CareTrust REIT, Inc. (CTRE) PT Set at $20.00 by KeyCorp

KeyCorp set a $20.00 price objective on CareTrust REIT, Inc. (NASDAQ:CTRE) in a research note released on Sunday morning. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on CTRE. BidaskClub cut shares of CareTrust REIT from a strong-buy rating to a buy rating in a research note on Saturday, July 8th. Zacks Investment Research raised shares of CareTrust REIT from a hold rating to a buy rating and set a $20.00 price objective for the company in a research note on Monday, July 17th. Finally, Capital One Financial Corporation initiated coverage on shares of CareTrust REIT in a research note on Monday, October 23rd. They issued an equal weight rating and a $21.00 price objective for the company. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $19.00.

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The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a dividend of $0.185 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.92%. CareTrust REIT’s dividend payout ratio is presently 164.45%.

Several hedge funds have recently added to or reduced their stakes in CTRE. Riverhead Capital Management LLC boosted its stake in shares of CareTrust REIT by 90.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,529 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 2,629 shares during the period. GAM Holding AG boosted its stake in shares of CareTrust REIT by 19.6% during the 2nd quarter. GAM Holding AG now owns 6,100 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CareTrust REIT by 7.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,277 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 437 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of CareTrust REIT by 18.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,329 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 975 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of CareTrust REIT by 24.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,606 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 1,300 shares during the period. 89.56% of the stock is owned by hedge funds and other institutional investors.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.

Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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