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

Key Points

• CareTrust REIT, Inc. has received a consensus rating of "Moderate Buy" from analysts, with an average twelve-month target price of $33.43.
• Recent target price upgrades include $39.00 from Raymond James and $38.00 from Wells Fargo, reflecting growing investor confidence.
• The company has announced a quarterly dividend of $0.335 per share, representing an annualized yield of 4.0%.

CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) has been given an average rating of "Moderate Buy" by the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $33.4286.

A number of brokerages have weighed in on CTRE. Raymond James Financial set a $39.00 target price on shares of CareTrust REIT and gave the stock a "strong-buy" rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. Wells Fargo & Company lifted their target price on CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. Finally, KeyCorp upped their price target on CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th.

Institutional Investors Weigh In On CareTrust REIT

Several institutional investors have recently modified their holdings of CTRE. Parallel Advisors LLC raised its stake in shares of CareTrust REIT by 109.5% during the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust's stock worth $34,000 after buying an additional 575 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 644 shares during the period. Glen Eagle Advisors LLC bought a new stake in shares of CareTrust REIT during the 4th quarter valued at $56,000. Fifth Third Bancorp lifted 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 valued at $57,000 after purchasing an additional 1,355 shares during the period. Finally, Twin Tree Management LP acquired a new position in shares of CareTrust REIT in the 1st quarter valued at $58,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $33.86 on Wednesday. The stock has a 50-day simple moving average of $32.49 and a 200 day simple moving average of $29.83. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 42.85, a P/E/G ratio of 1.25 and a beta of 0.84. 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 has a 12-month low of $24.79 and a 12-month high of $34.92.

CareTrust REIT Dividend Announcement

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