CareTrust REIT, Inc. (NYSE:CTRE) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have been assigned an average rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $42.90.

Several research analysts have recently issued reports on the stock. Citizens Jmp began coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 target price on the stock. UBS Group boosted their price objective on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Jefferies Financial Group upped their price objective on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Citigroup initiated coverage on CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating on the stock. Finally, Wells Fargo & Company lifted their target price on CareTrust REIT from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday.

Hedge Funds Weigh In On CareTrust REIT

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in CareTrust REIT by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock valued at $1,199,940,000 after acquiring an additional 210,965 shares during the period. State Street Corp grew its stake in shares of CareTrust REIT by 1.8% in the fourth quarter. State Street Corp now owns 12,426,213 shares of the company’s stock worth $453,411,000 after acquiring an additional 219,641 shares during the period. Wellington Management Group LLP raised its holdings in shares of CareTrust REIT by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock valued at $446,792,000 after purchasing an additional 1,893,143 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings 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 company’s stock valued at $234,820,000 after purchasing an additional 3,379,732 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in CareTrust REIT by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after purchasing an additional 409,411 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $37.15 on Friday. The business has a fifty day moving average price of $38.80 and a 200-day moving average price of $36.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $8.29 billion, a PE ratio of 23.97, a PEG ratio of 2.50 and a beta of 0.74. CareTrust REIT has a 1-year low of $25.82 and a 1-year high of $41.72.

CareTrust REIT (NYSE:CTRE) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. CareTrust REIT had a net margin of 67.28% and a return on equity of 8.98%. The company had revenue of $134.86 million for the quarter. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.2%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, March 31st. CareTrust REIT’s payout ratio is 86.45%.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.