CareTrust REIT, Inc. (NASDAQ:CTRE) Given Consensus Rating of “Hold” by Analysts

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.67.

Several analysts have issued reports on CTRE shares. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $34.00 to $32.00 in a report on Monday, December 9th. KeyCorp boosted their target price on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $26.00 in a research note on Thursday.

CareTrust REIT Trading Down 2.0 %

NASDAQ CTRE opened at $26.52 on Friday. CareTrust REIT has a one year low of $20.10 and a one year high of $33.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The firm has a market cap of $4.55 billion, a P/E ratio of 36.83, a P/E/G ratio of 1.59 and a beta of 1.08. The stock’s 50-day moving average is $29.46 and its 200-day moving average is $28.74.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The company had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same quarter last year, the business posted $0.35 earnings per share. Sell-side analysts anticipate that CareTrust REIT will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.37%. CareTrust REIT’s dividend payout ratio is 161.11%.

Hedge Funds Weigh In On CareTrust REIT

A number of institutional investors have recently added to or reduced their stakes in CTRE. JPMorgan Chase & Co. lifted its stake in CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after acquiring an additional 5,448,904 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of CareTrust REIT by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after purchasing an additional 41,623 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in CareTrust REIT in the 3rd quarter valued at about $985,000. Franklin Resources Inc. grew its holdings in CareTrust REIT by 2.3% during the third quarter. Franklin Resources Inc. now owns 58,065 shares of the real estate investment trust’s stock worth $1,754,000 after purchasing an additional 1,318 shares during the period. Finally, Tidal Investments LLC acquired a new position in CareTrust REIT during the third quarter worth approximately $576,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.