CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) has received a consensus rating of “Hold” from the ten analysts that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, two have issued 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 $21.19.
Several brokerages have issued reports on CTRE. KeyCorp lowered their price target on shares of CareTrust REIT from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Capital One Financial initiated coverage on shares of CareTrust REIT in a research report on Friday, June 3rd. They issued an “equal weight” rating and a $21.50 price objective for the company. StockNews.com initiated coverage on shares of CareTrust REIT in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Barclays downgraded shares of CareTrust REIT from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $17.00 in a research report on Monday, April 18th.
Hedge Funds Weigh In On CareTrust REIT
Ad Tradewins
The Safest Option in Trades!
If you’re new to trading, then you’ve probably heard the wrong thing about options—that they’re risky, unpredictable, or difficult.
And it couldn’t be more wrong! With the Hughes Optioneering Strategy, you’ll soon learn that the safest option for new accounts is options themselves!
Several hedge funds and other institutional investors have recently made changes to their positions in the company. abrdn plc increased its position in CareTrust REIT by 3.2% during the 1st quarter. abrdn plc now owns 21,413 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 674 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in CareTrust REIT by 2.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 30,750 shares of the real estate investment trust’s stock worth $567,000 after acquiring an additional 704 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in CareTrust REIT by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 13,982 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 725 shares during the last quarter. Renaissance Group LLC grew its holdings in CareTrust REIT by 8.0% during the 1st quarter. Renaissance Group LLC now owns 12,826 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 953 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in CareTrust REIT by 5.9% during the 1st quarter. Mackenzie Financial Corp now owns 17,638 shares of the real estate investment trust’s stock worth $340,000 after acquiring an additional 985 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.
CareTrust REIT Trading Down 0.6 %
Shares of NASDAQ:CTRE opened at $19.87 on Tuesday. CareTrust REIT has a 12 month low of $15.90 and a 12 month high of $24.58. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The company’s fifty day simple moving average is $18.43 and its 200 day simple moving average is $18.64. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 248.38 and a beta of 1.12.
CareTrust REIT Dividend Announcement
The firm also recently disclosed a dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.275 dividend. This represents a yield of 6.29%. The ex-dividend date was Wednesday, June 29th. CareTrust REIT’s dividend payout ratio is currently 1,375.00%.
CareTrust REIT Company Profile
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should you invest $1,000 in CareTrust REIT right now?
Before you consider CareTrust REIT, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and CareTrust REIT wasn’t on the list.
While CareTrust REIT currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Read More: CareTrust REIT, Inc. (NASDAQ:CTRE) Given Average Recommendation of “Hold” by Analysts