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

CareTrust REIT, Inc. (NASDAQ:CTRE) has received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $31.00.

Several analysts recently weighed in on CTRE shares. Wedbush reissued an “underperform” rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Wells Fargo & Company dropped 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 shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, March 13th. Finally, Royal Bank of Canada dropped their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st.

Institutional Trading of CareTrust REIT

A number of institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of CareTrust REIT by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock worth $738,482,000 after buying an additional 4,263,097 shares in the last quarter. FMR LLC lifted its position in shares of CareTrust REIT by 51.8% during the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust’s stock worth $214,586,000 after buying an additional 2,708,050 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in CareTrust REIT in the fourth quarter valued at about $49,048,000. Finally, Balyasny Asset Management L.P. boosted its stake in CareTrust REIT by 149.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust’s stock valued at $73,269,000 after buying an additional 1,623,297 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.5 %

Shares of CareTrust REIT stock opened at $28.76 on Friday. CareTrust REIT has a 1 year low of $23.26 and a 1 year high of $33.15. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 36.40, a P/E/G ratio of 1.25 and a beta of 0.88. The business has a fifty day simple moving average of $27.21 and a two-hundred day simple moving average of $28.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

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 the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter in the prior year, the company posted $0.25 EPS. Research analysts forecast that CareTrust REIT will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 4.66%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. CareTrust REIT’s dividend payout ratio is presently 169.62%.

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.