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

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.83.

Several brokerages recently weighed in on CTRE. Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $34.00 to $26.00 in a research report on Thursday, January 2nd. Royal Bank of Canada lowered their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $32.00 in a research report on Monday, December 9th.

CareTrust REIT Trading Down 0.0 %

Shares of CTRE stock opened at $25.96 on Friday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT has a twelve month low of $22.46 and a twelve month high of $33.15. The company’s 50-day moving average price is $26.58 and its 200-day moving average price is $28.84. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 1.25 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter last year, the business earned $0.25 earnings per share. As a group, equities analysts predict that CareTrust REIT will post 1.71 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is 146.84%.

Institutional Investors Weigh In On CareTrust REIT

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp grew its position in CareTrust REIT by 254.3% in the 4th quarter. Mackenzie Financial Corp now owns 73,151 shares of the real estate investment trust’s stock valued at $1,979,000 after acquiring an additional 52,502 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $76,000. Public Employees Retirement System of Ohio boosted its stake in shares of CareTrust REIT by 20.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 265,772 shares of the real estate investment trust’s stock valued at $7,189,000 after purchasing an additional 45,262 shares during the period. GTS Securities LLC acquired a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $562,000. Finally, Glen Eagle Advisors LLC purchased a new stake in CareTrust REIT during the 4th quarter worth approximately $56,000. 87.77% of the stock is 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.