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

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $39.00.

A number of equities research analysts have recently commented on the company. Jefferies Financial Group increased their target price on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. KeyCorp increased their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Citigroup started coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating for the company. Wells Fargo & Company increased their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Finally, The Goldman Sachs Group set a $44.00 price objective on shares of CareTrust REIT in a report on Thursday, January 22nd.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $38.86 on Friday. CareTrust REIT has a twelve month low of $24.79 and a twelve month high of $39.27. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $8.68 billion, a P/E ratio of 49.19, a PEG ratio of 1.25 and a beta of 0.75. The stock’s 50 day moving average is $36.97 and its 200 day moving average is $35.26.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 100.00%.

Institutional Investors Weigh In On CareTrust REIT

Several large investors have recently bought and sold shares of CTRE. EverSource Wealth Advisors LLC raised its position in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 644 shares during the last quarter. Heritage Wealth Advisors raised its holdings in shares of CareTrust REIT by 42.9% during the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Allworth Financial LP lifted its position in CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 555 shares during the period. Groesbeck Investment Management Corp NJ bought a new position in CareTrust REIT during the fourth quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC boosted its holdings in CareTrust REIT by 75.1% in the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 640 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Company Profile

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.