Analysts Set CareTrust REIT, Inc. (NASDAQ:CTRE) Target Price at $33.88

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $33.8750.

Several research firms have recently commented on CTRE. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CareTrust REIT in a research note on Monday, August 11th. Cantor Fitzgerald assumed coverage on CareTrust REIT in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Wells Fargo & Company increased their target price on CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. KeyCorp boosted their price target on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a “strong-buy” rating in a research note on Tuesday, September 2nd.

CareTrust REIT Stock Down 0.5%

NASDAQ CTRE opened at $33.83 on Friday. The stock’s 50-day moving average price is $34.04 and its 200-day moving average price is $30.94. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT has a 52 week low of $24.79 and a 52 week high of $35.68. The company has a market capitalization of $7.38 billion, a P/E ratio of 42.82, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is 111.67%.

Institutional Investors Weigh In On CareTrust REIT

A number of institutional investors have recently added to or reduced their stakes in CTRE. Wealth Enhancement Advisory Services LLC purchased a new stake in CareTrust REIT during the 4th quarter valued at approximately $204,000. GAMMA Investing LLC grew its holdings in CareTrust REIT by 2,116.7% during the 1st quarter. GAMMA Investing LLC now owns 89,398 shares of the real estate investment trust’s stock valued at $2,555,000 after buying an additional 85,365 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in CareTrust REIT by 194.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 41,606 shares of the real estate investment trust’s stock valued at $1,189,000 after buying an additional 27,466 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in CareTrust REIT by 10.9% during the 1st quarter. Handelsbanken Fonder AB now owns 48,646 shares of the real estate investment trust’s stock valued at $1,390,000 after buying an additional 4,800 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in CareTrust REIT by 217.5% during the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,355 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.