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

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.67.

CTRE has been the topic of several research reports. Wells Fargo & Company increased their target price on CareTrust REIT from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 30th. Royal Bank of Canada increased 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. KeyCorp increased their target price on CareTrust REIT from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their price objective on CareTrust REIT from $23.00 to $27.00 and gave the company a "hold" rating in a research report on Monday, July 1st. Finally, Wedbush initiated coverage on CareTrust REIT in a research report on Wednesday, May 29th. They issued a "neutral" rating and a $26.00 price objective on the stock.

CareTrust REIT Trading Up 0.7 %

Shares of CareTrust REIT stock traded up $0.21 during trading hours on Friday, reaching $29.88. 1,588,849 shares of the company's stock were exchanged, compared to its average volume of 1,374,076. CareTrust REIT has a 52-week low of $19.67 and a 52-week high of $30.02. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 57.46 and a beta of 1.09. The company has a fifty day moving average of $27.03 and a 200-day moving average of $25.25. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 0.36.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued 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). The firm had revenue of $68.89 million during the quarter, compared to analysts' expectations of $66.36 million. CareTrust REIT had a return on equity of 5.31% and a net margin of 30.09%. During the same period last year, the business posted $0.35 earnings per share. Sell-side analysts forecast that CareTrust REIT will post 1.47 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.88%. The ex-dividend date was Friday, June 28th. CareTrust REIT's dividend payout ratio (DPR) is presently 223.08%.

Institutional Trading of CareTrust REIT

Several large investors have recently modified their holdings of CTRE. Vanguard Group Inc. grew its stake in shares of CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust's stock valued at $493,925,000 after acquiring an additional 2,376,832 shares in the last quarter. Zimmer Partners LP acquired a new position in CareTrust REIT in the first quarter worth about $41,763,000. GRS Advisors LLC acquired a new position in CareTrust REIT in the fourth quarter worth about $31,656,000. Norges Bank acquired a new position in CareTrust REIT in the fourth quarter worth about $18,640,000. Finally, Hazelview Securities Inc. acquired a new position in CareTrust REIT in the first quarter worth about $20,047,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.