CareTrust REIT (NYSE:CTRE) Price Target Raised to $42.00 at Wells Fargo & Company

CareTrust REIT (NYSE:CTRE) had its target price raised by Wells Fargo & Company from $41.00 to $42.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also weighed in on CTRE. Jefferies Financial Group increased their price objective on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. BMO Capital Markets upgraded CareTrust REIT from a “hold” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Friday, January 9th. Weiss Ratings raised CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, January 26th. Citizens Jmp assumed coverage on CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price target for the company. Finally, Cantor Fitzgerald raised their price objective on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $42.90.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $37.28 on Thursday. 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 $8.32 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.53 and a beta of 0.74. The firm’s 50-day moving average is $38.81 and its two-hundred day moving average is $36.79. CareTrust REIT has a 12 month low of $25.82 and a 12 month high of $41.72.

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

CareTrust REIT Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTRE. Vanguard Group Inc. lifted its holdings in CareTrust REIT by 14.1% during the 3rd quarter. Vanguard Group Inc. now owns 32,973,216 shares of the company’s stock worth $1,143,511,000 after buying an additional 4,067,975 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of CareTrust REIT by 108.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock worth $234,820,000 after acquiring an additional 3,379,732 shares in the last quarter. Norges Bank purchased a new stake in shares of CareTrust REIT during the fourth quarter worth $114,810,000. Invesco Ltd. raised its stake in shares of CareTrust REIT by 201.8% in the second quarter. Invesco Ltd. now owns 3,772,350 shares of the company’s stock valued at $115,434,000 after acquiring an additional 2,522,260 shares in the last quarter. Finally, Hudson Bay Capital Management LP raised its stake in shares of CareTrust REIT by 713.4% in the third quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the company’s stock valued at $59,321,000 after acquiring an additional 1,989,394 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About CareTrust REIT

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.