CareTrust REIT (NASDAQ:CTRE) Hits New 12-Month High at $30.02

CareTrust REIT, Inc. (NASDAQ:CTRE)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $30.02 and last traded at $29.98, with a volume of 254299 shares. The stock had previously closed at $29.50.

Analyst Ratings Changes

Several research firms recently issued reports on CTRE. Royal Bank of Canada upped their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. KeyCorp upped their target price on CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Wedbush assumed coverage on shares of CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective on the stock. Wells Fargo & Company boosted their target price on CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Hold” and an average price target of $26.67.

CareTrust REIT Stock Performance

The stock’s fifty day moving average price is $27.42 and its 200-day moving average price is $25.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37. The company has a market capitalization of $4.23 billion, a P/E ratio of 57.54 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The firm had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same quarter in the previous year, the company earned $0.35 earnings per share. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.48 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Friday, June 28th. CareTrust REIT’s dividend payout ratio (DPR) is 223.08%.

Insider Buying and Selling at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the transaction, the chief financial officer now owns 257,439 shares of the company’s stock, valued at $7,671,682.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of CareTrust REIT

Large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in CareTrust REIT in the 2nd quarter valued at about $319,000. Quarry LP raised its position in shares of CareTrust REIT by 536.6% during the 2nd quarter. Quarry LP now owns 3,100 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 2,613 shares in the last quarter. Creative Planning raised its position in CareTrust REIT by 3.1% during the second quarter. Creative Planning now owns 35,330 shares of the real estate investment trust’s stock valued at $887,000 after purchasing an additional 1,071 shares in the last quarter. Algert Global LLC purchased a new position in shares of CareTrust REIT in the 2nd quarter worth about $341,000. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of CareTrust REIT by 27.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 247,068 shares of the real estate investment trust’s stock valued at $6,201,000 after purchasing an additional 52,610 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.