CareTrust REIT, Inc. (NASDAQ:CTRE) Receives $26.67 Average Target Price from Analysts

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $26.67.

A number of research firms have recently issued reports on CTRE. Royal Bank of Canada lifted their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Wedbush assumed coverage on CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 1st.

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE opened at $29.77 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. The business’s fifty day moving average price is $27.52 and its two-hundred day moving average price is $25.48. CareTrust REIT has a fifty-two week low of $19.79 and a fifty-two week high of $30.33. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 57.25 and a beta of 1.09.

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

CareTrust REIT Dividend Announcement

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

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at approximately $7,671,682.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of CareTrust REIT

Institutional investors and hedge funds have recently made changes to their positions in the business. United Services Automobile Association boosted its position in shares of CareTrust REIT by 5.0% in the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 540 shares during the last quarter. Foundations Investment Advisors LLC grew its position in shares of CareTrust REIT by 5.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 624 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of CareTrust REIT by 4.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock valued at $559,000 after acquiring an additional 895 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of CareTrust REIT by 2.2% in the 4th quarter. New York State Common Retirement Fund now owns 41,516 shares of the real estate investment trust’s stock valued at $929,000 after acquiring an additional 910 shares during the period. Finally, Creative Planning boosted its stake in CareTrust REIT by 3.1% during the 2nd quarter. Creative Planning now owns 35,330 shares of the real estate investment trust’s stock worth $887,000 after acquiring an additional 1,071 shares during the last quarter. Institutional investors 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.