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

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $40.1818.

CTRE has been the subject of several recent research reports. Citizens Jmp assumed coverage on CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target for the company. UBS Group boosted their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. KeyCorp increased their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Citigroup began coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating for the company. Finally, Jefferies Financial Group increased their price target on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $40.00 on Wednesday. The firm has a market cap of $8.93 billion, a PE ratio of 50.63, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. CareTrust REIT has a 52 week low of $25.48 and a 52 week high of $41.72. The firm’s fifty day moving average is $38.08 and its 200-day moving average is $36.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 annualized dividend and a yield of 3.4%. CareTrust REIT’s payout ratio is 86.45%.

Institutional Trading of CareTrust REIT

Several hedge funds have recently modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new stake in CareTrust REIT in the fourth quarter worth $27,000. Transamerica Financial Advisors LLC boosted its position in shares of CareTrust REIT by 520.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 valued at $34,000 after buying an additional 644 shares during the period. Heritage Wealth Advisors grew its stake in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 300 shares during the period. Finally, Allworth Financial LP increased its position in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 555 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

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.