CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Average Recommendation of “Hold” from Brokerages

CareTrust REIT, Inc. (NASDAQ:CTRE) has received a consensus rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat.com reports. One research 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 analysts that have covered the stock in the last year is $30.67.

A number of analysts recently commented on the company. Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $34.00 to $32.00 in a report on Monday, December 9th. KeyCorp upped their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st.

Hedge Funds Weigh In On CareTrust REIT

A number of hedge funds have recently made changes to their positions in CTRE. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth $27,000. Rothschild Investment LLC purchased a new stake in CareTrust REIT during the second quarter valued at about $34,000. Blue Trust Inc. increased its stake in CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 772 shares during the last quarter. Quest Partners LLC purchased a new position in shares of CareTrust REIT in the 2nd quarter worth about $40,000. Finally, Versant Capital Management Inc lifted its stake in shares of CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 743 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE opened at $26.93 on Friday. The company has a 50-day moving average of $29.05 and a two-hundred day moving average of $28.81. The stock has a market cap of $4.62 billion, a P/E ratio of 37.40, a PEG ratio of 1.59 and a beta of 1.09. CareTrust REIT has a 12-month low of $20.10 and a 12-month high of $33.15. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). The company had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts predict that CareTrust REIT will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.31%. The ex-dividend date is Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is 161.11%.

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.