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

CareTrust REIT, Inc. (NASDAQ:CTREGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.57.

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of CareTrust REIT from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, November 27th. Royal Bank of Canada decreased their target price on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price for the company. TheStreet raised shares of CareTrust REIT from a “c+” rating to a “b” rating in a research note on Thursday, November 9th. Finally, KeyCorp lifted their target price on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, January 5th.

View Our Latest Report on CTRE

CareTrust REIT Trading Up 1.9 %

CareTrust REIT stock opened at $22.93 on Tuesday. The company has a 50 day moving average price of $22.06 and a 200 day moving average price of $21.41. CareTrust REIT has a 52 week low of $17.86 and a 52 week high of $23.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.67 and a current ratio of 8.67. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 46.80 and a beta of 1.04.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Thursday, December 28th. CareTrust REIT’s payout ratio is presently 228.57%.

Institutional Investors Weigh In On CareTrust REIT

Several institutional investors and hedge funds have recently modified their holdings of the business. Eagle Asset Management Inc. bought a new position in CareTrust REIT in the 4th quarter worth $4,978,000. Evoke Wealth LLC bought a new position in CareTrust REIT in the 4th quarter worth $1,334,000. Allianz Asset Management GmbH raised its holdings in CareTrust REIT by 13.2% in the 4th quarter. Allianz Asset Management GmbH now owns 44,151 shares of the real estate investment trust’s stock worth $988,000 after acquiring an additional 5,163 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in CareTrust REIT by 520.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 20,040 shares of the real estate investment trust’s stock worth $448,000 after acquiring an additional 16,810 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in CareTrust REIT by 41.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 155,100 shares of the real estate investment trust’s stock worth $3,471,000 after acquiring an additional 45,400 shares during the period. Institutional investors and hedge funds own 92.24% of the company’s stock.

CareTrust REIT Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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