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

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) have received an average rating of "Moderate Buy" from the six research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $31.00.

CTRE has been the subject of several analyst reports. Wells Fargo & Company dropped their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada decreased their target price on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Wedbush reiterated an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research report on Thursday, March 13th.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded up $0.14 during trading hours on Friday, reaching $28.76. 159,256 shares of the stock traded hands, compared to its average volume of 1,813,461. The company's 50-day simple moving average is $27.21 and its two-hundred day simple moving average is $28.33. The company has a market capitalization of $5.40 billion, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. CareTrust REIT has a 52-week low of $23.26 and a 52-week high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same period in the previous year, the firm earned $0.25 EPS. Equities research analysts forecast that CareTrust REIT will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.335 dividend. The ex-dividend date of this dividend was Monday, March 31st. 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 4.66%. CareTrust REIT's payout ratio is 169.62%.

Institutional Trading of CareTrust REIT

Several institutional investors have recently added to or reduced their stakes in CTRE. Trust Co. of Toledo NA OH lifted its stake in CareTrust REIT by 2.7% during the 1st quarter. Trust Co. of Toledo NA OH now owns 36,568 shares of the real estate investment trust's stock valued at $1,045,000 after acquiring an additional 975 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of CareTrust REIT by 13.1% during the 1st quarter. Sound Income Strategies LLC now owns 522,829 shares of the real estate investment trust's stock valued at $14,942,000 after buying an additional 60,733 shares during the period. Fifth Third Bancorp boosted its stake in shares of CareTrust REIT by 217.5% in the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after buying an additional 1,355 shares during the last quarter. Handelsbanken Fonder AB increased its position in CareTrust REIT by 10.9% during the first quarter. Handelsbanken Fonder AB now owns 48,646 shares of the real estate investment trust's stock valued at $1,390,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in CareTrust REIT by 194.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 41,606 shares of the real estate investment trust's stock worth $1,189,000 after purchasing an additional 27,466 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.