CareTrust REIT, Inc. (NASDAQ:CTRE) Given Consensus Recommendation of “Hold” by Analysts

Shares of CareTrust REIT, Inc. (NASDAQ:CTREGet Free Report) have received a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $30.67.

A number of equities analysts recently commented on the company. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. KeyCorp lifted their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th.

Read Our Latest Stock Analysis on CTRE

CareTrust REIT Stock Up 3.0 %

Shares of NASDAQ CTRE opened at $27.72 on Tuesday. The firm’s fifty day moving average is $28.01 and its 200 day moving average is $28.97. CareTrust REIT has a 52 week low of $20.10 and a 52 week high of $33.15. 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 company has a market cap of $4.75 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 1.25 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTREGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The business had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period in the previous year, the company earned $0.35 EPS. On average, equities research analysts expect that CareTrust REIT will post 1.5 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.18%. CareTrust REIT’s payout ratio is currently 161.11%.

Institutional Trading of CareTrust REIT

A number of institutional investors and hedge funds have recently bought and sold shares of CTRE. Wellington Management Group LLP grew its holdings in shares of CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after buying an additional 670,348 shares during the last quarter. State Street Corp lifted its position in CareTrust REIT by 6.7% in the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after acquiring an additional 520,783 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in CareTrust REIT by 381.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after purchasing an additional 5,448,904 shares during the last quarter. FMR LLC increased its holdings in shares of CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of CareTrust REIT by 7.4% in the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock worth $115,209,000 after purchasing an additional 258,271 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

About CareTrust REIT

(Get Free Report

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.

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Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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