CareTrust REIT (NYSE:CTRE – Free Report) had its price target upped by Cantor Fitzgerald from $42.00 to $43.00 in a report released on Monday morning, MarketBeat.com reports. The brokerage currently has a neutral rating on the stock.
A number of other equities research analysts also recently issued reports on the company. BMO Capital Markets boosted their price target on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research report on Friday, May 22nd. Raymond James Financial initiated coverage on shares of CareTrust REIT in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $44.91.
Read Our Latest Stock Analysis on CTRE
CareTrust REIT Trading Up 1.0%
CareTrust REIT Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is currently 98.11%.
Institutional Trading of CareTrust REIT
Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of CareTrust REIT by 36.4% in the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after acquiring an additional 47,936 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of CareTrust REIT by 11.3% during the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock valued at $961,000 after acquiring an additional 3,408 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares during the last quarter. First Trust Advisors LP lifted its stake in CareTrust REIT by 67.6% during the second quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock worth $7,502,000 after purchasing an additional 98,850 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in CareTrust REIT by 310.1% in the second quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock worth $1,121,000 after purchasing an additional 27,706 shares during the period. 87.77% of the stock is owned by institutional investors.
CareTrust REIT Company Profile
CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.
Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.
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