Caretrust REIT (CTRE) Given a $19.00 Price Target by Stephens Analysts
Several other brokerages have also issued reports on CTRE. Stifel Nicolaus reiterated a hold rating and issued a $19.00 price target (up previously from $17.00) on shares of Caretrust REIT in a report on Thursday, November 9th. Zacks Investment Research upgraded Caretrust REIT from a sell rating to a buy rating and set a $21.00 price target on the stock in a report on Tuesday, October 24th. BidaskClub lowered Caretrust REIT from a sell rating to a strong sell rating in a report on Tuesday, December 12th. KeyCorp set a $20.00 price target on Caretrust REIT and gave the stock a buy rating in a report on Sunday, October 29th. Finally, Wells Fargo & Co upgraded Caretrust REIT from a market perform rating to an outperform rating and set a $20.00 price target on the stock in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $19.78.
Shares of Caretrust REIT (CTRE) traded down $0.26 during trading hours on Friday, reaching $15.43. The company’s stock had a trading volume of 648,100 shares, compared to its average volume of 645,378. The company has a market capitalization of $1,190.00, a price-to-earnings ratio of 33.54, a P/E/G ratio of 2.37 and a beta of 0.67. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.81. Caretrust REIT has a 1-year low of $14.71 and a 1-year high of $19.86.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Thursday, December 28th. Caretrust REIT’s dividend payout ratio (DPR) is presently 160.87%.
Institutional investors have recently modified their holdings of the company. Riverhead Capital Management LLC raised its stake in shares of Caretrust REIT by 90.7% in the second quarter. Riverhead Capital Management LLC now owns 5,529 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 2,629 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Caretrust REIT by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,277 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 437 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Caretrust REIT by 18.2% in the second quarter. Ameritas Investment Partners Inc. now owns 6,329 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 975 shares during the last quarter. Pinebridge Investments L.P. raised its stake in shares of Caretrust REIT by 10.7% in the second quarter. Pinebridge Investments L.P. now owns 9,558 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 920 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Caretrust REIT in the second quarter worth approximately $183,000. 91.15% of the stock is owned by hedge funds and other institutional investors.
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About Caretrust REIT
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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