Care Capital Properties Inc (NYSE:CCP) declared a quarterly dividend on Friday, May 19th. Shareholders of record on Friday, June 9th will be given a dividend of 0.57 per share by the financial services provider on Friday, June 30th. This represents a $2.28 annualized dividend and a yield of 8.32%. The ex-dividend date is Wednesday, June 7th.
Care Capital Properties has a payout ratio of 77.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Care Capital Properties to earn $1.80 per share next year, which means the company may not be able to cover its $2.28 annual dividend with an expected future payout ratio of 126.7%.
Care Capital Properties (NYSE:CCP) traded up 0.44% during trading on Friday, reaching $27.52. 999,429 shares of the company’s stock traded hands. The stock has a market capitalization of $2.31 billion, a P/E ratio of 14.65 and a beta of 0.38. The company has a 50-day moving average of $27.29 and a 200 day moving average of $25.43. Care Capital Properties has a 12 month low of $22.70 and a 12 month high of $31.56.
Care Capital Properties (NYSE:CCP) last issued its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.26. Care Capital Properties had a net margin of 34.14% and a return on equity of 9.92%. The company had revenue of $82.80 million during the quarter, compared to the consensus estimate of $83.32 million. Care Capital Properties’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that Care Capital Properties will post $1.83 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Care Capital Properties stock. Teachers Advisors LLC increased its stake in Care Capital Properties Inc (NYSE:CCP) by 56.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,812 shares of the financial services provider’s stock after buying an additional 48,412 shares during the period. Teachers Advisors LLC owned about 0.16% of Care Capital Properties worth $3,622,000 at the end of the most recent quarter. 90.08% of the stock is owned by institutional investors and hedge funds.
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A number of equities research analysts have weighed in on the stock. JMP Securities raised shares of Care Capital Properties from an “underperform” rating to a “market perform” rating in a report on Monday, May 8th. Hilliard Lyons downgraded shares of Care Capital Properties from a “buy” rating to a “neutral” rating in a report on Monday, May 8th. Finally, Zacks Investment Research raised shares of Care Capital Properties from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.00.
About Care Capital Properties
Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. The Company leases its properties to unaffiliated tenants under long-term triple-net leases, pursuant to which the tenants are obligated to pay all property-related expenses, including maintenance, utilities, repairs and taxes.
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