CareTrust REIT (NASDAQ:CTRE) Sets New 52-Week High – Time to Buy?

CareTrust REIT, Inc. (NASDAQ:CTRE) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $40.81 and last traded at $40.9210, with a volume of 27002 shares changing hands. The stock had previously closed at $40.01.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group lifted their price objective on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. KeyCorp boosted their price target on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Wells Fargo & Company raised 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. Citizens Jmp initiated coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 target price for the company. Finally, UBS Group raised their price target on CareTrust REIT from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CareTrust REIT has an average rating of “Moderate Buy” and a consensus target price of $39.45.

CareTrust REIT Stock Performance

The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 51.63, a PEG ratio of 1.25 and a beta of 0.75. The stock’s fifty day moving average is $37.19 and its 200-day moving average is $35.67.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT’s payout ratio is presently 86.45%.

Hedge Funds Weigh In On CareTrust REIT

Several institutional investors and hedge funds have recently modified their holdings of CTRE. Kemnay Advisory Services Inc. acquired a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC raised its holdings in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 728 shares during the period. EverSource Wealth Advisors LLC lifted its position in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 644 shares in the last quarter. Heritage Wealth Advisors boosted its stake in 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 purchasing an additional 300 shares during the period. Finally, Allworth Financial LP increased its holdings in CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 555 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.