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

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned a consensus rating of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $30.83.

A number of equities research analysts have recently commented on the stock. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. Royal Bank of Canada reduced their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP raised its holdings in CareTrust REIT by 2.3% during the fourth quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 385 shares during the last quarter. Signaturefd LLC raised its holdings in CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 443 shares during the last quarter. CWM LLC raised its holdings in CareTrust REIT by 16.8% during the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 467 shares during the last quarter. WealthShield Partners LLC raised its holdings in CareTrust REIT by 1.0% during the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after buying an additional 490 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in CareTrust REIT by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 534 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Trading Down 2.8 %

NASDAQ:CTRE opened at $24.90 on Friday. The firm’s fifty day moving average is $26.73 and its 200-day moving average is $28.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT has a 52 week low of $22.46 and a 52 week high of $33.15. The firm has a market cap of $4.67 billion, a P/E ratio of 31.51, a P/E/G ratio of 1.26 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the prior year, the business earned $0.25 earnings per share. Equities analysts expect that CareTrust REIT will post 1.71 earnings per share for the current year.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 146.84%.

About CareTrust REIT

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.