CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $31.00.

CTRE has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Thursday, March 13th. 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. Wedbush reiterated an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Royal Bank of Canada decreased their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $28.89 on Wednesday. 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 fifty-two week low of $23.26 and a fifty-two week high of $33.15. The stock has a 50 day moving average price of $26.52 and a two-hundred day moving average price of $28.65. The company has a market capitalization of $5.42 billion, a P/E ratio of 36.57, a PEG ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results 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 period in the prior year, the company posted $0.25 EPS. Analysts expect that CareTrust REIT will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.335 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.64%. CareTrust REIT’s dividend payout ratio (DPR) is 146.84%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Advantage Trust Co purchased a new position in CareTrust REIT in the fourth quarter worth about $30,000. Versant Capital Management Inc raised its holdings in shares of CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 743 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares in the last quarter. Quarry LP raised its holdings in shares of CareTrust REIT by 463.5% during the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,525 shares in the last quarter. Finally, Glen Eagle Advisors LLC purchased a new stake in CareTrust REIT during the 4th quarter valued at $56,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.