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

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $40.1818.

A number of equities analysts have commented on the company. Jefferies Financial Group raised their price objective on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Citizens Jmp began coverage on CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target for the company. KeyCorp upped 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. Citigroup initiated coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating on the stock. Finally, UBS Group boosted their target price on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $40.00 on Wednesday. The firm has a 50-day moving average price of $38.08 and a two-hundred day moving average price of $36.26. CareTrust REIT has a 12-month low of $25.48 and a 12-month high of $41.72. The company has a market capitalization of $8.93 billion, a P/E ratio of 50.63, a P/E/G ratio of 1.25 and a beta of 0.75. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.335 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 annualized dividend and a yield of 3.4%. CareTrust REIT’s dividend payout ratio is presently 86.45%.

Institutional Trading of CareTrust REIT

Several large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its position in CareTrust REIT by 496.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,670 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 2,222 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of CareTrust REIT during the 4th quarter valued at approximately $40,000. T. Rowe Price Investment Management Inc. increased its position in CareTrust REIT by 108.5% during the 4th 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 purchasing an additional 3,379,732 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in CareTrust REIT by 7.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,844 shares of the real estate investment trust’s stock valued at $754,000 after purchasing an additional 1,362 shares during the last quarter. Finally, Summit Global Investments boosted its position in CareTrust REIT by 120.6% in 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 buying an additional 19,852 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.