Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have earned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $24.40.
A number of research firms have weighed in on CTRE. Zacks Investment Research downgraded CareTrust REIT from a “hold” rating to a “sell” rating in a report on Wednesday, September 8th. Royal Bank of Canada cut shares of CareTrust REIT from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 11th.
Shares of NASDAQ:CTRE traded up $0.10 during midday trading on Thursday, hitting $21.45. The company’s stock had a trading volume of 615,672 shares, compared to its average volume of 581,115. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 24.40 and a beta of 1.08. The stock’s 50 day simple moving average is $22.58 and its 200 day simple moving average is $23.23. CareTrust REIT has a fifty-two week low of $16.61 and a fifty-two week high of $24.89. The company has a debt-to-equity ratio of 1.01, a quick ratio of 18.61 and a current ratio of 18.61.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Wednesday, September 29th. CareTrust REIT’s dividend payout ratio (DPR) is 76.81%.
Several hedge funds have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in CareTrust REIT by 100.7% in the 2nd quarter. Invesco Ltd. now owns 1,226,341 shares of the real estate investment trust’s stock worth $28,488,000 after purchasing an additional 615,264 shares during the period. Goldman Sachs Group Inc. boosted its stake in CareTrust REIT by 41.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,786,570 shares of the real estate investment trust’s stock worth $41,600,000 after purchasing an additional 522,919 shares during the period. Bank of Montreal Can boosted its stake in CareTrust REIT by 156.1% in the 2nd quarter. Bank of Montreal Can now owns 782,937 shares of the real estate investment trust’s stock worth $18,282,000 after purchasing an additional 477,272 shares during the period. JPMorgan Chase & Co. boosted its stake in CareTrust REIT by 83.3% in the 1st quarter. JPMorgan Chase & Co. now owns 912,257 shares of the real estate investment trust’s stock worth $21,242,000 after purchasing an additional 414,578 shares during the period. Finally, Guggenheim Capital LLC acquired a new position in CareTrust REIT in the 1st quarter worth $8,041,000. 85.16% of the stock is owned by institutional investors.
About CareTrust REIT
CareTrust REIT, Inc operates as real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It offers independent living, memory care, and assisted, and skilled nursing facilities. The company was founded on October 29, 2013 and is headquartered in San Clemente, CA.
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