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

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $37.8889.

CTRE has been the subject of several analyst reports. UBS Group boosted their price target on CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald initiated coverage on CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective for the company. Royal Bank Of Canada upped their target price on CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. KeyCorp raised their price target on CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Finally, Wells Fargo & Company upped their price objective on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th.

Institutional Trading of CareTrust REIT

A number of institutional investors have recently added to or reduced their stakes in the business. Heritage Wealth Advisors lifted its position in CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Allworth Financial LP raised its stake in shares of CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 555 shares during the period. Parallel Advisors LLC lifted its position in shares of CareTrust REIT by 109.5% during the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 644 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of CareTrust REIT by 75.1% in the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 640 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $37.41 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market cap of $8.35 billion, a PE ratio of 47.35, a P/E/G ratio of 1.25 and a beta of 0.75. The firm has a 50 day simple moving average of $36.70 and a 200-day simple moving average of $34.47. CareTrust REIT has a 1-year low of $24.79 and a 1-year high of $38.32.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, December 31st. CareTrust REIT’s payout ratio is currently 100.00%.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.