CareTrust REIT, Inc. (NYSE:CTRE) Stock Has Average Target Price of $43.64 According to Analysts

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $43.71.

CTRE has been the topic of a number of analyst reports. Weiss Ratings downgraded CareTrust REIT from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $43.00 target price on shares of CareTrust REIT in a research note on Monday, October 5th. UBS Group raised their target price on CareTrust REIT from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial reiterated an “outperform” rating and set a $41.00 price target on shares of CareTrust REIT in a report on Tuesday. Finally, BMO Capital Markets lowered their price target on shares of CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th.

CareTrust REIT Trading Down 0.6%

Shares of CTRE stock opened at $38.62 on Monday. The stock’s fifty day moving average is $37.25 and its two-hundred day moving average is $39.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.08 and a current ratio of 3.08. The firm has a market capitalization of $9.95 billion, a P/E ratio of 24.29, a PEG ratio of 1.38 and a beta of 0.77. CareTrust REIT has a fifty-two week low of $34.74 and a fifty-two week high of $43.62.

CareTrust REIT (NYSE:CTRE) last issued its earnings results on Thursday, November 5th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $176.36 million during the quarter. CareTrust REIT had a net margin of 59.18% and a return on equity of 8.08%. Research analysts expect that CareTrust REIT will post 2.08 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, September 30th. CareTrust REIT’s dividend payout ratio is presently 98.11%.

Hedge Funds Weigh In On CareTrust REIT

Several large investors have recently modified their holdings of CTRE. BlackRock Inc. purchased a new position in shares of CareTrust REIT during the 2nd quarter worth $1,643,290,000. Deutsche Bank AG acquired a new position in CareTrust REIT in the second quarter valued at about $143,963,000. Bank of New York Mellon Corp acquired a new position in CareTrust REIT in the second quarter valued at about $102,162,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CareTrust REIT by 35,170.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,411,896 shares of the company’s stock worth $56,970,000 after buying an additional 1,407,893 shares during the period. Finally, Legal & General Group Plc purchased a new position in CareTrust REIT during the second quarter worth about $46,866,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Top CareTrust REIT Stories

Here are a few of the latest stories about CTRE:

• Positive Sentiment: UBS raised its price target to $46 from $44 and reiterated a Buy rating, signaling a more optimistic view of CTRE’s prospects. UBS analyst recommendation
• Negative Sentiment: CareTrust launched an underwritten public offering of 17 million common shares tied to forward sale agreements. The additional share supply may create dilution concerns and near-term selling pressure; the offering remains subject to market and other conditions. Offering announcement

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.