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

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $23.86.

A number of analysts have recently issued reports on CTRE shares. Deutsche Bank Aktiengesellschaft started coverage on CareTrust REIT in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 price target for the company. Royal Bank of Canada dropped their price target on CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Finally, KeyCorp lifted their price target on CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th.

Hedge Funds Weigh In On CareTrust REIT

A number of large investors have recently bought and sold shares of the stock. ORG Partners LLC purchased a new position in shares of CareTrust REIT during the third quarter valued at approximately $31,000. Global Retirement Partners LLC increased its stake in shares of CareTrust REIT by 113.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 739 shares during the period. USA Financial Formulas purchased a new position in shares of CareTrust REIT during the fourth quarter valued at approximately $67,000. AlphaMark Advisors LLC increased its stake in shares of CareTrust REIT by 245.2% during the fourth quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 2,575 shares during the period. Finally, Covestor Ltd increased its stake in shares of CareTrust REIT by 114,366.7% during the first quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 6,862 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Trading Down 0.6 %

Shares of CTRE opened at $25.46 on Thursday. CareTrust REIT has a fifty-two week low of $18.18 and a fifty-two week high of $26.43. The business has a 50-day moving average of $24.33 and a 200 day moving average of $23.09. The company has a debt-to-equity ratio of 0.36, a quick ratio of 12.80 and a current ratio of 12.80. The firm has a market cap of $3.62 billion, a P/E ratio of 48.96 and a beta of 1.03.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.29 dividend. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend was Wednesday, March 27th. CareTrust REIT’s payout ratio is 223.08%.

About CareTrust REIT

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.