CareTrust REIT, Inc. (NYSE:CTRE) Receives $44.09 Average PT from Analysts

CareTrust REIT, Inc. (NYSE:CTRE) has earned an average recommendation of “Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $44.8182.

Several equities analysts recently commented on the company. Raymond James Financial set a $43.00 target price on CareTrust REIT in a research report on Tuesday. Cantor Fitzgerald raised their target price on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. UBS Group raised their target price on CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, BMO Capital Markets lifted their price objective on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday.

Hedge Funds Weigh In On CareTrust REIT

Several institutional investors have recently bought and sold shares of the business. Militia Capital Management LLC bought a new position in CareTrust REIT in the 1st quarter valued at $429,000. Parallel Advisors LLC raised its position in CareTrust REIT by 147.7% in the 1st quarter. Parallel Advisors LLC now owns 6,812 shares of the company’s stock valued at $250,000 after purchasing an additional 4,062 shares during the last quarter. NewEdge Advisors LLC raised its position in CareTrust REIT by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 37,572 shares of the company’s stock valued at $1,377,000 after purchasing an additional 1,528 shares during the last quarter. Cozad Asset Management Inc. raised its position in CareTrust REIT by 9.0% in the 1st quarter. Cozad Asset Management Inc. now owns 61,837 shares of the company’s stock valued at $2,266,000 after purchasing an additional 5,098 shares during the last quarter. Finally, Bank of America Corp DE raised its position in CareTrust REIT by 21.5% in the 1st quarter. Bank of America Corp DE now owns 1,214,974 shares of the company’s stock valued at $44,529,000 after purchasing an additional 214,992 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $37.00 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The company has a market capitalization of $8.74 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.76. CareTrust REIT has a one year low of $28.41 and a one year high of $43.08. The business has a 50 day simple moving average of $39.43 and a 200 day simple moving average of $38.48.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.39 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 4.2%. 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.