CareTrust REIT (NASDAQ:CTRE) Sets New 1-Year High at $28.19

CareTrust REIT, Inc. (NASDAQ:CTRE)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $28.19 and last traded at $28.17, with a volume of 103106 shares trading hands. The stock had previously closed at $27.83.

Analysts Set New Price Targets

CTRE has been the subject of a number of recent research reports. Wedbush began coverage on shares of CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective for the company. Wells Fargo & Company boosted their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. KeyCorp upped their price objective on CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, July 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.50.

CareTrust REIT Stock Performance

The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36. The stock has a market cap of $4.01 billion, a P/E ratio of 53.52 and a beta of 1.09. The business has a 50 day moving average price of $26.22 and a 200 day moving average price of $24.73.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). The business had revenue of $68.89 million during the quarter, compared to the consensus estimate of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 5.31%. During the same period last year, the company earned $0.35 EPS. As a group, sell-side analysts expect that CareTrust REIT, Inc. will post 1.47 EPS for the current year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 annualized dividend and a yield of 4.11%. CareTrust REIT’s dividend payout ratio (DPR) is 223.08%.

Hedge Funds Weigh In On CareTrust REIT

A number of institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC bought a new position in CareTrust REIT in the second quarter worth approximately $34,000. Quest Partners LLC bought a new position in shares of CareTrust REIT during the 2nd quarter worth $40,000. GAMMA Investing LLC increased its stake in shares of CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,143 shares during the period. USA Financial Formulas bought a new stake in shares of CareTrust REIT in the fourth quarter valued at about $67,000. Finally, Quarry LP lifted its stake in CareTrust REIT by 536.6% in the second quarter. Quarry LP now owns 3,100 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 2,613 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.