CareTrust REIT, Inc. (NYSE:CTRE) Receives $42.82 Average PT from Analysts

CareTrust REIT, Inc. (NYSE:CTRE) has been given an average rating of “Buy” by the thirteen analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $43.0909.

Several research firms recently weighed in on CTRE. Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research report on Friday. Cantor Fitzgerald lifted their price objective on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price objective on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Finally, Zacks Research lowered shares of CareTrust REIT from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 25th.

Institutional Trading of CareTrust REIT

Several hedge funds have recently added to or reduced their stakes in CTRE. Kemnay Advisory Services Inc. bought a new stake in CareTrust REIT in the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC raised its position in shares of CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after purchasing an additional 644 shares during the period. Heritage Wealth Advisors raised its position in shares of CareTrust REIT by 42.9% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the period. Finally, Allworth Financial LP raised its position in shares of CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares during the period. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 0.4%

CareTrust REIT stock opened at $41.19 on Monday. CareTrust REIT has a fifty-two week low of $27.81 and a fifty-two week high of $43.08. The stock has a market cap of $9.73 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.71 and a beta of 0.76. The firm’s 50-day simple moving average is $39.25 and its 200 day simple moving average is $38.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.39 dividend. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. CareTrust REIT’s payout ratio is presently 100.00%.

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.