CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have received an average rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $31.00.

Several research analysts have recently weighed in on CTRE shares. BMO Capital Markets upped their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. KeyCorp lifted their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Finally, Royal Bank of Canada raised their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd.

Insider Activity

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the transaction, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at $7,671,682.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT during the 2nd quarter valued at about $27,000. Rothschild Investment LLC bought a new stake in shares of CareTrust REIT during the 2nd quarter worth about $34,000. Blue Trust Inc. raised its position 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 in the last quarter. Quest Partners LLC bought a new stake in shares of CareTrust REIT during the 2nd quarter worth about $40,000. Finally, GAMMA Investing LLC raised its position in shares of CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,143 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Up 0.3 %

Shares of CareTrust REIT stock opened at $30.94 on Friday. CareTrust REIT has a twelve month low of $20.10 and a twelve month high of $31.51. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 59.50 and a beta of 1.10. The company has a current ratio of 13.37, a quick ratio of 13.37 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $30.18 and a 200 day moving average price of $27.12.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The company had revenue of $68.89 million during the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts forecast that CareTrust REIT will post 1.48 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 223.08%.

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.