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

CareTrust REIT, Inc. (NASDAQ:CTRE) has been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.00.

A number of equities research analysts have recently weighed in on CTRE shares. UBS Group lifted their price objective on CareTrust REIT from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. KeyCorp lifted their price target on shares of CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Citigroup initiated coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating for the company. Jefferies Financial Group raised their target price on shares of CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a research report on Thursday, January 22nd.

Institutional Investors Weigh In On CareTrust REIT

Several hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in CareTrust REIT by 134.2% in 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. Heritage Wealth Advisors grew its position in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 300 shares during the period. Allworth Financial LP increased its stake in shares of CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 555 shares in the last quarter. Groesbeck Investment Management Corp NJ purchased a new position in CareTrust REIT during the 4th quarter valued at about $43,000. Finally, Farther Finance Advisors LLC boosted its stake in CareTrust REIT by 75.1% during the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 640 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE opened at $38.86 on Friday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. CareTrust REIT has a 12 month low of $24.79 and a 12 month high of $39.27. The company has a 50-day moving average price of $36.97 and a 200-day moving average price of $35.26.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.335 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.4%. CareTrust REIT’s dividend payout ratio is 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.