Stifel Nicolaus Reaffirms “Hold” Rating for CareTrust REIT, Inc. (CTRE)
Stifel Nicolaus reaffirmed their hold rating on shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in a research report report published on Thursday, MarketBeat reports. They currently have a $19.00 target price on the real estate investment trust’s stock, up from their prior target price of $17.00.
Other analysts have also recently issued reports about the stock. BidaskClub raised shares of CareTrust REIT from a hold rating to a buy rating in a research note on Saturday, August 19th. KeyCorp set a $20.00 target price on shares of CareTrust REIT and gave the stock a buy rating in a research note on Sunday, October 29th. Capital One Financial Corporation reaffirmed an equal weight rating and issued a $21.00 target price on shares of CareTrust REIT in a research note on Sunday, October 22nd. Finally, Zacks Investment Research raised shares of CareTrust REIT from a sell rating to a hold rating in a research note on Tuesday, September 19th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $19.38.
CareTrust REIT (NASDAQ CTRE) traded down $0.12 during mid-day trading on Thursday, reaching $18.65. 422,900 shares of the company’s stock traded hands, compared to its average volume of 350,636. The stock has a market cap of $1,415.96, a PE ratio of 16.08, a P/E/G ratio of 3.99 and a beta of 0.83. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.60 and a quick ratio of 3.06. CareTrust REIT has a 12-month low of $13.36 and a 12-month high of $19.86.
CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The firm had revenue of $32.90 million during the quarter, compared to analysts’ expectations of $32.91 million. CareTrust REIT had a return on equity of 5.76% and a net margin of 25.68%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. equities analysts anticipate that CareTrust REIT will post 1.17 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.185 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.97%. CareTrust REIT’s dividend payout ratio (DPR) is presently 157.45%.
Several institutional investors and hedge funds have recently made changes to their positions in CTRE. BlackRock Inc. boosted its holdings in shares of CareTrust REIT by 2,476.7% in the 1st quarter. BlackRock Inc. now owns 9,265,924 shares of the real estate investment trust’s stock valued at $155,855,000 after purchasing an additional 8,906,314 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of CareTrust REIT by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 11,249,983 shares of the real estate investment trust’s stock valued at $208,575,000 after purchasing an additional 677,395 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of CareTrust REIT by 624.1% in the 2nd quarter. Teachers Advisors LLC now owns 764,608 shares of the real estate investment trust’s stock valued at $14,176,000 after purchasing an additional 659,012 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of CareTrust REIT by 368.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 827,763 shares of the real estate investment trust’s stock valued at $15,337,000 after purchasing an additional 651,129 shares during the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at $11,946,000. Institutional investors own 89.18% of the company’s stock.
About CareTrust REIT
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.
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