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

Shares of CareTrust REIT, Inc. (NASDAQ:CTREGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $23.57.

CTRE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They set a “hold” rating and a $23.00 price target for the company. KeyCorp boosted their price target on shares of CareTrust REIT from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, January 5th. Finally, Royal Bank of Canada dropped their price target 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.

Get Our Latest Report on CTRE

CareTrust REIT Trading Down 0.8 %

Shares of NASDAQ CTRE opened at $24.05 on Wednesday. CareTrust REIT has a 1-year low of $18.18 and a 1-year high of $24.57. The company has a market cap of $3.25 billion, a PE ratio of 49.08 and a beta of 1.05. The company has a current ratio of 8.67, a quick ratio of 8.67 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $22.84 and a two-hundred day moving average of $22.25.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Wednesday, March 27th. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s dividend payout ratio is 236.73%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTRE. Envestnet Asset Management Inc. boosted its holdings in CareTrust REIT by 15.2% during the first quarter. Envestnet Asset Management Inc. now owns 18,759 shares of the real estate investment trust’s stock worth $362,000 after purchasing an additional 2,480 shares during the last quarter. US Bancorp DE raised its position in shares of CareTrust REIT by 16.2% in the first 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 during the period. MetLife Investment Management LLC raised its position in shares of CareTrust REIT by 57.6% in the first quarter. MetLife Investment Management LLC now owns 52,286 shares of the real estate investment trust’s stock valued at $1,009,000 after purchasing an additional 19,120 shares during the period. Rhumbline Advisers raised its position in shares of CareTrust REIT by 1.1% in the first quarter. Rhumbline Advisers now owns 289,358 shares of the real estate investment trust’s stock valued at $5,585,000 after purchasing an additional 3,062 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of CareTrust REIT by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 83,652 shares of the real estate investment trust’s stock valued at $1,614,000 after purchasing an additional 10,314 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

About CareTrust REIT

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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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