CareTrust REIT (NASDAQ:CTRE) Given Underperform Rating at Wedbush

Wedbush reiterated their underperform rating on shares of CareTrust REIT (NASDAQ:CTRE) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $26.00 target price on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wells Fargo & Company decreased their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Royal Bank of Canada decreased their target price 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. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Trading Up 2.3 %

Shares of CTRE opened at $28.35 on Friday. CareTrust REIT has a 1-year low of $23.26 and a 1-year high of $33.15. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 1.25 and a beta of 1.11. The firm’s 50-day moving average price is $26.39 and its 200-day moving average price is $28.68. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 previous year, the firm earned $0.25 EPS. Sell-side analysts anticipate that CareTrust REIT will post 1.71 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.09%. CareTrust REIT’s dividend payout ratio (DPR) is presently 146.84%.

Institutional Trading of CareTrust REIT

Large investors have recently made changes to their positions in the stock. Advantage Trust Co bought a new stake in shares of CareTrust REIT in the fourth quarter worth approximately $30,000. Versant Capital Management Inc grew its stake in shares of CareTrust REIT by 98.8% in the fourth 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 during the period. Blue Trust Inc. grew its holdings in shares of CareTrust REIT by 50.0% in the fourth 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 during the period. Quarry LP grew its holdings in shares of CareTrust REIT by 463.5% in the fourth 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 during the period. Finally, Glen Eagle Advisors LLC purchased a new stake in CareTrust REIT during the fourth quarter valued at $56,000. 87.77% of the stock is currently owned by institutional investors.

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.