CareTrust REIT, Inc. (NASDAQ:CTRE) Given Average Recommendation of “Moderate Buy” by Brokerages

CareTrust REIT, Inc. (NASDAQ:CTRE) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.67.

Several analysts have recently commented on CTRE shares. Jefferies Financial Group began coverage on shares of CareTrust REIT in a research report on Wednesday, September 20th. They issued a “buy” rating and a $23.00 price target on the stock. TheStreet cut CareTrust REIT from a “b-” rating to a “c” rating in a report on Friday, August 4th. Berenberg Bank started coverage on CareTrust REIT in a research note on Thursday, July 27th. They set a “buy” rating and a $23.00 price objective on the stock. BMO Capital Markets raised shares of CareTrust REIT from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $23.50 to $24.00 in a research note on Wednesday, August 16th. Finally, Royal Bank of Canada upgraded shares of CareTrust REIT from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $19.00 to $23.00 in a report on Monday, September 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cerity Partners LLC acquired a new stake in CareTrust REIT in the first quarter valued at approximately $548,000. Cambridge Investment Research Advisors Inc. increased its stake in CareTrust REIT by 10.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 19,694 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 1,793 shares during the period. Foundations Investment Advisors LLC acquired a new position in CareTrust REIT in the 2nd quarter worth $216,000. Anson Capital Inc. acquired a new position in CareTrust REIT in the 2nd quarter worth $225,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in CareTrust REIT by 1.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 105,366 shares of the real estate investment trust’s stock valued at $2,063,000 after buying an additional 1,523 shares during the last quarter. 92.24% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $21.68 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.08. The company’s 50-day moving average price is $20.79 and its 200 day moving average price is $20.15. CareTrust REIT has a 52 week low of $17.86 and a 52 week high of $22.52. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 61.94 and a beta of 1.09.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date was Thursday, September 28th. CareTrust REIT’s payout ratio is currently 320.01%.

CareTrust REIT Company Profile

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.