Shares of CareTrust REIT, Inc. (NASDAQ:CTRE – Get Free Report) 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.
Get Our Latest Stock Report on CareTrust REIT
CareTrust REIT Trading Down 0.5 %
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.
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