Shares of CareTrust REIT, Inc. (NYSE:CTRE - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $43.62 and last traded at $42.7470, with a volume of 1713414 shares traded. The stock had previously closed at $42.96.
Analyst Ratings Changes
Several research firms have weighed in on CTRE. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research note on Friday, May 22nd. BMO Capital Markets lifted their target price on shares of CareTrust REIT from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, June 15th. Wells Fargo & Company boosted their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an "overweight" rating in a report on Monday, June 1st. KeyCorp reaffirmed an "overweight" rating and issued a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Finally, Raymond James Financial initiated coverage on CareTrust REIT in a report on Tuesday, June 16th. They set an "outperform" rating and a $43.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.82.
View Our Latest Analysis on CTRE
CareTrust REIT Trading Down 0.5%
The firm has a market cap of $10.10 billion, a P/E ratio of 27.40, a PEG ratio of 1.93 and a beta of 0.76. The company has a 50 day moving average of $40.09 and a 200 day moving average of $39.31. 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 Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.39 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 3.6%. CareTrust REIT's payout ratio is 100.00%.
Institutional Trading of CareTrust REIT
Several large investors have recently added to or reduced their stakes in CTRE. Kemnay Advisory Services Inc. acquired a new stake in shares of CareTrust REIT in the 4th quarter valued at $27,000. Transamerica Financial Advisors LLC increased its position in CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company's stock worth $32,000 after buying an additional 728 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock worth $34,000 after buying an additional 644 shares during the last quarter. Allworth Financial LP raised its holdings in CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company's stock valued at $36,000 after buying an additional 555 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new position in CareTrust REIT during the fourth quarter valued at about $40,000. 87.77% of the stock is owned by institutional investors.
About CareTrust REIT
(
Get Free Report)
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.
Further Reading
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