Analysts Set CareTrust REIT, Inc. (NASDAQ:CTRE) PT at $40.18

CareTrust REIT, Inc. (NASDAQ:CTRE) has received an average recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $40.1818.

A number of analysts recently commented on the company. Citizens Jmp assumed coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price objective for the company. The Goldman Sachs Group set a $44.00 price objective on shares of CareTrust REIT in a research report on Thursday, January 22nd. Citigroup assumed coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating on the stock. Royal Bank Of Canada lifted their target price on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price target on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CTRE. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT during the 4th quarter valued at $27,000. Transamerica Financial Advisors LLC grew its position in CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 728 shares during the period. Heritage Wealth Advisors increased its stake in CareTrust REIT by 42.9% during the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP increased its stake in CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 555 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of CareTrust REIT in the 4th quarter worth about $40,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Up 1.3%

Shares of CTRE opened at $39.89 on Wednesday. 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 firm has a 50 day simple moving average of $38.24 and a 200-day simple moving average of $36.34. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. CareTrust REIT has a 1-year low of $25.50 and a 1-year high of $41.72.

CareTrust REIT Announces Dividend

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

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.