CareTrust REIT, Inc. (NYSE:CTRE) Given Average Recommendation of “Buy” by Analysts

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have been assigned an average rating of “Buy” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $44.8182.

A number of analysts recently weighed in on CTRE shares. Raymond James Financial started coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price objective on the stock. Weiss Ratings raised shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, July 6th. KeyCorp restated an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, BMO Capital Markets lifted their price target on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, June 15th.

CareTrust REIT Price Performance

Shares of NYSE CTRE opened at $40.35 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The firm has a market capitalization of $9.53 billion, a PE ratio of 25.86, a P/E/G ratio of 1.81 and a beta of 0.76. CareTrust REIT has a 1-year low of $30.21 and a 1-year high of $43.08. The business’s fifty day moving average price is $39.80 and its two-hundred day moving average price is $38.88.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.9%. CareTrust REIT’s payout ratio is presently 100.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of CareTrust REIT by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock valued at $1,199,940,000 after purchasing an additional 210,965 shares in the last quarter. State Street Corp grew its position in CareTrust REIT by 1.8% in the 4th quarter. State Street Corp now owns 12,426,213 shares of the company’s stock valued at $453,411,000 after buying an additional 219,641 shares in the last quarter. Wellington Management Group LLP increased its stake in CareTrust REIT by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock valued at $446,792,000 after buying an additional 1,893,143 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in CareTrust REIT by 108.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after buying an additional 3,379,732 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of CareTrust REIT by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock worth $220,332,000 after buying an additional 409,411 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.