CareTrust REIT, Inc. (NASDAQ:CTRE) Given Average Rating of “Moderate Buy” by Brokerages

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $23.86.

CTRE has been the topic of a number of analyst reports. Royal Bank of Canada cut their price target on CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. KeyCorp raised their price objective on CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on CareTrust REIT in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company.

CareTrust REIT Trading Down 0.6 %

Shares of NASDAQ:CTRE opened at $25.46 on Thursday. CareTrust REIT has a 12-month low of $18.18 and a 12-month high of $26.43. The business’s fifty day simple moving average is $24.33 and its 200-day simple moving average is $23.09. The company has a market capitalization of $3.62 billion, a PE ratio of 48.96 and a beta of 1.03. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 0.36.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.16 dividend on an annualized basis and a yield of 4.56%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s payout ratio is currently 223.08%.

Institutional Trading of CareTrust REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its position in CareTrust REIT by 113.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 739 shares during the period. ORG Partners LLC acquired a new position in shares of CareTrust REIT in the 3rd quarter valued at about $31,000. USA Financial Formulas acquired a new position in shares of CareTrust REIT in the 4th quarter valued at about $67,000. AlphaMark Advisors LLC lifted its holdings in shares of CareTrust REIT by 245.2% in the 4th quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 2,575 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of CareTrust REIT by 114,366.7% in the 1st quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 6,862 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

About CareTrust REIT

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.