Stephens set a $19.00 target price on Caretrust REIT (NASDAQ:CTRE) in a research note released on Friday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.
Several other analysts have also recently weighed in on CTRE. Zacks Investment Research raised Caretrust REIT from a sell rating to a hold rating in a report on Tuesday, September 19th. Capital One Financial assumed coverage on Caretrust REIT in a research report on Monday, October 23rd. They set an equal weight rating and a $21.00 price objective on the stock. KeyCorp set a $20.00 price objective on Caretrust REIT and gave the company a buy rating in a research report on Sunday, October 29th. Stifel Nicolaus reiterated a hold rating and set a $19.00 price objective (up from $17.00) on shares of Caretrust REIT in a research report on Thursday, November 9th. Finally, BMO Capital Markets reiterated a hold rating and set a $20.00 price objective on shares of Caretrust REIT in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $19.78.
Caretrust REIT (NASDAQ CTRE) traded down $0.26 during trading hours on Friday, hitting $15.43. The company’s stock had a trading volume of 648,184 shares, compared to its average volume of 593,216. Caretrust REIT has a 1 year low of $14.71 and a 1 year high of $19.86. The stock has a market cap of $1,191.23, a PE ratio of 32.83, a P/E/G ratio of 2.41 and a beta of 0.77. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.81.
Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Caretrust REIT had a net margin of 25.68% and a return on equity of 5.76%. The business had revenue of $32.90 million during the quarter, compared to analysts’ expectations of $32.91 million. During the same period in the previous year, the business earned $0.28 EPS. The business’s revenue was up 21.4% on a year-over-year basis. equities analysts expect that Caretrust REIT will post 1.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.74 annualized dividend and a dividend yield of 4.80%. Caretrust REIT’s dividend payout ratio (DPR) is presently 157.45%.
Several institutional investors have recently made changes to their positions in CTRE. SG Americas Securities LLC bought a new position in shares of Caretrust REIT during the 2nd quarter valued at about $191,000. Comerica Bank grew its position in Caretrust REIT by 4.1% during the 2nd quarter. Comerica Bank now owns 76,156 shares of the real estate investment trust’s stock worth $1,392,000 after acquiring an additional 3,027 shares during the last quarter. Prudential Financial Inc. grew its position in Caretrust REIT by 12.3% during the 2nd quarter. Prudential Financial Inc. now owns 126,148 shares of the real estate investment trust’s stock worth $2,339,000 after acquiring an additional 13,855 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Caretrust REIT by 7.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,277 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 437 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Caretrust REIT by 27.3% during the 2nd quarter. Principal Financial Group Inc. now owns 664,928 shares of the real estate investment trust’s stock worth $12,328,000 after acquiring an additional 142,702 shares during the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.
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Caretrust REIT Company Profile
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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