CareTrust REIT, Inc. (NASDAQ:CTRE) Given Average Rating of “Hold” by Brokerages

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $30.83.

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $34.00 to $26.00 in a report on Thursday, January 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CTRE. CWM LLC grew its position in shares of CareTrust REIT by 16.8% during the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 467 shares in the last quarter. Creative Planning grew its position in shares of CareTrust REIT by 76.6% during the 3rd quarter. Creative Planning now owns 62,378 shares of the real estate investment trust’s stock worth $1,925,000 after purchasing an additional 27,048 shares in the last quarter. Blue Trust Inc. grew its position in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 772 shares in the last quarter. Raymond James & Associates grew its position in shares of CareTrust REIT by 10.6% during the 3rd quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock worth $21,138,000 after purchasing an additional 65,756 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of CareTrust REIT by 31.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,465 shares of the real estate investment trust’s stock worth $1,187,000 after purchasing an additional 9,238 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Down 0.6 %

Shares of CTRE stock opened at $25.88 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm’s 50-day moving average is $26.55 and its 200-day moving average is $28.82. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.25 and a beta of 1.09. CareTrust REIT has a 52-week low of $22.46 and a 52-week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts predict that CareTrust REIT will post 1.71 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.48%. CareTrust REIT’s dividend payout ratio is currently 146.84%.

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.