CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $40.18 Average PT from Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $40.1818.

A number of analysts recently commented on CTRE shares. Royal Bank Of Canada boosted their price objective on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. UBS Group increased their target price on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Wells Fargo & Company boosted their price target on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Citizens Jmp began coverage on CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target on the stock. Finally, The Goldman Sachs Group set a $44.00 price target on CareTrust REIT in a report on Thursday, January 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTRE. Vanguard Group Inc. boosted its position in shares of CareTrust REIT by 14.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,973,216 shares of the real estate investment trust’s stock worth $1,143,511,000 after buying an additional 4,067,975 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in CareTrust REIT by 108.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the real estate investment trust’s stock valued at $234,820,000 after acquiring an additional 3,379,732 shares during the last quarter. Norges Bank purchased a new position in CareTrust REIT during the 4th quarter valued at about $114,810,000. Invesco Ltd. raised its position in CareTrust REIT by 201.8% during the second quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock worth $115,434,000 after acquiring an additional 2,522,260 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its position in CareTrust REIT by 713.4% during the third quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the real estate investment trust’s stock worth $59,321,000 after acquiring an additional 1,989,394 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $39.89 on Wednesday. The firm’s fifty day simple moving average is $38.24 and its 200-day simple moving average is $36.37. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.90 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. CareTrust REIT has a fifty-two week low of $25.50 and a fifty-two week high of $41.72.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 annualized dividend and a yield of 3.4%. CareTrust REIT’s dividend payout ratio is 86.45%.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.