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

CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $31.00.

A number of brokerages have issued reports on CTRE. Wells Fargo & Company lowered their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Royal Bank of Canada reduced their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. BMO Capital Markets lowered shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush restated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research report on Thursday, March 13th.

Hedge Funds Weigh In On CareTrust REIT

A number of large investors have recently bought and sold shares of CTRE. Advantage Trust Co bought a new stake in CareTrust REIT in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc lifted its position in CareTrust REIT by 98.8% in the fourth 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. Blue Trust Inc. lifted its position in CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 603 shares during the last quarter. Quarry LP lifted its position in CareTrust REIT by 463.5% in the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,525 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in CareTrust REIT by 5,527.8% in the third 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 last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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CareTrust REIT Stock Down 1.0 %

Shares of CareTrust REIT stock traded down $0.29 during trading on Wednesday, reaching $28.70. 3,150,421 shares of the company traded hands, compared to its average volume of 1,618,896. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market capitalization of $5.39 billion, a PE ratio of 36.33, a P/E/G ratio of 1.25 and a beta of 1.11. The company has a 50 day moving average price of $26.66 and a 200-day moving average price of $28.64. CareTrust REIT has a 1-year low of $23.26 and a 1-year high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter in the prior year, the firm posted $0.25 earnings per share. As a group, equities research analysts expect that CareTrust REIT will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is 146.84%.

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.