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

Key Points

• Analyst sentiment is positive: CareTrust REIT holds a “Moderate Buy” consensus from 13 analysts, with 10 buy ratings, one strong buy, and two holds. The average 12-month price target is $44.82.
• Shares are trading near their 52-week high: CTRE opened at $42.04, compared with a 52-week range of $31.33 to $43.62, while its market capitalization stands at approximately $9.93 billion.
• Dividend and institutional ownership remain notable: CareTrust pays a quarterly dividend of $0.39, or $1.56 annually, representing a 3.7% yield; institutional investors own 87.77% of the company.

Shares of CareTrust REIT, Inc. (NYSE:CTRE - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $44.8182.

CTRE has been the topic of a number of analyst reports. KeyCorp reaffirmed an "overweight" rating and issued a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. Zacks Research raised shares of CareTrust REIT from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Raymond James Financial initiated coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They issued an "outperform" rating and a $43.00 target price on the stock. BMO Capital Markets upped their price target on shares of CareTrust REIT from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Finally, Weiss Ratings downgraded CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, July 21st.

CareTrust REIT Stock Performance

NYSE:CTRE opened at $42.04 on Friday. The company has a market capitalization of $9.93 billion, a PE ratio of 26.95, a P/E/G ratio of 1.88 and a beta of 0.76. The company has a 50 day simple moving average of $40.14 and a two-hundred day simple moving average of $39.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. CareTrust REIT has a fifty-two week low of $31.33 and a fifty-two week high of $43.62.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT's payout ratio is currently 100.00%.

Institutional Investors Weigh In On CareTrust REIT

Institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. lifted its position in shares of CareTrust REIT by 0.7% during the 4th quarter. D.A. Davidson & CO. now owns 40,781 shares of the company's stock valued at $1,475,000 after buying an additional 282 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in CareTrust REIT by 2.9% in the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company's stock worth $373,000 after acquiring an additional 291 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in CareTrust REIT by 1.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company's stock worth $1,015,000 after acquiring an additional 297 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in CareTrust REIT by 2.8% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company's stock valued at $378,000 after acquiring an additional 300 shares during the period. Finally, UMB Bank n.a. raised its stake in CareTrust REIT by 25.3% in the 4th quarter. UMB Bank n.a. now owns 1,525 shares of the company's stock valued at $55,000 after acquiring an additional 308 shares during the period. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.

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