CareTrust REIT (NYSE:CTRE) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

CareTrust REIT, Inc. (NYSE:CTRE)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $37.36 and traded as high as $38.15. CareTrust REIT shares last traded at $37.9610, with a volume of 2,795,069 shares changing hands.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several recent analyst reports. UBS Group lowered their price target on CareTrust REIT from $48.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, October 13th. Cantor Fitzgerald increased their price objective on shares of CareTrust REIT from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. BMO Capital Markets decreased their target price on shares of CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a report on Tuesday, October 13th. Finally, Huntington assumed coverage on shares of CareTrust REIT in a research report on Thursday, September 10th. They set an “outperform” rating and a $44.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.64.

CareTrust REIT Trading Up 3.4%

The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.27. The firm’s 50 day simple moving average is $37.36 and its 200-day simple moving average is $38.98. The company has a market capitalization of $8.97 billion, a PE ratio of 23.87, a P/E/G ratio of 1.30 and a beta of 0.77.

CareTrust REIT (NYSE:CTRE) last issued its earnings results on Thursday, August 6th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. CareTrust REIT had a net margin of 62.19% and a return on equity of 8.52%. The business had revenue of $161.35 million for the quarter. As a group, equities research analysts anticipate that CareTrust REIT, Inc. will post 2.07 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.56 annualized dividend and a yield of 4.1%. CareTrust REIT’s dividend payout ratio (DPR) is 98.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CTRE. BlackRock Inc. purchased a new stake in shares of CareTrust REIT during the 2nd quarter valued at about $1,643,290,000. Deutsche Bank AG acquired a new position in CareTrust REIT during the 2nd quarter worth approximately $143,963,000. Bank of New York Mellon Corp acquired a new position in CareTrust REIT during the 2nd quarter worth approximately $102,162,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in CareTrust REIT by 35,170.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,411,896 shares of the company’s stock worth $56,970,000 after acquiring an additional 1,407,893 shares during the period. Finally, Legal & General Group Plc purchased a new position in CareTrust REIT in the 2nd quarter worth approximately $46,866,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that owns, acquires, and manages properties used by healthcare providers. Its portfolio primarily includes skilled nursing facilities, assisted living communities, independent living facilities, and other senior housing and healthcare-related properties.

The company generally leases its properties to healthcare operators under long-term, often triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property-level expenses such as taxes, insurance, and maintenance, while CareTrust focuses on owning and managing the underlying real estate and supporting its operating partners.

CareTrust was formed in 2014 through the spin-off of healthcare properties from The Ensign Group.