CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Consensus Rating of “Moderate Buy” from Analysts

CareTrust REIT, Inc. (NASDAQ:CTREGet Free Report) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.57.

A number of research firms have commented on CTRE. KeyCorp boosted their price target on shares of CareTrust REIT from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, January 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price target for the company. Finally, Royal Bank of Canada cut their price target on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st.

View Our Latest Stock Report on CareTrust REIT

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Graham Capital Management L.P. bought a new position in CareTrust REIT in the 3rd quarter worth $943,000. Wellington Management Group LLP raised its holdings in CareTrust REIT by 8.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust’s stock worth $147,834,000 after purchasing an additional 542,832 shares in the last quarter. Econ Financial Services Corp bought a new position in CareTrust REIT in the 3rd quarter worth $544,000. Deutsche Bank AG raised its holdings in CareTrust REIT by 26.3% in the 3rd quarter. Deutsche Bank AG now owns 167,060 shares of the real estate investment trust’s stock worth $3,425,000 after purchasing an additional 34,768 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in CareTrust REIT by 466.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 425,000 shares of the real estate investment trust’s stock worth $8,712,000 after purchasing an additional 350,000 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Price Performance

CTRE stock opened at $24.05 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.67 and a quick ratio of 8.67. CareTrust REIT has a one year low of $18.18 and a one year high of $24.57. The stock has a market cap of $3.25 billion, a PE ratio of 49.08 and a beta of 1.05. The firm has a 50 day simple moving average of $22.84 and a two-hundred day simple moving average of $22.25.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.16 annualized dividend and a yield of 4.82%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s dividend payout ratio is presently 236.73%.

About CareTrust REIT

(Get Free Report

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.

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Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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