CareTrust REIT (NASDAQ:CTRE) Sets New 1-Year High at $24.65

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.65 and last traded at $24.65, with a volume of 185559 shares trading hands. The stock had previously closed at $24.31.

Wall Street Analyst Weigh In

CTRE has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, January 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price for the company. Finally, Royal Bank of Canada lowered their target price on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.57.

CareTrust REIT Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.67 and a current ratio of 8.67. The stock has a market cap of $3.33 billion, a PE ratio of 49.61 and a beta of 1.05. The stock’s 50-day moving average is $23.68 and its two-hundred day moving average is $22.68.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.71%. CareTrust REIT’s dividend payout ratio is 236.73%.

Institutional Investors Weigh In On CareTrust REIT

A number of hedge funds and other institutional investors have recently modified their holdings of CTRE. Global Retirement Partners LLC raised its stake in CareTrust REIT by 113.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 739 shares in the last quarter. ORG Partners LLC acquired a new stake in CareTrust REIT during the 3rd quarter worth $31,000. USA Financial Formulas acquired a new stake in CareTrust REIT during the 4th quarter worth $67,000. AlphaMark Advisors LLC raised its stake in CareTrust REIT by 245.2% during the 4th quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 2,575 shares in the last quarter. Finally, Ninepoint Partners LP acquired a new stake in CareTrust REIT during the 3rd quarter worth $113,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.