CareTrust REIT, Inc. (NASDAQ:CTRE) Given Average Recommendation of “Hold” by Brokerages

CareTrust REIT, Inc. (NASDAQ:CTREGet Rating) has been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.17.

A number of equities research analysts have issued reports on CTRE shares. Zacks Investment Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 10th. Raymond James cut their price target on CareTrust REIT from $27.00 to $23.00 and set a “strong-buy” rating for the company in a research note on Friday, March 18th. Credit Suisse Group started coverage on CareTrust REIT in a research note on Tuesday, February 1st. They issued a “neutral” rating and a $22.00 price target for the company. Barclays lowered CareTrust REIT from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $17.00 in a research note on Monday, April 18th. Finally, TheStreet lowered CareTrust REIT from a “b” rating to a “c+” rating in a research note on Monday, February 14th.

Shares of NASDAQ:CTRE traded up $0.25 during midday trading on Thursday, hitting $17.63. The company had a trading volume of 33,320 shares, compared to its average volume of 737,796. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 0.88. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 221.25 and a beta of 1.20. CareTrust REIT has a 12-month low of $15.90 and a 12-month high of $24.58. The company has a fifty day moving average of $17.83 and a two-hundred day moving average of $19.72.

CareTrust REIT (NASDAQ:CTREGet Rating) last posted its quarterly earnings data on Tuesday, February 15th. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). CareTrust REIT had a return on equity of 0.91% and a net margin of 4.26%. During the same period in the previous year, the business earned $0.36 earnings per share. Research analysts expect that CareTrust REIT will post 1.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were given a dividend of $0.275 per share. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, March 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.24%. CareTrust REIT’s dividend payout ratio (DPR) is presently 1,375.00%.

Several large investors have recently made changes to their positions in CTRE. American Century Companies Inc. lifted its holdings in shares of CareTrust REIT by 2,320.1% in the 3rd quarter. American Century Companies Inc. now owns 1,336,029 shares of the real estate investment trust’s stock valued at $27,148,000 after acquiring an additional 1,280,823 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of CareTrust REIT by 101.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,034,849 shares of the real estate investment trust’s stock valued at $46,455,000 after acquiring an additional 1,022,938 shares during the last quarter. Norges Bank bought a new stake in CareTrust REIT in the fourth quarter worth about $21,904,000. State Street Corp lifted its stake in CareTrust REIT by 12.1% in the first quarter. State Street Corp now owns 5,959,881 shares of the real estate investment trust’s stock worth $116,638,000 after purchasing an additional 641,444 shares during the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in CareTrust REIT in the fourth quarter worth about $12,401,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

About CareTrust REIT (Get Rating)

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.

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