Caretrust REIT Inc (NASDAQ:CTRE) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Caretrust REIT Inc (NASDAQ:CTRE) have been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $17.67.
Several equities research analysts recently commented on the company. TheStreet raised Caretrust REIT from a “c” rating to a “b” rating in a report on Friday, May 5th. BidaskClub raised Caretrust REIT from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 15th. BMO Capital Markets cut Caretrust REIT from an “outperform” rating to a “market perform” rating and increased their price target for the company from $18.00 to $20.00 in a report on Tuesday, June 20th. Zacks Investment Research cut Caretrust REIT from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $19.00 price target on shares of Caretrust REIT in a report on Wednesday, May 3rd.
Caretrust REIT (CTRE) traded up 0.33% during mid-day trading on Tuesday, reaching $18.00. The company’s stock had a trading volume of 445,986 shares. Caretrust REIT has a 12-month low of $12.70 and a 12-month high of $19.86.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.185 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.74 annualized dividend and a dividend yield of 4.11%.
Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Caretrust REIT by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 949,207 shares of the real estate investment trust’s stock valued at $17,598,000 after buying an additional 79,261 shares during the period. Virtu KCG Holdings LLC acquired a new stake in Caretrust REIT during the second quarter valued at about $302,000. Renaissance Technologies LLC boosted its stake in Caretrust REIT by 75.5% in the second quarter. Renaissance Technologies LLC now owns 670,300 shares of the real estate investment trust’s stock valued at $12,427,000 after buying an additional 288,400 shares during the period. Ramsey Quantitative Systems acquired a new stake in Caretrust REIT during the second quarter valued at about $337,000. Finally, EAM Investors LLC acquired a new stake in Caretrust REIT during the second quarter valued at about $1,434,000. 87.47% of the stock is owned by institutional investors.
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Caretrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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