CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $39.00 Average PT from Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $39.00.

A number of analysts have recently weighed in on the stock. Citizens Jmp initiated coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price objective on the stock. Royal Bank Of Canada upped their price target on shares of CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Jefferies Financial Group lifted their price objective on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, December 15th. The Goldman Sachs Group set a $44.00 target price on CareTrust REIT in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company raised their target price on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th.

Hedge Funds Weigh In On CareTrust REIT

Large investors have recently made changes to their positions in the company. Empowered Funds LLC grew its position in CareTrust REIT by 24.9% during the fourth quarter. Empowered Funds LLC now owns 7,813 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 1,560 shares during the period. Renaissance Group LLC grew its position in shares of CareTrust REIT by 1.0% during the 4th quarter. Renaissance Group LLC now owns 245,779 shares of the real estate investment trust’s stock valued at $8,887,000 after acquiring an additional 2,365 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of CareTrust REIT by 8.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 121,524 shares of the real estate investment trust’s stock valued at $4,394,000 after purchasing an additional 9,266 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of CareTrust REIT by 77.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 71,569 shares of the real estate investment trust’s stock valued at $2,588,000 after purchasing an additional 31,244 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in CareTrust REIT by 10.7% in the 4th quarter. Metis Global Partners LLC now owns 52,817 shares of the real estate investment trust’s stock worth $1,910,000 after purchasing an additional 5,096 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Trading Up 1.5%

CareTrust REIT stock opened at $39.34 on Friday. The stock has a 50-day moving average price of $37.05 and a 200 day moving average price of $35.45. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 49.79, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. CareTrust REIT has a 52 week low of $24.79 and a 52 week high of $39.44. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.4%. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.