CareTrust REIT (NASDAQ:CTRE) Research Coverage Started at Citizens Jmp

Citizens Jmp started coverage on shares of CareTrust REIT (NASDAQ:CTRE) in a research report sent to investors on Thursday, MarketBeat reports. The firm issued a market outperform rating and a $44.00 price target on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group increased their price target on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. The Goldman Sachs Group set a $44.00 target price on CareTrust REIT in a research note on Thursday. Cantor Fitzgerald started coverage on CareTrust REIT in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price target on the stock. Wells Fargo & Company lifted their price target on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Finally, UBS Group upped their price objective on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CareTrust REIT presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE opened at $36.78 on Thursday. The company has a 50-day simple moving average of $36.92 and a 200-day simple moving average of $34.84. 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 company has a market cap of $8.21 billion, a PE ratio of 46.56, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. CareTrust REIT has a 12 month low of $24.79 and a 12 month high of $38.32.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is 100.00%.

Institutional Investors Weigh In On CareTrust REIT

Several institutional investors have recently bought and sold shares of CTRE. Heritage Wealth Advisors raised its stake in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 300 shares during the period. Allworth Financial LP increased its holdings in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 555 shares in the last quarter. Parallel Advisors LLC raised its position in CareTrust REIT by 109.5% in the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 575 shares during the period. EverSource Wealth Advisors LLC raised its position in CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 644 shares during the period. Finally, Groesbeck Investment Management Corp NJ acquired a new position in shares of CareTrust REIT during the fourth quarter worth about $43,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

About CareTrust REIT

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.