Stifel Nicolaus reissued their hold rating on shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in a research report report published on Thursday morning. The firm currently has a $19.00 target price on the real estate investment trust’s stock, up from their prior target price of $17.00.
CTRE has been the topic of a number of other research reports. Zacks Investment Research upgraded CareTrust REIT from a hold rating to a buy rating and set a $20.00 target price on the stock in a report on Monday, July 17th. KeyCorp restated a buy rating and issued a $20.00 target price on shares of CareTrust REIT in a report on Friday, August 25th. BidaskClub upgraded CareTrust REIT from a hold rating to a buy rating in a report on Saturday, August 19th. Finally, Capital One Financial Corporation reissued an equal weight rating and issued a $21.00 target price on shares of CareTrust REIT in a research report on Sunday, October 22nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $19.38.
CareTrust REIT (CTRE) traded down $0.12 during trading on Thursday, reaching $18.65. The company’s stock had a trading volume of 422,900 shares, compared to its average volume of 542,883. The company has a market capitalization of $1,425.07, a P/E ratio of 16.18, a PEG ratio of 4.01 and a beta of 0.83. The company has a quick ratio of 3.06, a current ratio of 1.60 and a debt-to-equity ratio of 0.81. CareTrust REIT has a 1 year low of $13.36 and a 1 year high of $19.86.
CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). CareTrust REIT had a return on equity of 5.76% and a net margin of 25.68%. The business had revenue of $32.90 million for the quarter, compared to analyst estimates of $32.91 million. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. equities research analysts forecast that CareTrust REIT will post 1.17 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Thursday, September 28th. CareTrust REIT’s dividend payout ratio (DPR) is presently 157.45%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in shares of CareTrust REIT by 2.0% in the 3rd quarter. Wells Fargo & Company MN now owns 206,262 shares of the real estate investment trust’s stock valued at $3,927,000 after acquiring an additional 4,131 shares during the last quarter. Amalgamated Bank purchased a new position in shares of CareTrust REIT during the 3rd quarter worth approximately $197,000. Schroder Investment Management Group grew its holdings in shares of CareTrust REIT by 94.6% during the 3rd quarter. Schroder Investment Management Group now owns 19,270 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 9,370 shares during the period. Virginia Retirement Systems ET AL grew its holdings in shares of CareTrust REIT by 38.7% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 106,900 shares of the real estate investment trust’s stock worth $2,035,000 after acquiring an additional 29,800 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of CareTrust REIT by 28.2% during the 3rd quarter. Legal & General Group Plc now owns 325,843 shares of the real estate investment trust’s stock worth $6,204,000 after acquiring an additional 71,579 shares during the period. 89.18% of the stock is owned by institutional investors.
About CareTrust REIT
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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