February 28, 2021

News Spotlight: CareTrust REIT (NASDAQ:CTRE)

CareTrust REIT (NASDAQ:CTRE) changed 1.70% to recent value of $12.56. The stock transacted 2188929 shares during most recent day however it has an average volume of 1.14M shares. It spotted trading -50.82% off 52-week high price. On the other end, the stock has been noted 75.42% away from the low price over the last 52-weeks.

On March 20, 2020, CareTrust REIT (NASDAQ:CTRE) released that its Board of Directors has authorized the repurchase of up to $150 million of its outstanding shares of common stock from time to time prior to March 31, 2023.

Repurchases will be made in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), may be made through open market purchases, privately negotiated transactions, structured or derivative transactions, including accelerated stock repurchase transactions, or other methods of acquiring shares. Repurchases of common stock under the program may also be made pursuant to Rule 10b5-1 plans adopted under the Exchange Act. The timing and amount of any repurchases under the repurchase program will be determined based on a variety of factors, including but not limited to the trading volume and price of CareTrust’s common stock, potential other uses for CareTrust’s capital, legal requirements, market conditions and other relevant factors.

The Company intends to finance any stock repurchases using available cash, and may also use short-term borrowings under its $600 million revolving credit line. The repurchase program may be modified, discontinued or suspended at any time.

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 -32.10% from the mean of 20 days, -39.05% from mean of 50 days SMA and performed -43.58% from mean of 200 days price. Company’s performance for the week was -13.08%, -45.82% for month and YTD performance remained -39.12%.