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

Key Points

• CareTrust REIT, Inc. has an average rating of "Moderate Buy" from analysts, with one sell recommendation and a price target averaging $33.88.
• Institutional investors hold 87.77% of CareTrust REIT's stock, with several firms recently increasing their stakes in the company.
• The company announced a quarterly dividend of $0.335 per share, representing a yield of 3.8%, with a payout ratio of 111.67%.

CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) has received an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $33.8750.

Several analysts have recently weighed in on CTRE shares. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. KeyCorp lifted their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company boosted their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Cantor Fitzgerald initiated coverage on shares of CareTrust REIT in a research note on Wednesday. They set a "neutral" rating and a $37.00 price target for the company. Finally, Raymond James Financial set a $39.00 price target on shares of CareTrust REIT and gave the company a "strong-buy" rating in a research note on Tuesday, September 2nd.

Institutional Investors Weigh In On CareTrust REIT

Several institutional investors and hedge funds have recently made changes to their positions in CTRE. D.A. Davidson & CO. lifted its stake in shares of CareTrust REIT by 0.8% in the second quarter. D.A. Davidson & CO. now owns 39,849 shares of the real estate investment trust's stock worth $1,219,000 after acquiring an additional 327 shares during the period. SageView Advisory Group LLC raised its holdings in CareTrust REIT by 2.9% during the 2nd quarter. SageView Advisory Group LLC now owns 11,900 shares of the real estate investment trust's stock worth $364,000 after purchasing an additional 332 shares during the last quarter. J. W. Coons Advisors LLC raised its holdings in CareTrust REIT by 4.1% during the 1st quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust's stock worth $254,000 after purchasing an additional 347 shares during the last quarter. Norinchukin Bank The lifted its position in shares of CareTrust REIT by 4.6% in the 1st quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust's stock worth $248,000 after purchasing an additional 382 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of CareTrust REIT by 2.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,301 shares of the real estate investment trust's stock valued at $591,000 after purchasing an additional 405 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Trading Up 1.1%

Shares of CTRE stock opened at $35.46 on Friday. The firm has a market capitalization of $7.73 billion, a P/E ratio of 44.88, a P/E/G ratio of 1.25 and a beta of 0.82. CareTrust REIT has a twelve month low of $24.79 and a twelve month high of $35.68. 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 stock's fifty day simple moving average is $33.79 and its 200 day simple moving average is $30.80.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.335 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.34 annualized dividend and a yield of 3.8%. CareTrust REIT's payout ratio is presently 111.67%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.