CareTrust REIT, Inc. (NASDAQ:CTRE) Given Consensus Recommendation of “Moderate Buy” by Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $40.1818.

A number of research firms have issued reports on CTRE. Wells Fargo & Company raised their target price on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Cantor Fitzgerald upped their target price on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada boosted their price target on CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. UBS Group increased their price target on CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, Citizens Jmp assumed coverage on CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price target on the stock.

CareTrust REIT Stock Up 0.2%

CTRE stock opened at $39.96 on Wednesday. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 50.58, a PEG ratio of 1.25 and a beta of 0.74. CareTrust REIT has a 1-year low of $25.67 and a 1-year high of $41.72. The firm has a fifty day moving average price of $38.36 and a two-hundred day moving average price of $36.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders 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 dividend yield of 3.4%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s payout ratio is 86.45%.

Institutional Investors Weigh In On CareTrust REIT

A number of institutional investors and hedge funds have recently bought and sold shares of CTRE. Kemnay Advisory Services Inc. acquired a new position in shares of CareTrust REIT in the 4th quarter valued at $27,000. Transamerica Financial Advisors LLC increased its position in shares of CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 728 shares in the last quarter. Heritage Wealth Advisors raised its holdings in shares of CareTrust REIT by 42.9% during the third 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 lifted its position in shares of 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 acquiring an additional 555 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of CareTrust REIT in the 4th quarter valued at approximately $40,000. 87.77% of the stock is owned by institutional investors and hedge funds.

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.