CareTrust REIT (NASDAQ:CTRE) Upgraded to “Buy” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT (NASDAQ:CTRE) from a hold rating to a buy rating in a report published on Thursday morning, Marketbeat reports. The brokerage currently has $31.00 target price on the real estate investment trust’s stock.

CTRE has been the subject of several other reports. Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. Wells Fargo & Company cut their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada cut their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $27.64 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT has a 1-year low of $23.26 and a 1-year high of $33.15. The business’s fifty day moving average price is $26.37 and its 200-day moving average price is $28.69.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business earned $0.25 earnings per share. On average, equities analysts predict that CareTrust REIT will post 1.71 earnings per share for the current year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 146.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTRE. Mackenzie Financial Corp lifted its holdings in shares of CareTrust REIT by 254.3% in the 4th quarter. Mackenzie Financial Corp now owns 73,151 shares of the real estate investment trust’s stock valued at $1,979,000 after acquiring an additional 52,502 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in CareTrust REIT in the fourth quarter worth about $76,000. Public Employees Retirement System of Ohio lifted its stake in CareTrust REIT by 20.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 265,772 shares of the real estate investment trust’s stock worth $7,189,000 after purchasing an additional 45,262 shares during the last quarter. GTS Securities LLC bought a new stake in CareTrust REIT in the fourth quarter worth about $562,000. Finally, Glen Eagle Advisors LLC bought a new stake in CareTrust REIT in the fourth quarter worth about $56,000. Institutional investors own 87.77% of the company’s stock.

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.