CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $30.83 Consensus PT from Brokerages

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned an average rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $30.83.

A number of brokerages have commented on CTRE. Wedbush cut CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. Royal Bank of Canada reduced their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $34.00 to $32.00 in a research note on Monday, December 9th.

Hedge Funds Weigh In On CareTrust REIT

Several institutional investors have recently made changes to their positions in the stock. Quantinno Capital Management LP grew its holdings in shares of CareTrust REIT by 2.3% during the fourth quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 385 shares during the last quarter. Signaturefd LLC grew its holdings in shares of CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 443 shares during the last quarter. CWM LLC grew its holdings in CareTrust REIT by 16.8% in the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 467 shares in the last quarter. WealthShield Partners LLC grew its holdings in CareTrust REIT by 1.0% in the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after buying an additional 490 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in CareTrust REIT by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 534 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Price Performance

CTRE stock opened at $25.06 on Friday. The stock has a 50-day moving average price of $26.66 and a two-hundred day moving average price of $28.87. CareTrust REIT has a 12-month low of $22.46 and a 12-month high of $33.15. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.70 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly 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 period in the previous year, the company posted $0.25 EPS. As a group, research analysts predict that CareTrust REIT will post 1.71 EPS for the current year.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 146.84%.

About CareTrust REIT

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.