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

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $37.8889.

A number of brokerages have weighed in on CTRE. KeyCorp raised their price objective on CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Jefferies Financial Group raised their price target on shares of CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Cantor Fitzgerald assumed coverage on shares of CareTrust REIT in a research note on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective on the stock. Finally, UBS Group raised their price objective on shares of CareTrust REIT from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Pensionfund Sabic acquired a new position in shares of CareTrust REIT in the 4th quarter worth approximately $687,000. Pensionfund PDN bought a new position in CareTrust REIT during the fourth quarter worth $1,483,000. SG Americas Securities LLC boosted its holdings in CareTrust REIT by 737.0% in the fourth quarter. SG Americas Securities LLC now owns 865,129 shares of the real estate investment trust’s stock worth $31,283,000 after purchasing an additional 761,769 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in CareTrust REIT by 3.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,585 shares of the real estate investment trust’s stock worth $718,000 after purchasing an additional 613 shares during the period. Finally, Park Avenue Securities LLC increased its stake in CareTrust REIT by 10.6% during the fourth quarter. Park Avenue Securities LLC now owns 7,189 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 689 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 0.2%

Shares of CareTrust REIT stock opened at $37.41 on Tuesday. CareTrust REIT has a 1-year low of $24.79 and a 1-year high of $38.32. The company has a market capitalization of $8.35 billion, a PE ratio of 47.35, a P/E/G ratio of 1.25 and a beta of 0.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The business has a 50-day moving average of $36.70 and a 200-day moving average of $34.47.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is 100.00%.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.