CareTrust REIT, Inc. (NYSE:CTRE) Receives $44.82 Consensus Price Target from Brokerages

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have been given a consensus rating of “Buy” by the thirteen ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $44.8182.

A number of equities research analysts have weighed in on the company. KeyCorp restated an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. BMO Capital Markets lifted their price target on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Zacks Research raised CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Mizuho set a $45.00 target price on CareTrust REIT in a research note on Friday, May 22nd. Finally, Weiss Ratings raised CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday.

CareTrust REIT Trading Up 0.2%

CareTrust REIT stock opened at $41.22 on Friday. The firm has a 50 day simple moving average of $40.11 and a 200-day simple moving average of $39.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock has a market capitalization of $9.74 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.85 and a beta of 0.75. CareTrust REIT has a 12-month low of $32.25 and a 12-month high of $43.62.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 annualized dividend and a dividend yield of 3.8%. CareTrust REIT’s payout ratio is currently 100.00%.

Institutional Trading of CareTrust REIT

A number of large investors have recently added to or reduced their stakes in CTRE. D.A. Davidson & CO. lifted its stake in shares of CareTrust REIT by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock valued at $1,475,000 after purchasing an additional 282 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in CareTrust REIT by 2.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock worth $373,000 after purchasing an additional 291 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of CareTrust REIT by 1.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock worth $1,015,000 after buying an additional 297 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in CareTrust REIT by 2.8% during the third quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock worth $378,000 after acquiring an additional 300 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of CareTrust REIT by 25.3% during the 4th quarter. UMB Bank n.a. now owns 1,525 shares of the company’s stock worth $55,000 after purchasing an additional 308 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

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.