CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $37.8889.

A number of brokerages have weighed in on CTRE. Cantor Fitzgerald assumed coverage on CareTrust REIT in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Jefferies Financial Group increased their target price on shares of CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. UBS Group lifted their price target on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, KeyCorp increased their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th.

CareTrust REIT Stock Performance

CTRE stock opened at $37.74 on Tuesday. The firm has a market cap of $8.43 billion, a PE ratio of 47.77, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $36.83 and a 200-day moving average price of $34.63. CareTrust REIT has a 1-year low of $24.79 and a 1-year high of $38.32.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.335 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 annualized dividend and a dividend yield of 3.6%. CareTrust REIT’s payout ratio is currently 100.00%.

Institutional Trading of CareTrust REIT

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in CareTrust REIT by 109.5% during the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 575 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 644 shares in the last quarter. Heritage Wealth Advisors raised its holdings in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP lifted its position in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 555 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in CareTrust REIT by 75.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 640 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.