CareTrust REIT, Inc. (CTRE) Given Average Rating of “Hold” by Analysts
CareTrust REIT, Inc. (NASDAQ:CTRE) has been assigned a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.33.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of CareTrust REIT from a “buy” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub raised shares of CareTrust REIT from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Finally, KeyCorp reaffirmed a “buy” rating and set a $20.00 target price on shares of CareTrust REIT in a report on Friday, August 25th.
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CareTrust REIT (NASDAQ:CTRE) traded up 0.31% during mid-day trading on Friday, hitting $19.29. 347,014 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $19.17 and its 200-day moving average price is $18.48. The stock has a market cap of $1.46 billion, a PE ratio of 43.84 and a beta of 0.85. CareTrust REIT has a 12 month low of $12.70 and a 12 month high of $19.86.
The company 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. This represents a $0.74 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Thursday, September 28th. CareTrust REIT’s dividend payout ratio (DPR) is presently 164.45%.
Institutional investors have recently made changes to their positions in the business. IndexIQ Advisors LLC grew its holdings in CareTrust REIT by 22.7% in the 2nd quarter. IndexIQ Advisors LLC now owns 86,619 shares of the real estate investment trust’s stock worth $1,606,000 after acquiring an additional 15,999 shares during the last quarter. Citigroup Inc. grew its holdings in CareTrust REIT by 12.3% in the 2nd quarter. Citigroup Inc. now owns 81,318 shares of the real estate investment trust’s stock worth $1,508,000 after acquiring an additional 8,909 shares during the last quarter. Mason Street Advisors LLC grew its holdings in CareTrust REIT by 10.0% in the 1st quarter. Mason Street Advisors LLC now owns 15,484 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 1,410 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in CareTrust REIT in the 2nd quarter worth $313,000. Finally, Bank of America Corp DE grew its holdings in CareTrust REIT by 191.4% in the 1st quarter. Bank of America Corp DE now owns 765,382 shares of the real estate investment trust’s stock worth $12,873,000 after acquiring an additional 502,765 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.
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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