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

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $31.17.

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

CareTrust REIT Stock Performance

Shares of CTRE stock traded up $0.20 during trading hours on Monday, reaching $28.96. 1,509,811 shares of the company's stock were exchanged, compared to its average volume of 1,819,392. The company has a market cap of $5.55 billion, a P/E ratio of 36.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The company's 50 day moving average is $28.49 and its two-hundred day moving average is $27.82. CareTrust REIT has a 1 year low of $24.35 and a 1 year high of $33.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.335 dividend. The ex-dividend date was Monday, March 31st. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.63%. CareTrust REIT's dividend payout ratio is currently 145.65%.

Institutional Trading of CareTrust REIT

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after acquiring an additional 5,448,904 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in CareTrust REIT by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust's stock valued at $67,784,000 after purchasing an additional 126,280 shares in the last quarter. Corient Private Wealth LLC grew its stake in CareTrust REIT by 9.2% during the 4th quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust's stock valued at $608,000 after purchasing an additional 1,903 shares in the last quarter. Rhumbline Advisers increased its stake in shares of CareTrust REIT by 26.9% in the fourth quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust's stock worth $15,491,000 after buying an additional 121,328 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CareTrust REIT by 24.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust's stock worth $78,220,000 after acquiring an additional 568,634 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

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.