Analysts Set CareTrust REIT, Inc. (NASDAQ:CTRE) Price Target at $25.00

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have received an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $25.00.

Several research analysts have recently issued reports on CTRE shares. Wedbush started coverage on CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective for the company. KeyCorp raised their price objective on CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Wells Fargo & Company raised their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st.

CareTrust REIT Trading Down 0.5 %

CareTrust REIT stock opened at $25.89 on Friday. The stock has a 50-day moving average of $25.29 and a two-hundred day moving average of $23.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 12.80 and a current ratio of 12.80. CareTrust REIT has a one year low of $19.43 and a one year high of $26.43. The stock has a market cap of $3.68 billion, a PE ratio of 49.79 and a beta of 1.09.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Friday, June 28th. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC grew its holdings in CareTrust REIT by 113.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 739 shares during the period. GAMMA Investing LLC boosted its stake in shares of CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,143 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of CareTrust REIT in the fourth quarter worth approximately $67,000. AlphaMark Advisors LLC boosted its stake in shares of CareTrust REIT by 245.2% in the fourth quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 2,575 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of CareTrust REIT by 114,366.7% in the first quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 6,862 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.