CareTrust REIT (NASDAQ:CTRE) Reaches New 52-Week High at $28.19

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) reached a new 52-week high on Monday . The stock traded as high as $28.19 and last traded at $28.17, with a volume of 103106 shares traded. The stock had previously closed at $27.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CTRE shares. Wedbush began coverage on shares of CareTrust REIT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. KeyCorp lifted their price target on shares of CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, Wells Fargo & Company increased their price target on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, CareTrust REIT presently has a consensus rating of “Hold” and a consensus price target of $25.50.

CareTrust REIT Trading Up 1.4 %

The firm’s 50-day simple moving average is $26.22 and its 200 day simple moving average is $24.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 12.80 and a quick ratio of 12.80. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 53.52 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). CareTrust REIT had a return on equity of 5.31% and a net margin of 30.09%. The business had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. During the same period last year, the firm posted $0.35 EPS. Equities analysts expect that CareTrust REIT, Inc. will post 1.47 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, June 28th. CareTrust REIT’s dividend payout ratio (DPR) is presently 223.08%.

Hedge Funds Weigh In On CareTrust REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $2,500,000. Mutual of America Capital Management LLC boosted its holdings in CareTrust REIT by 19.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 20,848 shares of the real estate investment trust’s stock valued at $467,000 after acquiring an additional 3,414 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in CareTrust REIT during the 4th quarter valued at approximately $1,334,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in CareTrust REIT by 23.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,586 shares of the real estate investment trust’s stock worth $3,079,000 after purchasing an additional 25,813 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of CareTrust REIT in the 4th quarter worth approximately $275,000. Institutional investors 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.