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

CareTrust REIT, Inc. (NASDAQ:CTREGet Free Report) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.17.

A number of research analysts recently issued reports on CTRE shares. Wedbush reiterated an “underperform” rating and issued a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, March 13th.

Read Our Latest Stock Report on CTRE

CareTrust REIT Trading Up 0.1%

NASDAQ CTRE opened at $30.53 on Friday. CareTrust REIT has a one year low of $24.57 and a one year high of $33.15. The firm has a 50 day simple moving average of $28.99 and a 200-day simple moving average of $27.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 1.25 and a beta of 0.83.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.39%. CareTrust REIT’s dividend payout ratio is presently 145.65%.

Institutional Trading of CareTrust REIT

Several institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in shares of CareTrust REIT during the 1st quarter worth approximately $11,228,000. Intech Investment Management LLC increased its holdings in shares of CareTrust REIT by 74.0% in the 1st quarter. Intech Investment Management LLC now owns 276,041 shares of the real estate investment trust’s stock valued at $7,889,000 after acquiring an additional 117,399 shares during the period. Anchor Investment Management LLC acquired a new position in shares of CareTrust REIT in the 1st quarter valued at $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CareTrust REIT by 12.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,292,881 shares of the real estate investment trust’s stock valued at $36,951,000 after acquiring an additional 138,503 shares during the period. Finally, Uniplan Investment Counsel Inc. acquired a new position in shares of CareTrust REIT in the 1st quarter valued at $3,287,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About CareTrust REIT

(Get Free Report

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.

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Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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