CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Average Rating of “Moderate Buy” from Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.10.

Several equities analysts recently issued reports on CTRE shares. Wells Fargo & Company started coverage on shares of CareTrust REIT in a report on Wednesday, April 19th. They issued an “equal weight” rating and a $21.00 target price on the stock. StockNews.com began coverage on shares of CareTrust REIT in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, KeyCorp upped their price objective on shares of CareTrust REIT from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, February 14th.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $19.82 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.85. CareTrust REIT has a twelve month low of $16.22 and a twelve month high of $22.46. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -247.75 and a beta of 1.13. The company’s fifty day moving average is $19.34 and its 200 day moving average is $19.42.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were paid a dividend of $0.28 per share. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.65%. CareTrust REIT’s payout ratio is presently -1,400.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Renaissance Group LLC increased its holdings in CareTrust REIT by 594.8% during the first quarter. Renaissance Group LLC now owns 94,806 shares of the real estate investment trust’s stock valued at $1,856,000 after buying an additional 81,161 shares during the last quarter. Stifel Financial Corp increased its holdings in CareTrust REIT by 1.8% in the 1st quarter. Stifel Financial Corp now owns 163,147 shares of the real estate investment trust’s stock worth $3,194,000 after acquiring an additional 2,943 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of CareTrust REIT by 2.4% during the first quarter. Great West Life Assurance Co. Can now owns 207,338 shares of the real estate investment trust’s stock worth $4,062,000 after buying an additional 4,837 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of CareTrust REIT by 6.5% during the 1st quarter. Advisors Asset Management Inc. now owns 21,734 shares of the real estate investment trust’s stock valued at $426,000 after acquiring an additional 1,322 shares during the last quarter. Finally, BlackRock Inc. lifted its position in CareTrust REIT by 0.4% in the first quarter. BlackRock Inc. now owns 17,972,815 shares of the real estate investment trust’s stock valued at $351,908,000 after buying an additional 77,177 shares during the last quarter. 85.01% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Company Profile

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CareTrust REIT, Inc operates as real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It offers independent living, memory care, and assisted, and skilled nursing facilities. The company was founded on October 29, 2013 and is headquartered in San Clemente, CA.