CareTrust REIT, Inc. (NASDAQ:CTRE) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $18.00 to $20.00 in a research report on Tuesday, June 20th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of CareTrust REIT in a research report on Wednesday, May 17th. Zacks Investment Research upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, May 16th. TheStreet upgraded CareTrust REIT from a “c” rating to a “b” rating in a research report on Friday, May 5th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $19.00 price target on shares of CareTrust REIT in a research report on Wednesday, May 3rd. Five investment 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 $18.00.

CareTrust REIT (NASDAQ CTRE) traded up 0.55% during mid-day trading on Friday, reaching $18.24. The company’s stock had a trading volume of 318,822 shares. CareTrust REIT has a 12-month low of $12.70 and a 12-month high of $19.86.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a $0.185 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.74 annualized dividend and a dividend yield of 4.06%.

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Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in CareTrust REIT by 5.6% in the first quarter. Vanguard Group Inc. now owns 10,572,588 shares of the real estate investment trust’s stock valued at $177,831,000 after buying an additional 562,080 shares during the period. BlackRock Inc. increased its position in CareTrust REIT by 2,476.7% in the first quarter. BlackRock Inc. now owns 9,265,924 shares of the real estate investment trust’s stock valued at $155,855,000 after buying an additional 8,906,314 shares during the period. FMR LLC increased its position in CareTrust REIT by 1,036.2% in the first quarter. FMR LLC now owns 6,311,699 shares of the real estate investment trust’s stock valued at $106,163,000 after buying an additional 5,756,172 shares during the period. Bank of New York Mellon Corp increased its position in CareTrust REIT by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 2,452,402 shares of the real estate investment trust’s stock valued at $41,250,000 after buying an additional 113,591 shares during the period. Finally, State Street Corp increased its position in CareTrust REIT by 11.8% in the first quarter. State Street Corp now owns 1,743,435 shares of the real estate investment trust’s stock valued at $29,323,000 after buying an additional 184,451 shares during the period. Institutional investors and hedge funds own 86.69% 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.

Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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