CareTrust REIT, Inc. (NASDAQ:CTRE) Given Average Recommendation of “Moderate Buy” by Brokerages

CareTrust REIT, Inc. (NASDAQ:CTRE) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $29.00.

Several research analysts have recently issued reports on CTRE shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. Royal Bank of Canada boosted their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday.

CareTrust REIT Stock Down 0.1 %

Shares of CTRE opened at $30.84 on Wednesday. CareTrust REIT has a one year low of $19.87 and a one year high of $31.51. The company has a market cap of $4.38 billion, a P/E ratio of 59.31 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. The firm has a 50 day simple moving average of $28.99 and a two-hundred day simple moving average of $26.36.

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). CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. The firm had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Research analysts forecast that CareTrust REIT will post 1.48 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.76%. CareTrust REIT’s dividend payout ratio (DPR) is currently 223.08%.

Insider Buying and Selling at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the sale, the chief financial officer now owns 257,439 shares of the company’s stock, valued at $7,671,682.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.75% of the company’s stock.

Institutional Trading of CareTrust REIT

Institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in CareTrust REIT during the second quarter valued at $27,000. Rothschild Investment LLC bought a new position in shares of CareTrust REIT during the 2nd quarter worth about $34,000. Quest Partners LLC bought a new position in shares of CareTrust REIT during the 2nd quarter worth about $40,000. GAMMA Investing LLC boosted its position in shares of CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Quarry LP boosted its position in shares of CareTrust REIT by 536.6% during the 2nd quarter. Quarry LP now owns 3,100 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 2,613 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.