CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $31.00 Consensus Price Target from Analysts

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.00.

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Wedbush restated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Royal Bank of Canada cut their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a report on Thursday, March 13th.

CareTrust REIT Stock Up 0.7 %

Shares of CareTrust REIT stock traded up $0.19 during trading hours on Thursday, reaching $29.14. 922,060 shares of the company's stock were exchanged, compared to its average volume of 1,796,611. The stock has a market cap of $5.59 billion, a P/E ratio of 36.89, a P/E/G ratio of 1.25 and a beta of 0.88. The company has a 50 day moving average of $28.16 and a two-hundred day moving average of $28.12. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT has a fifty-two week low of $24.35 and a fifty-two week high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period in the prior year, the firm posted $0.25 EPS. On average, sell-side analysts forecast that CareTrust REIT will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.335 per share. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.60%. The ex-dividend date was Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is presently 145.65%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of CareTrust REIT by 264.9% in the third quarter. Barclays PLC now owns 259,820 shares of the real estate investment trust's stock valued at $8,017,000 after acquiring an additional 188,622 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of CareTrust REIT during the 3rd quarter worth approximately $576,000. Franklin Resources Inc. increased its holdings in shares of CareTrust REIT by 2.3% during the third quarter. Franklin Resources Inc. now owns 58,065 shares of the real estate investment trust's stock worth $1,754,000 after purchasing an additional 1,318 shares during the period. Principal Financial Group Inc. increased its holdings in shares of CareTrust REIT by 5.2% during the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust's stock worth $25,870,000 after purchasing an additional 41,623 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after buying an additional 5,448,904 shares in 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.