CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $31.00.

CTRE has been the subject of several research reports. BMO Capital Markets lifted their price objective on CareTrust REIT from $33.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Royal Bank of Canada lifted their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, August 22nd. KeyCorp increased their price target on CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Finally, Wells Fargo & Company raised CareTrust REIT from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st.

CareTrust REIT Stock Down 1.4 %

Shares of CareTrust REIT stock traded down $0.44 during trading on Thursday, hitting $29.93. 1,592,180 shares of the stock were exchanged, compared to its average volume of 1,546,310. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 41.57 and a beta of 1.09. The firm's 50-day moving average price is $30.74 and its 200 day moving average price is $27.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. CareTrust REIT has a 12-month low of $20.10 and a 12-month high of $33.15.

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 EPS 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 firm had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same period last year, the firm earned $0.35 EPS. As a group, analysts forecast that CareTrust REIT will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.88%. CareTrust REIT's payout ratio is 161.11%.

Insider Activity at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the sale, the chief financial officer now directly owns 257,439 shares of the company's stock, valued at $7,671,682.20. This trade represents a 11.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CTRE. Newbridge Financial Services Group Inc. acquired a new stake in CareTrust REIT during the 2nd quarter valued at $27,000. Rothschild Investment LLC bought a new stake in CareTrust REIT during the second quarter worth $34,000. Blue Trust Inc. grew its stake in shares of CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock worth $37,000 after buying an additional 772 shares during the last quarter. Quest Partners LLC bought a new stake in shares of CareTrust REIT in the second quarter worth $40,000. Finally, GAMMA Investing LLC lifted its position in shares of CareTrust REIT by 187.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 1,143 shares during the period. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Company Profile

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.