CareTrust REIT (NASDAQ:CTRE) Given New $48.00 Price Target at UBS Group

CareTrust REIT (NASDAQ:CTRE) had its target price lifted by UBS Group from $44.00 to $48.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other research firms have also commented on CTRE. Citizens Jmp began coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price objective for the company. KeyCorp lifted their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. The Goldman Sachs Group set a $44.00 target price on shares of CareTrust REIT in a research note on Thursday, January 22nd. Citigroup started coverage on CareTrust REIT in a research report on Thursday, January 22nd. They issued a “market outperform” rating for the company. Finally, Cantor Fitzgerald upped their price target on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus price target of $39.91.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $40.20 on Wednesday. The stock has a market capitalization of $8.98 billion, a P/E ratio of 50.88, a P/E/G ratio of 1.25 and a beta of 0.75. CareTrust REIT has a 1 year low of $24.79 and a 1 year high of $41.36. The business’s fifty day moving average is $37.33 and its two-hundred day moving average is $35.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders 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 3.3%. CareTrust REIT’s dividend payout ratio (DPR) is currently 86.45%.

Hedge Funds Weigh In On CareTrust REIT

Several institutional investors have recently bought and sold shares of CTRE. Mercer Global Advisors Inc. ADV boosted its stake in shares of CareTrust REIT by 7.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,844 shares of the real estate investment trust’s stock worth $754,000 after acquiring an additional 1,362 shares in the last quarter. Summit Global Investments lifted its holdings in CareTrust REIT by 120.6% in the 4th quarter. Summit Global Investments now owns 36,318 shares of the real estate investment trust’s stock worth $1,313,000 after purchasing an additional 19,852 shares during the last quarter. Beacon Pointe Advisors LLC lifted its holdings in CareTrust REIT by 4.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 241,918 shares of the real estate investment trust’s stock worth $8,749,000 after purchasing an additional 9,818 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in CareTrust REIT by 4.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 17,651 shares of the real estate investment trust’s stock worth $638,000 after purchasing an additional 777 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in CareTrust REIT during the fourth quarter valued at approximately $401,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Company Profile

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.