CareTrust REIT (NYSE:CTRE) Price Target Raised to $46.00

CareTrust REIT (NYSE:CTRE) had its target price raised by UBS Group from $44.00 to $46.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

CTRE has been the topic of several other research reports. Cantor Fitzgerald boosted their target price on shares of CareTrust REIT from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Huntington assumed coverage on shares of CareTrust REIT in a research note on Thursday, September 10th. They set an “outperform” rating and a $44.00 target price for the company. Wall Street Zen cut shares of CareTrust REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. KeyCorp reiterated an “overweight” rating on shares of CareTrust REIT in a research note on Tuesday, October 6th. Finally, BMO Capital Markets dropped their price objective on shares of CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.71.

CareTrust REIT Stock Down 0.2%

Shares of CareTrust REIT stock opened at $38.06 on Wednesday. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77. CareTrust REIT has a twelve month low of $34.74 and a twelve month high of $43.62. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average is $37.19 and its 200 day moving average is $39.02.

CareTrust REIT (NYSE:CTRE) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.17). CareTrust REIT had a return on equity of 8.08% and a net margin of 59.18%. The business had revenue of $176.36 million for the quarter. Research analysts anticipate that CareTrust REIT will post 2.08 EPS for the current year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.1%. The ex-dividend date was Wednesday, September 30th. CareTrust REIT’s payout ratio is 98.11%.

Hedge Funds Weigh In On CareTrust REIT

Several hedge funds have recently made changes to their positions in the company. Persistent Asset Partners Ltd acquired a new position in CareTrust REIT during the second quarter valued at $31,000. Compass Financial Management LLC purchased a new stake in CareTrust REIT in the second quarter valued at $34,000. Signature Equity Partners LLC grew its position in CareTrust REIT by 37.8% during the 3rd quarter. Signature Equity Partners LLC now owns 1,393 shares of the company’s stock worth $51,000 after purchasing an additional 382 shares during the period. Burnham & Co LLC acquired a new stake in CareTrust REIT during the 2nd quarter worth about $61,000. Finally, Allworth Financial LP acquired a new stake in CareTrust REIT during the 2nd quarter worth about $66,000. 87.77% of the stock is owned by institutional investors and hedge funds.

About CareTrust REIT

CareTrust REIT, Inc. is a real estate investment trust that owns and invests in healthcare-related properties, with a focus on skilled nursing facilities and senior housing. Its portfolio also includes assisted living and other properties that serve older adults and people requiring healthcare services. The company primarily works with healthcare operators through long-term property leases and other real estate investments. CareTrust’s properties are located across the United States, and the company has expanded its investments into the United Kingdom.