CareTrust REIT (NASDAQ:CTRE) Reaches New 1-Year High at $30.02

CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $30.02 and last traded at $29.98, with a volume of 254299 shares changing hands. The stock had previously closed at $29.50.

Analyst Upgrades and Downgrades

Several analysts recently commented on CTRE shares. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $24.00 to $26.00 and gave the stock an "equal weight" rating in a report on Thursday, May 30th. Wedbush began coverage on shares of CareTrust REIT in a research note on Wednesday, May 29th. They issued a "neutral" rating and a $26.00 price target on the stock. KeyCorp lifted their price objective on CareTrust REIT from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Thursday, May 9th. Royal Bank of Canada upped their target price on CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on CareTrust REIT from $23.00 to $27.00 and gave the company a "hold" rating in a report on Monday, July 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, CareTrust REIT presently has a consensus rating of "Hold" and an average price target of $26.67.

CareTrust REIT Stock Up 1.0 %

The company has a market cap of $4.23 billion, a price-to-earnings ratio of 57.31 and a beta of 1.09. The business has a 50-day simple moving average of $27.32 and a two-hundred day simple moving average of $25.40. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.29). CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. The company had revenue of $68.89 million during the quarter, compared to analyst estimates of $66.36 million. During the same quarter last year, the firm posted $0.35 earnings per share. As a group, equities analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a yield of 3.89%. CareTrust REIT's payout ratio is presently 223.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC acquired a new position in shares of CareTrust REIT during the second quarter worth approximately $34,000. Quest Partners LLC bought a new position in CareTrust REIT during the second quarter worth $40,000. GAMMA Investing LLC raised its stake 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 during the last quarter. USA Financial Formulas bought a new stake in CareTrust REIT in the 4th quarter valued at $67,000. Finally, Quarry LP boosted its holdings in CareTrust REIT by 536.6% in the 2nd quarter. Quarry LP now owns 3,100 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 2,613 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.