CareTrust REIT, Inc. (NYSE:CTRE) Receives $44.82 Average Price Target from Analysts

CareTrust REIT, Inc. (NYSE:CTRE) has earned an average recommendation of “Buy” from the thirteen analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $44.8182.

CTRE has been the subject of a number of research reports. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. KeyCorp reissued an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a research report on Friday, May 29th. Raymond James Financial began coverage on CareTrust REIT in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 target price on the stock. Mizuho set a $45.00 price target on CareTrust REIT in a research note on Friday, May 22nd. Finally, Wells Fargo & Company lifted their price target on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st.

CareTrust REIT Stock Down 1.7%

Shares of CTRE stock traded down $0.69 during trading on Tuesday, hitting $40.17. 1,816,562 shares of the company were exchanged, compared to its average volume of 3,178,245. The business’s 50-day simple moving average is $39.79 and its 200 day simple moving average is $38.83. CareTrust REIT has a twelve month low of $30.21 and a twelve month high of $43.08. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.81 and a beta of 0.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.39 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.56 annualized dividend and a dividend yield of 3.9%. CareTrust REIT’s dividend payout ratio is 100.00%.

Institutional Investors Weigh In On CareTrust REIT

Several institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. lifted its holdings in shares of CareTrust REIT by 0.7% during the 4th quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock valued at $1,475,000 after purchasing an additional 282 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in CareTrust REIT by 2.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock worth $373,000 after purchasing an additional 291 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in CareTrust REIT by 1.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock worth $1,015,000 after buying an additional 297 shares during the period. Tocqueville Asset Management L.P. raised its holdings in CareTrust REIT by 2.8% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock worth $378,000 after buying an additional 300 shares during the period. Finally, UMB Bank n.a. lifted its stake in CareTrust REIT by 25.3% in the fourth quarter. UMB Bank n.a. now owns 1,525 shares of the company’s stock valued at $55,000 after buying an additional 308 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.