CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $30.67 Consensus Price Target from Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $30.67.

CTRE has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $34.00 to $26.00 in a research note on Thursday. Finally, KeyCorp increased their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th.

CareTrust REIT Trading Up 0.8 %

Shares of CareTrust REIT stock opened at $26.74 on Friday. CareTrust REIT has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The business’s fifty day moving average is $29.37 and its two-hundred day moving average is $28.78. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.58 billion, a PE ratio of 37.14, a P/E/G ratio of 1.59 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The business had revenue of $77.38 million for the quarter, compared to analysts’ expectations of $74.12 million. During the same quarter last year, the company posted $0.35 earnings per share. Analysts anticipate that CareTrust REIT will post 1.5 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.34%. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Institutional Investors Weigh In On CareTrust REIT

A number of large investors have recently added to or reduced their stakes in CTRE. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT in the 2nd quarter worth $27,000. Rothschild Investment LLC acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at approximately $34,000. Blue Trust Inc. boosted its stake in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 772 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of CareTrust REIT during the second quarter worth approximately $40,000. Finally, Versant Capital Management Inc increased its stake in shares of CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 743 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Company Profile

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.