CareTrust REIT (NYSE:CTRE) Reaches New 12-Month High – Should You Buy?

Shares of CareTrust REIT, Inc. (NYSE:CTRE) hit a new 52-week high on Wednesday . The company traded as high as $43.62 and last traded at $42.7470, with a volume of 1713414 shares changing hands. The stock had previously closed at $42.96.

Analyst Ratings Changes

CTRE has been the subject of several analyst reports. Weiss Ratings lowered CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research note on Friday, May 22nd. Finally, KeyCorp reaffirmed an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Stock Down 0.5%

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 business has a 50 day moving average price of $40.09 and a 200 day moving average price of $39.31. The firm has a market capitalization of $10.10 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 1.93 and a beta of 0.76.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 3.6%. CareTrust REIT’s dividend payout ratio (DPR) is 100.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTRE. Principal Financial Group Inc. grew its holdings in shares of CareTrust REIT by 7.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company’s stock worth $48,044,000 after purchasing an additional 93,101 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of CareTrust REIT by 6.4% in the fourth quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock valued at $23,477,000 after purchasing an additional 37,503 shares in the last quarter. B&I Capital AG acquired a new position in shares of CareTrust REIT in the fourth quarter valued at $10,989,000. M&T Bank Corp bought a new position in CareTrust REIT in the fourth quarter worth $894,000. Finally, Vanderbilt University bought a new position in CareTrust REIT in the fourth quarter worth $1,125,000. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Company Profile

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.