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

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $44.8182.

Several equities research analysts have recently weighed in on CTRE shares. Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. BMO Capital Markets increased their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank Of Canada boosted their price objective on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Mizuho set a $45.00 price objective on CareTrust REIT in a research note on Friday, May 22nd. Finally, KeyCorp reissued an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th.

CareTrust REIT Trading Up 1.8%

Shares of NYSE CTRE opened at $37.03 on Friday. The firm has a 50 day moving average price of $39.38 and a two-hundred day moving average price of $38.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. CareTrust REIT has a 52-week low of $29.52 and a 52-week high of $43.08. The stock has a market cap of $8.75 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 1.65 and a beta of 0.76.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, June 30th. CareTrust REIT’s payout ratio is currently 100.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new stake in CareTrust REIT in the first quarter worth $972,000. Militia Capital Management LLC acquired a new stake in CareTrust REIT in the first quarter worth $429,000. Parallel Advisors LLC grew its holdings in CareTrust REIT by 147.7% in the first quarter. Parallel Advisors LLC now owns 6,812 shares of the company’s stock worth $250,000 after purchasing an additional 4,062 shares during the period. NewEdge Advisors LLC grew its holdings in CareTrust REIT by 4.2% in the first quarter. NewEdge Advisors LLC now owns 37,572 shares of the company’s stock worth $1,377,000 after purchasing an additional 1,528 shares during the period. Finally, Cozad Asset Management Inc. grew its holdings in CareTrust REIT by 9.0% in the first quarter. Cozad Asset Management Inc. now owns 61,837 shares of the company’s stock worth $2,266,000 after purchasing an additional 5,098 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

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.