Brokerages Set CareTrust REIT, Inc. (NASDAQ:CTRE) Target Price at $37.89

CareTrust REIT, Inc. (NASDAQ:CTRE) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $37.8889.

Several equities research analysts have recently weighed in on CTRE shares. KeyCorp increased their target price on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. UBS Group increased their price objective on CareTrust REIT from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Royal Bank Of Canada lifted their target price on CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Jefferies Financial Group upped their price target on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, Cantor Fitzgerald began coverage on CareTrust REIT in a report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price target for the company.

Hedge Funds Weigh In On CareTrust REIT

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in CareTrust REIT by 14.1% in the third quarter. Vanguard Group Inc. now owns 32,973,216 shares of the real estate investment trust’s stock valued at $1,143,511,000 after buying an additional 4,067,975 shares in the last quarter. State Street Corp grew its holdings in shares of CareTrust REIT by 11.7% in the 3rd quarter. State Street Corp now owns 12,206,572 shares of the real estate investment trust’s stock worth $427,336,000 after acquiring an additional 1,277,378 shares during the period. Geode Capital Management LLC increased its stake in CareTrust REIT by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,003,751 shares of the real estate investment trust’s stock valued at $153,132,000 after purchasing an additional 84,904 shares in the last quarter. Invesco Ltd. raised its holdings in CareTrust REIT by 201.8% during the second quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock worth $115,434,000 after purchasing an additional 2,522,260 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in CareTrust REIT by 114.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the real estate investment trust’s stock worth $112,305,000 after purchasing an additional 1,728,043 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $37.47 on Tuesday. The company has a fifty day moving average of $36.80 and a two-hundred day moving average of $34.55. The company has a market capitalization of $8.37 billion, a PE ratio of 47.43, a P/E/G ratio of 1.25 and a beta of 0.75. CareTrust REIT has a 1 year low of $24.79 and a 1 year high of $38.32. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.335 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.6%. CareTrust REIT’s payout ratio is 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.