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

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $44.8182.

CTRE has been the subject of a number of research analyst reports. BMO Capital Markets boosted their price objective on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. KeyCorp reissued an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. Mizuho set a $45.00 price target on CareTrust REIT in a research note on Friday, May 22nd. Finally, Raymond James Financial initiated coverage on CareTrust REIT in a report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price objective on the stock.

Hedge Funds Weigh In On CareTrust REIT

A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in shares of CareTrust REIT by 7.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company’s stock worth $48,044,000 after purchasing an additional 93,101 shares during the period. Sound Income Strategies LLC grew its stake in CareTrust REIT by 6.4% during the fourth quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock worth $23,477,000 after buying an additional 37,503 shares in the last quarter. Mirabella Financial Services LLP grew its stake in CareTrust REIT by 119.3% during the third quarter. Mirabella Financial Services LLP now owns 75,297 shares of the company’s stock worth $2,606,000 after buying an additional 40,962 shares in the last quarter. B&I Capital AG bought a new position in CareTrust REIT in the 4th quarter valued at about $10,989,000. Finally, M&T Bank Corp bought a new position in CareTrust REIT in the 4th quarter valued at about $894,000. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

CTRE traded up $0.79 on Tuesday, reaching $42.18. The company had a trading volume of 165,334 shares, compared to its average volume of 2,656,725. The stock has a market cap of $9.96 billion, a P/E ratio of 27.02, a P/E/G ratio of 1.88 and a beta of 0.76. 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 fifty-two week low of $30.21 and a fifty-two week high of $43.08. The company’s fifty day moving average is $39.61 and its 200 day moving average is $38.72.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. CareTrust REIT’s payout ratio is presently 100.00%.

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.