CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $37.89 Average Price Target from Brokerages

CareTrust REIT, Inc. (NASDAQ:CTRE) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $37.8889.

A number of research firms recently commented on CTRE. Wells Fargo & Company increased their price target on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada upped their target price on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. UBS Group increased their target price on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Jefferies Financial Group boosted their price target on shares of CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, KeyCorp upped their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th.

CareTrust REIT Stock Up 0.7%

CTRE stock opened at $37.74 on Tuesday. CareTrust REIT has a twelve month low of $24.79 and a twelve month high of $38.32. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $36.85 and its 200-day moving average is $34.70. The firm has a market capitalization of $8.43 billion, a PE ratio of 47.77, a P/E/G ratio of 1.25 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 annualized dividend and a dividend yield of 3.6%. CareTrust REIT’s dividend payout ratio is currently 100.00%.

Institutional Trading of CareTrust REIT

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its stake in CareTrust REIT by 109.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 575 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 644 shares during the period. Heritage Wealth Advisors boosted its holdings in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 300 shares during the last quarter. Allworth Financial LP grew its position in CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 555 shares during the period. Finally, Farther Finance Advisors LLC grew its position in CareTrust REIT by 75.1% during the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 640 shares during the period. 87.77% of the stock is currently owned by institutional investors.

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.