CareTrust REIT (NYSE:CTRE) Price Target Raised to $42.00

CareTrust REIT (NYSE:CTRE) had its price target boosted by Wells Fargo & Company from $41.00 to $42.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also recently commented on the company. BMO Capital Markets raised CareTrust REIT from a “hold” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Friday, January 9th. KeyCorp raised their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, January 26th. Royal Bank Of Canada upped their target price on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Finally, Citigroup began coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $42.90.

CareTrust REIT Price Performance

NYSE:CTRE opened at $37.15 on Thursday. The company has a fifty day moving average price of $38.80 and a 200 day moving average price of $36.83. CareTrust REIT has a one year low of $25.82 and a one year high of $41.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $8.29 billion, a P/E ratio of 23.97, a PEG ratio of 2.50 and a beta of 0.74.

CareTrust REIT (NYSE:CTRE) last released its earnings results on Thursday, February 12th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. CareTrust REIT had a net margin of 67.28% and a return on equity of 8.98%. The business had revenue of $134.86 million during the quarter. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s dividend payout ratio is 86.45%.

Hedge Funds Weigh In On CareTrust REIT

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in CareTrust REIT by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock worth $1,199,940,000 after purchasing an additional 210,965 shares during the last quarter. State Street Corp raised its stake in shares of CareTrust REIT by 1.8% during the fourth quarter. State Street Corp now owns 12,426,213 shares of the company’s stock worth $453,411,000 after buying an additional 219,641 shares during the last quarter. Wellington Management Group LLP lifted its holdings in CareTrust REIT by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock valued at $446,792,000 after buying an additional 1,893,143 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in CareTrust REIT by 108.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after buying an additional 3,379,732 shares during the period. Finally, Geode Capital Management LLC boosted its stake in CareTrust REIT by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after acquiring an additional 409,411 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.