Brokerages Set CareTrust REIT, Inc. (NASDAQ:CTRE) PT at $30.67

CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) has received an average rating of "Hold" from the six analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $30.67.

CTRE has been the topic of a number of recent research reports. KeyCorp upped their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets lowered shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wedbush downgraded CareTrust REIT from a "neutral" rating to an "underperform" rating and cut their price target for the company from $34.00 to $26.00 in a report on Thursday.

Hedge Funds Weigh In On CareTrust REIT

A number of large investors have recently bought and sold shares of CTRE. CWM LLC grew its stake in shares of CareTrust REIT by 16.8% in the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust's stock valued at $100,000 after buying an additional 467 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in CareTrust REIT by 3.2% in the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock worth $528,000 after acquiring an additional 533 shares during the period. United Services Automobile Association grew its position in CareTrust REIT by 5.0% in the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust's stock valued at $282,000 after acquiring an additional 540 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in CareTrust REIT by 0.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust's stock valued at $4,678,000 after acquiring an additional 544 shares in the last quarter. Finally, Pitcairn Co. raised its stake in shares of CareTrust REIT by 5.3% during the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust's stock valued at $415,000 after purchasing an additional 671 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of CTRE traded up $0.22 during mid-day trading on Friday, reaching $26.74. 1,638,227 shares of the company's stock were exchanged, compared to its average volume of 1,740,014. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. CareTrust REIT has a 52-week low of $20.10 and a 52-week high of $33.15. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 1.59 and a beta of 1.08. The company has a 50-day simple moving average of $29.37 and a two-hundred day simple moving average of $28.75.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its quarterly earnings results 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). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The company had revenue of $77.38 million for the quarter, compared to analysts' expectations of $74.12 million. During the same period in the previous year, the business posted $0.35 EPS. On average, sell-side analysts predict that CareTrust REIT will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.34%. CareTrust REIT's payout ratio is 161.11%.

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.