CareTrust REIT (NASDAQ:CTRE) Price Target Raised to $48.00

CareTrust REIT (NASDAQ:CTRE) had its price objective increased by UBS Group from $44.00 to $48.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Several other research analysts have also commented on CTRE. The Goldman Sachs Group set a $44.00 price target on CareTrust REIT in a research report on Thursday, January 22nd. Wells Fargo & Company increased their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Cantor Fitzgerald lifted their price objective on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday. Citizens Jmp assumed coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 target price on the stock. Finally, Royal Bank Of Canada boosted their price target on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.91.

CareTrust REIT Stock Up 0.1%

Shares of CTRE opened at $39.99 on Wednesday. The company’s 50-day moving average price is $37.49 and its 200 day moving average price is $35.84. CareTrust REIT has a 12-month low of $24.79 and a 12-month high of $41.36. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market cap of $8.93 billion, a P/E ratio of 50.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT’s payout ratio is 86.45%.

Institutional Trading of CareTrust REIT

A number of institutional investors have recently bought and sold shares of the business. Kemnay Advisory Services Inc. acquired a new stake in shares of CareTrust REIT during the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC lifted its position in shares of CareTrust REIT by 520.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 728 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 644 shares during the last quarter. Heritage Wealth Advisors boosted its holdings in shares of 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 valued at $35,000 after buying an additional 300 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 555 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

About CareTrust REIT

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.