the mean of 20 days, -32.98% from mean of 50 days SMA and performed -36.05% from mean of 200 days price. Company’s performance for the week was -35.72%, -36.62% for month and YTD performance remained -29.96%.