CareTrust REIT (NASDAQ:CTRE) Sets New 1-Year High – Time to Buy?

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) reached a new 52-week high on Friday . The stock traded as high as $41.72 and last traded at $41.1290, with a volume of 409607 shares changing hands. The stock had previously closed at $41.14.

Analyst Ratings Changes

Several equities analysts recently commented on CTRE shares. UBS Group raised their target price on CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Cantor Fitzgerald increased their price objective on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. KeyCorp boosted their target price on shares of CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Citizens Jmp started coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $40.18.

CareTrust REIT Trading Down 1.2%

The business has a 50 day simple moving average of $37.92 and a 200 day simple moving average of $36.14. 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 company has a market cap of $9.07 billion, a price-to-earnings ratio of 51.46, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.3%. CareTrust REIT’s payout ratio is currently 86.45%.

Institutional Trading of CareTrust REIT

Several hedge funds have recently modified their holdings of the stock. Mcguire Capital Advisors Inc. bought a new position in CareTrust REIT in the 4th quarter worth approximately $40,000. T. Rowe Price Investment Management Inc. raised its position in shares of CareTrust REIT by 108.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the real estate investment trust’s stock worth $234,820,000 after acquiring an additional 3,379,732 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of CareTrust REIT by 7.0% during the fourth 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 during the last quarter. Summit Global Investments lifted its stake in shares of CareTrust REIT by 120.6% during the fourth quarter. Summit Global Investments now owns 36,318 shares of the real estate investment trust’s stock valued at $1,313,000 after acquiring an additional 19,852 shares during the period. Finally, Beacon Pointe Advisors LLC increased its position in CareTrust REIT by 4.2% in the fourth 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 period. 87.77% of the stock is owned by institutional investors.

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.