Brokerages Set CareTrust REIT, Inc. (NYSE:CTRE) Target Price at $44.82

CareTrust REIT, Inc. (NYSE:CTRE) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $44.8182.

A number of research analysts have commented on the company. Raymond James Financial began coverage on CareTrust REIT in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 target price on the stock. BMO Capital Markets raised their price target on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Wells Fargo & Company lifted their price target on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Mizuho set a $45.00 price target on CareTrust REIT in a research note on Friday, May 22nd. Finally, Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $41.25 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22. CareTrust REIT has a 1 year low of $31.92 and a 1 year high of $43.62. The business has a fifty day simple moving average of $40.14 and a 200 day simple moving average of $39.44. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.89 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT’s payout ratio is currently 100.00%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. acquired a new stake in shares of CareTrust REIT in the 2nd quarter valued at $417,000. Dockside LLC bought a new stake in CareTrust REIT in the second quarter worth $4,429,000. Hennion & Walsh Asset Management Inc. increased its position in CareTrust REIT by 13.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 82,083 shares of the company’s stock worth $3,312,000 after buying an additional 9,598 shares during the last quarter. Community Trust & Investment Co. increased its position in CareTrust REIT by 1.3% during the second quarter. Community Trust & Investment Co. now owns 86,574 shares of the company’s stock worth $3,493,000 after buying an additional 1,141 shares during the last quarter. Finally, Moody National Bank Trust Division raised its holdings in CareTrust REIT by 48.2% during the second quarter. Moody National Bank Trust Division now owns 38,097 shares of the company’s stock valued at $1,537,000 after buying an additional 12,391 shares in 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.