Analysts Set CareTrust REIT, Inc. (NASDAQ:CTRE) Target Price at $31.17

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $31.17.

Separately, Wells Fargo & Company increased their target price on CareTrust REIT from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, June 2nd.

CareTrust REIT Stock Down 0.1%

CTRE stock opened at $31.24 on Tuesday. CareTrust REIT has a fifty-two week low of $24.79 and a fifty-two week high of $33.15. The business’s 50-day moving average is $29.88 and its two-hundred day moving average is $28.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 39.54, a P/E/G ratio of 1.25 and a beta of 0.84.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT’s payout ratio is 145.65%.

Institutional Trading of CareTrust REIT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in CareTrust REIT by 21.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust’s stock worth $2,471,000 after buying an additional 15,523 shares in the last quarter. Principal Financial Group Inc. increased its position in CareTrust REIT by 3.0% in the first quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust’s stock worth $30,469,000 after buying an additional 31,279 shares in the last quarter. Corient Private Wealth LLC increased its position in CareTrust REIT by 9.2% in the fourth quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust’s stock worth $608,000 after buying an additional 1,903 shares in the last quarter. KBC Group NV grew its position in shares of CareTrust REIT by 33.6% during the first quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 1,875 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of CareTrust REIT by 8.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust’s stock worth $1,386,000 after purchasing an additional 3,626 shares in 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.