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.
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