CareTrust REIT, Inc. (NASDAQ:CTRE) Given Consensus Rating of "Moderate Buy" by Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $30.67.

Several research firms have commented on CTRE. KeyCorp lifted their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock 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 reduced their price objective for the stock from $34.00 to $32.00 in a research report on Monday. Finally, Royal Bank of Canada boosted their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd.

Institutional Investors Weigh In On CareTrust REIT

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 1,143 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of CareTrust REIT in the second quarter valued at about $212,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in CareTrust REIT by 6.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 157,148 shares of the real estate investment trust's stock worth $3,944,000 after acquiring an additional 10,212 shares during the period. Nisa Investment Advisors LLC grew its holdings in CareTrust REIT by 11.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 48,425 shares of the real estate investment trust's stock worth $1,228,000 after acquiring an additional 4,833 shares in the last quarter. Finally, Milestone Asset Management LLC raised its holdings in shares of CareTrust REIT by 155.2% in the 2nd quarter. Milestone Asset Management LLC now owns 27,813 shares of the real estate investment trust's stock valued at $698,000 after purchasing an additional 16,915 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Trading Down 1.8 %

CTRE traded down $0.53 on Monday, hitting $28.81. The company had a trading volume of 2,396,361 shares, compared to its average volume of 1,561,380. The business's fifty day simple moving average is $30.53 and its 200 day simple moving average is $28.49. 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 12-month low of $20.10 and a 12-month high of $33.15. The company has a market cap of $4.94 billion, a PE ratio of 40.75 and a beta of 1.08.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million during the quarter, compared to analysts' expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter last year, the firm posted $0.35 EPS. Equities research analysts expect that CareTrust REIT will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.03%. 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.