CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $23.57 Consensus Price Target from Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $23.57.

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on CareTrust REIT in a research note on Tuesday, January 30th. They set a “hold” rating and a $23.00 price objective for the company. Royal Bank of Canada lowered their target price on CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Finally, KeyCorp upped their price objective on CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, January 5th.

CareTrust REIT Stock Performance

Shares of CTRE opened at $24.72 on Friday. The stock has a 50-day moving average of $23.75 and a two-hundred day moving average of $22.72. CareTrust REIT has a one year low of $18.18 and a one year high of $24.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.67 and a current ratio of 8.67. The stock has a market cap of $3.34 billion, a P/E ratio of 50.45 and a beta of 1.05.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.29 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.16 annualized dividend and a dividend yield of 4.69%. CareTrust REIT’s dividend payout ratio is 236.73%.

Institutional Investors Weigh In On CareTrust REIT

Several hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its position in CareTrust REIT by 3.1% in the fourth quarter. Mackenzie Financial Corp now owns 16,317 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 484 shares during the period. Van ECK Associates Corp increased its holdings in CareTrust REIT by 4.3% in the third quarter. Van ECK Associates Corp now owns 11,730 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 486 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of CareTrust REIT by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 65,569 shares of the real estate investment trust’s stock worth $1,467,000 after purchasing an additional 516 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of CareTrust REIT by 5.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 624 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in CareTrust REIT by 2.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 31,537 shares of the real estate investment trust’s stock worth $647,000 after acquiring an additional 668 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.