CareTrust REIT, Inc. (NYSE:CTRE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $44.8182.

CTRE has been the subject of a number of research analyst reports. Mizuho set a $45.00 price target on CareTrust REIT in a report on Friday, May 22nd. Weiss Ratings lowered CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 11th. KeyCorp reiterated an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. Raymond James Financial started coverage on CareTrust REIT in a research note on Tuesday, June 16th. They set an “outperform” rating and a $43.00 target price for the company. Finally, Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th.

CareTrust REIT Price Performance

CTRE traded up $0.79 during trading on Tuesday, hitting $42.18. 165,334 shares of the stock traded hands, compared to its average volume of 2,656,725. The business has a 50 day moving average price of $39.61 and a 200 day moving average price of $38.72. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.88 and a beta of 0.76. CareTrust REIT has a twelve month low of $30.21 and a twelve month high of $43.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37.

CareTrust REIT Dividend Announcement

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

Institutional Trading of CareTrust REIT

Hedge funds have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. acquired a new position in CareTrust REIT during the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC lifted its holdings in CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after buying an additional 728 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after acquiring an additional 644 shares in the last quarter. Allworth Financial LP boosted its position in shares of CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. acquired a new position in CareTrust REIT in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.