Caretrust REIT (CTRE) Given a $19.00 Price Target at Stephens

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.

Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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