CareTrust REIT (NASDAQ:CTRE) Earns Underperform Rating from Wedbush

Wedbush reissued their underperform rating on shares of CareTrust REIT (NASDAQ:CTRE - Free Report) in a research note issued to investors on Friday,Benzinga reports. They currently have a $26.00 price target on the real estate investment trust's stock. Wedbush also issued estimates for CareTrust REIT's Q1 2025 earnings at $0.42 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.42 EPS, Q4 2025 earnings at $0.43 EPS, FY2025 earnings at $1.69 EPS, Q1 2026 earnings at $0.45 EPS, Q2 2026 earnings at $0.48 EPS, Q3 2026 earnings at $0.50 EPS and Q4 2026 earnings at $0.53 EPS.

A number of other equities research analysts have also recently commented on CTRE. Royal Bank of Canada decreased their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. BMO Capital Markets cut 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 report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company reduced their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

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CareTrust REIT Stock Performance

NASDAQ CTRE traded up $0.08 on Friday, hitting $28.89. 2,206,602 shares of the company traded hands, compared to its average volume of 1,617,200. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The business's 50 day moving average price is $26.47 and its 200-day moving average price is $28.65. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 36.57, a P/E/G ratio of 1.25 and a beta of 1.11. CareTrust REIT has a 52-week low of $23.26 and a 52-week 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 net margin of 42.22% and a return on equity of 5.59%. During the same period in the prior year, the firm earned $0.25 EPS. Equities analysts expect that CareTrust REIT will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.64%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is 146.84%.

Institutional Investors Weigh In On CareTrust REIT

Several large investors have recently made changes to their positions in CTRE. Vanguard Group Inc. increased its stake in CareTrust REIT by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock worth $738,482,000 after acquiring an additional 4,263,097 shares during the last quarter. Wellington Management Group LLP increased its stake in CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust's stock worth $394,948,000 after acquiring an additional 670,348 shares during the last quarter. State Street Corp increased its stake in CareTrust REIT by 6.7% during the third quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust's stock worth $259,255,000 after acquiring an additional 520,783 shares during the last quarter. FMR LLC increased its stake in CareTrust REIT by 51.8% during the fourth quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock worth $214,586,000 after acquiring an additional 2,708,050 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after acquiring an additional 5,448,904 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

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.