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

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $30.67.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of CareTrust REIT by 5.5% in the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after buying an additional 670,348 shares in the last quarter. State Street Corp lifted its position in shares of CareTrust REIT by 6.7% during the third quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after purchasing an additional 520,783 shares in the last quarter. FMR LLC lifted its position in shares of CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CareTrust REIT by 7.4% during the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock valued at $115,209,000 after purchasing an additional 258,271 shares in the last quarter. Finally, Zimmer Partners LP lifted its position in shares of CareTrust REIT by 6.0% during the third quarter. Zimmer Partners LP now owns 3,449,615 shares of the real estate investment trust’s stock valued at $106,455,000 after purchasing an additional 194,028 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Trading Up 0.5 %

CTRE opened at $28.81 on Monday. CareTrust REIT has a twelve month low of $20.10 and a twelve month high of $33.15. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $30.34 and a 200-day moving average of $28.61. The stock has a market cap 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.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). The firm had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter last year, the company earned $0.35 earnings per share. On average, sell-side analysts predict that CareTrust REIT will post 1.5 EPS for the current year.

About CareTrust REIT

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.