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

CareTrust REIT, Inc. (NASDAQ:CTRE) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $26.67.

CTRE has been the topic of several analyst reports. Wells Fargo & Company raised their target price on CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Royal Bank of Canada raised their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp upped their target price on CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Finally, Wedbush assumed coverage on CareTrust REIT in a report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 target price for the company.

CareTrust REIT Trading Up 0.7 %

Shares of NASDAQ CTRE opened at $29.88 on Friday. The stock’s 50 day moving average price is $27.03 and its two-hundred day moving average price is $25.24. CareTrust REIT has a 52-week low of $19.67 and a 52-week high of $30.02. The stock has a market capitalization of $4.24 billion, a P/E ratio of 57.46 and a beta of 1.09. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The company had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a return on equity of 5.31% and a net margin of 30.09%. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, analysts anticipate that CareTrust REIT will post 1.47 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 annualized dividend and a dividend yield of 3.88%. CareTrust REIT’s payout ratio is 223.08%.

Institutional Investors Weigh In On CareTrust REIT

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of CareTrust REIT by 13.3% in the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after buying an additional 2,376,832 shares during the last quarter. Centersquare Investment Management LLC lifted its stake in shares of CareTrust REIT by 1.6% in the first quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock worth $70,924,000 after buying an additional 45,733 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CareTrust REIT by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after buying an additional 281,120 shares during the period. Zimmer Partners LP acquired a new position in CareTrust REIT in the 1st quarter valued at $41,763,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in CareTrust REIT by 13.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,712,498 shares of the real estate investment trust’s stock worth $38,326,000 after acquiring an additional 209,500 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.