CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $37.78 Average Price Target from Analysts

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $37.7778.

A number of analysts have commented on CTRE shares. Raymond James Financial set a $39.00 price objective on CareTrust REIT and gave the stock a “strong-buy” rating in a research report on Tuesday, September 2nd. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Royal Bank Of Canada increased their price objective on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. KeyCorp boosted their target price on shares of CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Jefferies Financial Group upped their target price on shares of CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CTRE. Heritage Wealth Advisors grew its position in CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP boosted its stake in CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 555 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of CareTrust REIT by 109.5% during the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 575 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 644 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of CareTrust REIT by 75.1% in the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 640 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $36.95 on Friday. The firm’s 50-day moving average is $36.25 and its 200-day moving average is $33.80. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 1.25 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT has a 52-week low of $24.79 and a 52-week high of $38.32.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 100.00%.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.