Brokerages Set CareTrust REIT, Inc. (NASDAQ:CTRE) PT at $30.83

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have received a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.83.

Several equities analysts have recently issued reports on CTRE shares. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. Royal Bank of Canada decreased their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th.

Hedge Funds Weigh In On CareTrust REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of CareTrust REIT by 16.8% during the 3rd 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. Creative Planning boosted its stake in shares of CareTrust REIT by 76.6% during the 3rd quarter. Creative Planning now owns 62,378 shares of the real estate investment trust’s stock worth $1,925,000 after buying an additional 27,048 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 772 shares during the last quarter. Raymond James & Associates boosted its stake in shares of CareTrust REIT by 10.6% during the 3rd quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock worth $21,138,000 after buying an additional 65,756 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CareTrust REIT by 31.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,465 shares of the real estate investment trust’s stock worth $1,187,000 after buying an additional 9,238 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $25.88 on Friday. The firm has a fifty day moving average of $26.55 and a two-hundred day moving average of $28.82. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.25 and a beta of 1.09. CareTrust REIT has a 52 week low of $22.46 and a 52 week high of $33.15. 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 (NASDAQ:CTRE) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business posted $0.25 earnings per share. As a group, equities research analysts predict that CareTrust REIT will post 1.71 EPS for the current year.

CareTrust REIT Dividend Announcement

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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s 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.