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

CareTrust REIT, Inc. (NASDAQ:CTRE) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.67.

A number of research analysts recently issued reports on the company. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. Royal Bank of Canada lifted their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, KeyCorp lifted their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT during the second quarter worth $27,000. Blue Trust Inc. increased its holdings in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 772 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of CareTrust REIT in the 2nd quarter valued at approximately $34,000. Quest Partners LLC acquired a new stake in CareTrust REIT in the 2nd quarter worth approximately $40,000. Finally, GAMMA Investing LLC boosted its position in CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares during the period. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.5 %

CareTrust REIT stock opened at $28.81 on Monday. CareTrust REIT has a 12-month low of $20.10 and a 12-month high of $33.15. The stock has a market capitalization of $4.94 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07. The firm has a 50 day simple moving average of $30.34 and a 200-day simple moving average of $28.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The firm had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, equities research analysts expect that CareTrust REIT will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.03%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio is 161.11%.

CareTrust REIT Company Profile

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.