CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $30.67 Average Price Target from Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) has earned a consensus rating of "Hold" from the six ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $30.67.

Several brokerages have commented on CTRE. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush cut CareTrust REIT from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. Finally, KeyCorp boosted their price objective on CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th.

CareTrust REIT Trading Down 0.5 %

NASDAQ CTRE traded down $0.12 on Tuesday, reaching $26.38. The stock had a trading volume of 437,702 shares, compared to its average volume of 1,446,531. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $27.77 and a two-hundred day moving average price of $28.94. CareTrust REIT has a 12-month low of $20.10 and a 12-month high of $33.15. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 36.66, a P/E/G ratio of 1.24 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The business had revenue of $77.38 million for the quarter, compared to analysts' expectations of $74.12 million. During the same quarter last year, the company earned $0.35 earnings per share. As a group, sell-side analysts forecast that CareTrust REIT will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT's dividend payout ratio (DPR) is 161.11%.

Institutional Trading of CareTrust REIT

Several institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in CareTrust REIT during the 2nd quarter worth $27,000. Blue Trust Inc. increased its position 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 purchasing an additional 772 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 743 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of CareTrust REIT by 5,527.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 1,990 shares during the period. Finally, Signaturefd LLC grew its stake in CareTrust REIT by 55.0% during the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust's stock worth $67,000 after buying an additional 775 shares during the last quarter. Hedge funds and other 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.