CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• CareTrust REIT has received an average rating of "Moderate Buy" from six brokerages, with four analysts recommending buying shares.
• The average 12-month price target for CareTrust REIT is $31.50, with recent reports from Wells Fargo and KeyCorp lifting their target prices to $32.00 and $36.00, respectively.
• CareTrust REIT recently declared a quarterly dividend of $0.335 per share, providing an annualized yield of 4.0%.

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) have been given an average rating of "Moderate Buy" by the six brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.50.

CTRE has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. KeyCorp reaffirmed an "overweight" rating and set a $36.00 target price (up previously from $33.00) on shares of CareTrust REIT in a report on Thursday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CareTrust REIT in a report on Monday.

Institutional Trading of CareTrust REIT

A number of large investors have recently modified their holdings of CTRE. Wells Fargo & Company MN increased its stake in CareTrust REIT by 20.5% in the 4th quarter. Wells Fargo & Company MN now owns 283,387 shares of the real estate investment trust's stock worth $7,666,000 after purchasing an additional 48,139 shares during the period. Sterling Capital Management LLC increased its stake in CareTrust REIT by 4,585.3% in the 4th quarter. Sterling Capital Management LLC now owns 21,740 shares of the real estate investment trust's stock worth $588,000 after purchasing an additional 21,276 shares during the period. Summit Investment Advisors Inc. increased its stake in CareTrust REIT by 34.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 19,426 shares of the real estate investment trust's stock worth $525,000 after purchasing an additional 4,974 shares during the period. Barclays PLC increased its stake in CareTrust REIT by 60.3% in the 4th quarter. Barclays PLC now owns 416,459 shares of the real estate investment trust's stock worth $11,265,000 after purchasing an additional 156,639 shares during the period. Finally, Mariner LLC increased its stake in shares of CareTrust REIT by 12.9% during the fourth quarter. Mariner LLC now owns 10,924 shares of the real estate investment trust's stock valued at $295,000 after buying an additional 1,250 shares during the period. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Up 0.4%

CTRE stock opened at $33.85 on Friday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $6.78 billion, a PE ratio of 42.85, a PEG ratio of 1.25 and a beta of 0.85. CareTrust REIT has a twelve month low of $24.79 and a twelve month high of $34.00. The stock has a 50-day simple moving average of $30.97 and a two-hundred day simple moving average of $28.86.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, June 30th. CareTrust REIT's dividend payout ratio (DPR) is 111.67%.

About CareTrust REIT

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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