Intrinsic value of CareTrust REIT - CTRE

Previous Close

$19.46

  Intrinsic Value

$1.50

stock screener

  Rating & Target

str. sell

-92%

  Value-price divergence*

+45%

Previous close

$19.46

 
Intrinsic value

$1.50

 
Up/down potential

-92%

 
Rating

str. sell

 
Value-price divergence*

+45%

Our model is not good at valuating stocks of financial companies, such as CTRE.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CTRE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  40.00
  26.90
  24.71
  22.74
  20.97
  19.37
  17.93
  16.64
  15.47
  14.43
  13.48
  12.64
  11.87
  11.19
  10.57
  10.01
  9.51
  9.06
  8.65
  8.29
  7.96
  7.66
  7.40
  7.16
  6.94
  6.75
  6.57
  6.41
  6.27
  6.15
  6.03
Revenue, $m
  105
  133
  166
  204
  247
  294
  347
  405
  468
  535
  607
  684
  765
  851
  941
  1,035
  1,134
  1,236
  1,343
  1,455
  1,570
  1,691
  1,816
  1,946
  2,081
  2,221
  2,367
  2,519
  2,677
  2,841
  3,013
Variable operating expenses, $m
 
  53
  66
  82
  99
  118
  139
  162
  187
  214
  243
  274
  306
  340
  376
  414
  453
  495
  537
  582
  628
  676
  726
  778
  832
  888
  947
  1,008
  1,071
  1,137
  1,205
Fixed operating expenses, $m
 
  10
  11
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  16
  16
  16
  17
  17
  18
  18
  19
  19
  19
  20
  20
  21
Total operating expenses, $m
  52
  63
  77
  93
  110
  129
  151
  174
  199
  226
  256
  287
  319
  354
  390
  428
  468
  510
  553
  598
  644
  693
  743
  796
  850
  907
  966
  1,027
  1,091
  1,157
  1,226
Operating income, $m
  53
  70
  89
  112
  137
  165
  197
  231
  268
  309
  352
  397
  446
  497
  550
  607
  665
  727
  790
  857
  926
  998
  1,072
  1,150
  1,230
  1,314
  1,401
  1,492
  1,586
  1,684
  1,787
EBITDA, $m
  85
  110
  140
  174
  212
  255
  303
  355
  411
  472
  537
  606
  680
  757
  838
  923
  1,011
  1,104
  1,201
  1,301
  1,405
  1,514
  1,627
  1,744
  1,866
  1,992
  2,124
  2,261
  2,404
  2,552
  2,707
Interest expense (income), $m
  21
  25
  32
  40
  50
  61
  73
  86
  101
  116
  133
  151
  171
  191
  213
  235
  259
  284
  309
  336
  364
  393
  424
  455
  488
  522
  557
  593
  632
  671
  713
Earnings before tax, $m
  29
  44
  57
  71
  87
  105
  124
  145
  168
  192
  218
  246
  275
  306
  338
  371
  407
  443
  481
  521
  562
  604
  649
  695
  743
  793
  844
  898
  955
  1,013
  1,074
Tax expense, $m
  0
  12
  15
  19
  23
  28
  34
  39
  45
  52
  59
  66
  74
  83
  91
  100
  110
  120
  130
  141
  152
  163
  175
  188
  201
  214
  228
  243
  258
  274
  290
Net income, $m
  29
  32
  42
  52
  64
  76
  91
  106
  123
  140
  159
  180
  201
  223
  247
  271
  297
  323
  351
  380
  410
  441
  474
  507
  542
  579
  616
  656
  697
  740
  784

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  8
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  925
  1,159
  1,445
  1,774
  2,145
  2,561
  3,020
  3,523
  4,068
  4,655
  5,282
  5,950
  6,656
  7,400
  8,182
  9,002
  9,857
  10,750
  11,681
  12,649
  13,655
  14,701
  15,789
  16,919
  18,093
  19,314
  20,583
  21,904
  23,278
  24,708
  26,199
Adjusted assets (=assets-cash), $m
  917
  1,159
  1,445
  1,774
  2,145
  2,561
  3,020
  3,523
  4,068
  4,655
  5,282
  5,950
  6,656
  7,400
  8,182
  9,002
  9,857
  10,750
  11,681
  12,649
  13,655
  14,701
  15,789
  16,919
  18,093
  19,314
  20,583
  21,904
  23,278
  24,708
  26,199
Revenue / Adjusted assets
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
  0.115
Average production assets, $m
  770
  977
  1,218
  1,495
  1,808
  2,158
  2,545
  2,969
  3,428
  3,923
  4,452
  5,015
  5,610
  6,237
  6,896
  7,587
  8,308
  9,061
  9,845
  10,661
  11,509
  12,391
  13,307
  14,260
  15,250
  16,278
  17,348
  18,461
  19,619
  20,825
  22,081
Working capital, $m
  -8
  -20
  -25
  -31
  -38
  -45
  -53
  -62
  -71
  -81
  -92
  -104
  -116
  -129
  -143
  -157
  -172
  -188
  -204
  -221
  -239
  -257
  -276
  -296
  -316
  -338
  -360
  -383
  -407
  -432
  -458
Total debt, $m
  450
  575
  723
  892
  1,084
  1,298
  1,535
  1,795
  2,076
  2,379
  2,703
  3,047
  3,411
  3,796
  4,199
  4,622
  5,063
  5,524
  6,004
  6,504
  7,023
  7,563
  8,124
  8,707
  9,313
  9,943
  10,598
  11,279
  11,988
  12,727
  13,496
Total liabilities, $m
  473
  598
  746
  915
  1,107
  1,321
  1,558
  1,818
  2,099
  2,402
  2,726
  3,070
  3,434
  3,819
  4,222
  4,645
  5,086
  5,547
  6,027
  6,527
  7,046
  7,586
  8,147
  8,730
  9,336
  9,966
  10,621
  11,302
  12,011
  12,750
  13,519
Total equity, $m
  452
  561
  699
  858
  1,038
  1,239
  1,462
  1,705
  1,969
  2,253
  2,557
  2,880
  3,222
  3,582
  3,960
  4,357
  4,771
  5,203
  5,653
  6,122
  6,609
  7,116
  7,642
  8,189
  8,757
  9,348
  9,962
  10,601
  11,266
  11,959
  12,680
Total liabilities and equity, $m
  925
  1,159
  1,445
  1,773
  2,145
  2,560
  3,020
  3,523
  4,068
  4,655
  5,283
  5,950
  6,656
  7,401
  8,182
  9,002
  9,857
  10,750
  11,680
  12,649
  13,655
  14,702
  15,789
  16,919
  18,093
  19,314
  20,583
  21,903
  23,277
  24,709
  26,199
Debt-to-equity ratio
  0.996
  1.030
  1.030
  1.040
  1.040
  1.050
  1.050
  1.050
  1.050
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
Adjusted equity ratio
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  29
  32
  42
  52
  64
  76
  91
  106
  123
  140
  159
  180
  201
  223
  247
  271
  297
  323
  351
  380
  410
  441
  474
  507
  542
  579
  616
  656
  697
  740
  784
Depreciation, amort., depletion, $m
  32
  41
  51
  62
  75
  90
  106
  124
  143
  163
  186
  209
  234
  260
  287
  316
  346
  378
  410
  444
  480
  516
  554
  594
  635
  678
  723
  769
  817
  868
  920
Funds from operations, $m
  64
  73
  92
  114
  139
  166
  197
  230
  265
  304
  345
  389
  435
  483
  534
  587
  643
  701
  761
  824
  890
  957
  1,028
  1,101
  1,178
  1,257
  1,339
  1,425
  1,514
  1,607
  1,704
Change in working capital, $m
  0
  -4
  -5
  -6
  -6
  -7
  -8
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -25
  -26
Cash from operations, $m
  64
  77
  97
  120
  145
  174
  205
  238
  275
  314
  356
  400
  447
  496
  548
  602
  658
  717
  778
  841
  907
  976
  1,047
  1,121
  1,198
  1,278
  1,361
  1,448
  1,538
  1,632
  1,730
Maintenance CAPEX, $m
  0
  -32
  -41
  -51
  -62
  -75
  -90
  -106
  -124
  -143
  -163
  -186
  -209
  -234
  -260
  -287
  -316
  -346
  -378
  -410
  -444
  -480
  -516
  -554
  -594
  -635
  -678
  -723
  -769
  -817
  -868
New CAPEX, $m
  -1
  -207
  -241
  -277
  -313
  -350
  -387
  -424
  -459
  -495
  -529
  -563
  -595
  -627
  -659
  -690
  -721
  -753
  -784
  -816
  -848
  -882
  -916
  -952
  -990
  -1,029
  -1,070
  -1,113
  -1,158
  -1,206
  -1,256
Cash from investing activities, $m
  -285
  -239
  -282
  -328
  -375
  -425
  -477
  -530
  -583
  -638
  -692
  -749
  -804
  -861
  -919
  -977
  -1,037
  -1,099
  -1,162
  -1,226
  -1,292
  -1,362
  -1,432
  -1,506
  -1,584
  -1,664
  -1,748
  -1,836
  -1,927
  -2,023
  -2,124
Free cash flow, $m
  -221
  -162
  -185
  -208
  -230
  -252
  -272
  -291
  -308
  -323
  -337
  -348
  -357
  -365
  -371
  -376
  -380
  -382
  -384
  -385
  -385
  -386
  -386
  -386
  -386
  -386
  -387
  -388
  -389
  -391
  -394
Issuance/(repayment) of debt, $m
  55
  125
  148
  170
  192
  214
  237
  259
  281
  303
  324
  344
  364
  384
  404
  423
  442
  461
  480
  499
  519
  540
  561
  583
  606
  630
  655
  681
  709
  738
  769
Issuance/(repurchase) of shares, $m
  200
  84
  97
  107
  116
  125
  132
  137
  141
  144
  144
  143
  141
  137
  132
  125
  118
  109
  99
  89
  77
  65
  53
  40
  26
  12
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  253
  209
  245
  277
  308
  339
  369
  396
  422
  447
  468
  487
  505
  521
  536
  548
  560
  570
  579
  588
  596
  605
  614
  623
  632
  642
  655
  681
  709
  738
  769
Total cash flow (excl. dividends), $m
  33
  48
  60
  69
  78
  87
  96
  105
  114
  123
  132
  140
  148
  156
  164
  172
  180
  187
  195
  203
  211
  219
  228
  237
  246
  256
  268
  294
  320
  347
  375
Retained Cash Flow (-), $m
  -190
  -117
  -139
  -159
  -180
  -201
  -222
  -243
  -264
  -284
  -304
  -323
  -342
  -360
  -378
  -396
  -414
  -432
  -450
  -469
  -487
  -506
  -526
  -547
  -568
  -591
  -614
  -639
  -665
  -692
  -721
Prev. year cash balance distribution, $m
 
  8
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -61
  -79
  -90
  -102
  -114
  -126
  -138
  -149
  -161
  -172
  -183
  -194
  -204
  -214
  -225
  -235
  -245
  -255
  -265
  -276
  -287
  -298
  -310
  -322
  -335
  -346
  -345
  -345
  -345
  -346
Discount rate, %
 
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
  34.58
PV of cash for distribution, $m
 
  -57
  -66
  -69
  -70
  -70
  -68
  -65
  -61
  -56
  -51
  -45
  -39
  -33
  -27
  -22
  -18
  -14
  -11
  -8
  -6
  -4
  -3
  -2
  -1
  -1
  -1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  94.5
  89.7
  85.7
  82.2
  79.3
  76.8
  74.7
  72.8
  71.2
  69.8
  68.6
  67.6
  66.7
  66.0
  65.4
  64.8
  64.4
  64.0
  63.7
  63.4
  63.3
  63.1
  63.0
  62.9
  62.9
  62.9
  62.9
  62.9
  62.9
  62.9

CareTrust REIT, Inc. is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities. As of December 31, 2016, the 93 facilities leased to The Ensign Group, Inc. had a total of 9,916 beds and units and are located in Arizona, California, Colorado, Idaho, Iowa, Nebraska, Nevada, Texas, Utah and Washington; the 16 facilities leased to affiliates of Pristine Senior Living, LLC had a total of 1,488 beds and units; and the 42 remaining leased properties had a total of 3,515 beds and units and are located in California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Maryland, Michigan, Minnesota, North Carolina, Texas, Virginia, Washington and Wisconsin.

FINANCIAL RATIOS  of  CareTrust REIT (CTRE)

Valuation Ratios
P/E Ratio 43.5
Price to Sales 12
Price to Book 2.8
Price to Tangible Book
Price to Cash Flow 19.7
Price to Free Cash Flow 20
Growth Rates
Sales Growth Rate 40%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate -45.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 99.6%
Total Debt to Equity 99.6%
Interest Coverage 2
Management Effectiveness
Return On Assets 6.3%
Ret/ On Assets - 3 Yr. Avg. 4.6%
Return On Total Capital 4%
Ret/ On T. Cap. - 3 Yr. Avg. 1.2%
Return On Equity 8.1%
Return On Equity - 3 Yr. Avg. 2.6%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 78.1%
EBITDA Margin - 3 Yr. Avg. 69%
Operating Margin 50.5%
Oper. Margin - 3 Yr. Avg. 40.3%
Pre-Tax Margin 27.6%
Pre-Tax Margin - 3 Yr. Avg. 9.1%
Net Profit Margin 27.6%
Net Profit Margin - 3 Yr. Avg. 9.1%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 127.6%

CTRE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CTRE stock intrinsic value calculation we used $105 million for the last fiscal year's total revenue generated by CareTrust REIT. The default revenue input number comes from 2016 income statement of CareTrust REIT. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CTRE stock valuation model: a) initial revenue growth rate of 26.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.4%, whose default value for CTRE is calculated based on our internal credit rating of CareTrust REIT, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of CareTrust REIT.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CTRE stock the variable cost ratio is equal to 40%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $10 million in the base year in the intrinsic value calculation for CTRE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.6% for CareTrust REIT.

Corporate tax rate of 27% is the nominal tax rate for CareTrust REIT. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CTRE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CTRE are equal to 732.9%.

Life of production assets of 24 years is the average useful life of capital assets used in CareTrust REIT operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CTRE is equal to -15.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $452 million for CareTrust REIT - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 75.521 million for CareTrust REIT is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of CareTrust REIT at the current share price and the inputted number of shares is $1.5 billion.

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COMPANY NEWS

▶ CareTrust REIT Expands Virginia Seniors Housing Portfolio   [Oct-03-17 08:05AM  GlobeNewswire]
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▶ CareTrust REIT Expands Skilled Nursing Portfolio in Texas   [Sep-05-17 08:05AM  GlobeNewswire]
▶ CareTrust REIT Provides an Update on its Texas Properties   [Aug-31-17 11:59PM  GlobeNewswire]
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▶ CareTrust REIT reports 2Q results   [Aug-04-17 02:49AM  Associated Press]
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▶ 3 Dividend Stock Winners   [May-25-17 09:21AM  Motley Fool]
▶ Stocks With Rising Composite Ratings: CareTrust REIT   [May-18-17 10:51AM  Investor's Business Daily]
▶ CareTrust REIT reports 1Q results   [May-02-17 07:15PM  Associated Press]
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▶ CareTrust REIT Acquires Illinois Skilled Nursing Portfolio   [Mar-02-17 08:05AM  GlobeNewswire]
▶ If You're in Your 30s, Consider Buying These Stocks   [Feb-17-17 10:35AM  Motley Fool]
▶ 5 Stocks With Bigger Dividends Than ExxonMobil   [Jan-13-17 08:40AM  at Motley Fool]
▶ Is Caretrust REIT Inc (CTRE) A Good Stock To Buy?   [Dec-08-16 02:33PM  at Insider Monkey]
▶ CareTrust REIT Acquires Texas Portfolio   [Dec-01-16 08:05AM  GlobeNewswire]
Financial statements of CTRE
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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