CareTrust REIT, Inc. (NASDAQ:CTRE) Receives Consensus Rating of “Hold” from Analysts

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have received a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $30.83.

Several analysts have commented on CTRE shares. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. Royal Bank of Canada decreased their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Finally, Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd.

CareTrust REIT Stock Performance

CTRE opened at $25.96 on Friday. The firm has a fifty day moving average price of $26.58 and a 200 day moving average price of $28.84. CareTrust REIT has a 1 year low of $22.46 and a 1 year high of $33.15. The stock has a market cap of $4.87 billion, a P/E ratio of 32.86, a P/E/G ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter last year, the company posted $0.25 earnings per share. Equities research analysts anticipate that CareTrust REIT will post 1.71 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 146.84%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Advantage Trust Co purchased a new stake in shares of CareTrust REIT during the fourth quarter worth $30,000. Blue Trust Inc. boosted its position in CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 772 shares during the last quarter. Versant Capital Management Inc raised its holdings in CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 743 shares during the last quarter. Quarry LP lifted its stake in CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,990 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

About CareTrust REIT

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.