CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Consensus Rating of “Hold” from Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.67.

A number of research analysts have commented on the company. KeyCorp upped their price objective on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $34.00 to $26.00 in a research note on Thursday.

CareTrust REIT Price Performance

Shares of CTRE opened at $26.52 on Friday. The company’s 50-day moving average is $29.46 and its 200-day moving average is $28.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The firm has a market capitalization of $4.55 billion, a PE ratio of 36.83, a PEG ratio of 1.59 and a beta of 1.08. CareTrust REIT has a fifty-two week low of $20.10 and a fifty-two week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The company had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same quarter last year, the business earned $0.35 earnings per share. Equities analysts forecast that CareTrust REIT will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.37%. CareTrust REIT’s payout ratio is 161.11%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTRE. JPMorgan Chase & Co. increased its stake in shares of CareTrust REIT by 381.2% in the 3rd 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 during the last quarter. Principal Financial Group Inc. lifted its position in shares of CareTrust REIT by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock worth $25,870,000 after buying an additional 41,623 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in CareTrust REIT in the third quarter valued at about $985,000. Franklin Resources Inc. grew its position in CareTrust REIT by 2.3% in the third quarter. Franklin Resources Inc. now owns 58,065 shares of the real estate investment trust’s stock valued at $1,754,000 after acquiring an additional 1,318 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in CareTrust REIT during the third quarter worth about $576,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.