What is CareTrust REIT Earnings Yield (Joel Greenblatt) %?
CareTrust REIT's Enterprise Value for the quarter that ended in Mar. 2024 was $3,600.5 Mil.
CareTrust REIT's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 was $102.5 Mil. CareTrust REIT's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2024 was 2.85%.
The historical rank and industry rank for CareTrust REIT's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
CTRE'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0.57 Med: 3.35 Max: 5.01
Current: 2.81
During the past 12 years, the highest Earnings Yield (Joel Greenblatt) of CareTrust REIT was 5.01%. The lowest was 0.57%. And the median was 3.35%.
CTRE's Earnings Yield (Joel Greenblatt) % is ranked better than 50.22% of 900
companies
in the REITs industry
Industry Median: 2.785
vs CTRE: 2.81
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. CareTrust REIT's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was -0.72%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
CareTrust REIT Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for CareTrust REIT's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of CareTrust REIT's Earnings Yield (Joel Greenblatt) %
For the REIT - Healthcare Facilities subindustry, CareTrust REIT's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
CareTrust REIT's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, CareTrust REIT's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where CareTrust REIT's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
CareTrust REITs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
CareTrust REIT's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $102.5 Mil.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
CareTrust REIT Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of CareTrust REIT's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
CareTrust REIT (CareTrust REIT) Business Description
CareTrust REIT Inc is a self-administered, publicly-traded REIT engaged in the ownership, acquisition, financing, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. The Company has one reportable segment consisting of investments in healthcare-related real estate assets. It generates revenues by leasing healthcare-related properties to healthcare operators in triple-net lease arrangements. The Company generate revenues by leasing healthcare-related properties to healthcare operators in triple-net lease arrangements, under which the tenant is solely responsible for the costs related to the property (including property taxes, insurance, maintenance and repair costs and capital expenditures).
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