CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $39.00 Consensus Target Price from Analysts

CareTrust REIT, Inc. (NASDAQ:CTRE) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $39.00.

Several equities analysts recently commented on CTRE shares. The Goldman Sachs Group set a $44.00 price objective on CareTrust REIT in a research note on Thursday, January 22nd. Citigroup initiated coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating on the stock. Wells Fargo & Company increased their price target on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. KeyCorp boosted their price objective on CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Citizens Jmp began coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price objective on the stock.

Institutional Investors Weigh In On CareTrust REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of CareTrust REIT by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,184,181 shares of the real estate investment trust’s stock worth $1,199,940,000 after acquiring an additional 210,965 shares during the period. State Street Corp lifted its holdings in CareTrust REIT by 1.8% during the 4th quarter. State Street Corp now owns 12,426,213 shares of the real estate investment trust’s stock worth $453,411,000 after purchasing an additional 219,641 shares in the last quarter. Geode Capital Management LLC boosted its stake in CareTrust REIT by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 6,092,398 shares of the real estate investment trust’s stock worth $220,332,000 after purchasing an additional 409,411 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CareTrust REIT by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,083 shares of the real estate investment trust’s stock valued at $160,228,000 after buying an additional 202,025 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in CareTrust REIT by 201.8% during the 2nd quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock valued at $115,434,000 after buying an additional 2,522,260 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $40.02 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 has a market cap of $8.94 billion, a price-to-earnings ratio of 50.65, a P/E/G ratio of 1.25 and a beta of 0.75. CareTrust REIT has a 52 week low of $24.79 and a 52 week high of $40.50. The firm’s 50-day simple moving average is $37.15 and its two-hundred day simple moving average is $35.55.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 100.00%.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.