CareTrust REIT, Inc. (NASDAQ:CTRE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus: Nine brokerages give CareTrust REIT a consensus rating of "Moderate Buy" (1 sell, 2 hold, 5 buy, 1 strong buy) with an average 12‑month price target of $35.78 and several firms recently raising targets as high as $42.00.
• Company fundamentals: CTRE trades near $36.70 with a $8.19B market cap and a P/E of 46.45; it pays a $0.335 quarterly dividend ($1.34 annualized, 3.7% yield) but has a 100% payout ratio and high institutional ownership (~87.8%).

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) have received an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $35.7778.

CTRE has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Cantor Fitzgerald began coverage on shares of CareTrust REIT in a research note on Wednesday, October 1st. They set a "neutral" rating and a $37.00 price target on the stock. UBS Group assumed coverage on shares of CareTrust REIT in a report on Tuesday, November 18th. They issued a "buy" rating and a $42.00 price objective for the company. Raymond James Financial set a $39.00 price objective on shares of CareTrust REIT and gave the company a "strong-buy" rating in a research note on Tuesday, September 2nd. Finally, Royal Bank Of Canada increased their target price on CareTrust REIT from $36.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, November 10th.

CareTrust REIT Stock Up 1.3%

Shares of NASDAQ CTRE opened at $36.70 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The stock has a market capitalization of $8.19 billion, a PE ratio of 46.45, a P/E/G ratio of 1.25 and a beta of 0.81. CareTrust REIT has a one year low of $24.79 and a one year high of $37.60. The business's fifty day moving average price is $34.96 and its 200-day moving average price is $32.49.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a yield of 3.7%. CareTrust REIT's dividend payout ratio is 100.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. bought a new stake in shares of CareTrust REIT during the third quarter valued at about $788,000. Coldstream Capital Management Inc. bought a new stake in CareTrust REIT during the 3rd quarter worth approximately $223,000. Danske Bank A S purchased a new stake in CareTrust REIT in the 3rd quarter worth approximately $1,150,000. Advisory Services Network LLC purchased a new stake in CareTrust REIT in the 3rd quarter worth approximately $495,000. Finally, NewEdge Advisors LLC boosted its holdings in CareTrust REIT by 4.8% in the 3rd quarter. NewEdge Advisors LLC now owns 35,726 shares of the real estate investment trust's stock valued at $1,239,000 after purchasing an additional 1,642 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

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.

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