CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Average Recommendation of “Hold” from Brokerages

CareTrust REIT, Inc. (NASDAQ:CTREGet Rating) has been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, one has 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 issued a report on the stock in the last year is $21.17.

A number of analysts have commented on the company. TheStreet downgraded CareTrust REIT from a “b” rating to a “c+” rating in a research report on Monday, February 14th. Credit Suisse Group assumed coverage on CareTrust REIT in a research report on Tuesday, February 1st. They issued a “neutral” rating and a $22.00 price objective for the company. Barclays downgraded CareTrust REIT from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $17.00 in a research report on Monday, April 18th. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a research report on Friday, March 11th. Finally, StockNews.com assumed coverage on CareTrust REIT in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

A number of hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE increased its holdings in CareTrust REIT by 16.2% during the 1st quarter. US Bancorp DE now owns 7,204 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 1,006 shares in the last quarter. American Century Companies Inc. increased its holdings in CareTrust REIT by 27.9% during the 1st quarter. American Century Companies Inc. now owns 2,512,259 shares of the real estate investment trust’s stock valued at $48,487,000 after purchasing an additional 548,150 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in CareTrust REIT by 18.5% during the 1st quarter. State of Tennessee Treasury Department now owns 66,037 shares of the real estate investment trust’s stock valued at $1,275,000 after purchasing an additional 10,301 shares in the last quarter. LDR Capital Management LLC acquired a new stake in CareTrust REIT during the 1st quarter valued at $579,000. Finally, Dean Investment Associates LLC increased its holdings in CareTrust REIT by 12.4% during the 1st quarter. Dean Investment Associates LLC now owns 72,791 shares of the real estate investment trust’s stock valued at $1,405,000 after purchasing an additional 8,039 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CTRE opened at $16.63 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 207.88 and a beta of 1.20. The business’s 50-day simple moving average is $17.85 and its 200-day simple moving average is $19.82. CareTrust REIT has a 52 week low of $15.90 and a 52 week high of $24.58.

CareTrust REIT (NASDAQ:CTREGet Rating) last announced its earnings results on Tuesday, February 15th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). CareTrust REIT had a net margin of 4.26% and a return on equity of 0.89%. During the same period in the prior year, the company posted $0.36 EPS. As a group, equities research analysts forecast that CareTrust REIT will post 1.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.61%. CareTrust REIT’s dividend payout ratio is presently 1,375.00%.

About CareTrust REIT (Get Rating)

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.

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Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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