ValuEngine lowered shares of Caretrust REIT (NASDAQ:CTRE) from a buy rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.
Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $26.00 target price on shares of Caretrust REIT and gave the company a buy rating in a research report on Wednesday, May 8th. Raymond James cut shares of Caretrust REIT from a strong-buy rating to a market perform rating and set a $25.00 target price on the stock. in a research report on Friday, May 31st. BidaskClub cut shares of Caretrust REIT from a hold rating to a sell rating in a research report on Wednesday, July 24th. Zacks Investment Research cut shares of Caretrust REIT from a buy rating to a hold rating in a research report on Wednesday. Finally, BMO Capital Markets increased their price target on shares of Caretrust REIT from $22.00 to $25.00 and gave the stock an outperform rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $23.00.
NASDAQ CTRE traded up $0.07 during trading hours on Thursday, reaching $23.15. The company had a trading volume of 520,990 shares, compared to its average volume of 612,802. The firm has a 50-day moving average price of $23.94. Caretrust REIT has a 1-year low of $16.68 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.84, a current ratio of 15.94 and a quick ratio of 15.94. The company has a market capitalization of $2.21 billion, a PE ratio of 18.09 and a beta of 0.74.
Caretrust REIT (NASDAQ:CTRE) last posted its earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.14). Caretrust REIT had a net margin of 37.46% and a return on equity of 8.08%. The company had revenue of $39.66 million during the quarter, compared to analyst estimates of $40.79 million. During the same period in the previous year, the company earned $0.32 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that Caretrust REIT will post 1.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.225 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.90 annualized dividend and a dividend yield of 3.89%. Caretrust REIT’s dividend payout ratio is presently 70.31%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. grew its position in shares of Caretrust REIT by 60.4% during the 4th quarter. Advisor Group Inc. now owns 4,168 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 1,570 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Caretrust REIT by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,229,381 shares of the real estate investment trust’s stock valued at $22,695,000 after purchasing an additional 80,010 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Caretrust REIT by 14.8% during the 4th quarter. Geode Capital Management LLC now owns 963,183 shares of the real estate investment trust’s stock valued at $17,780,000 after purchasing an additional 124,395 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Caretrust REIT by 177.4% during the 4th quarter. Squarepoint Ops LLC now owns 50,571 shares of the real estate investment trust’s stock valued at $934,000 after purchasing an additional 32,342 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Caretrust REIT by 216.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 31,120 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 21,298 shares in the last quarter. 84.03% of the stock is currently owned by institutional investors and hedge funds.
About Caretrust REIT
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
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