CareTrust REIT, Inc. (NYSE:CTRE) Receives $42.90 Consensus Target Price from Brokerages

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have earned an average rating of “Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $42.90.

CTRE has been the topic of several recent analyst reports. Citigroup assumed coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating on the stock. KeyCorp increased their price target on CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Citizens Jmp began coverage on CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price target on the stock. Cantor Fitzgerald boosted their price objective on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, Wells Fargo & Company upped their price objective on CareTrust REIT from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, March 26th.

CareTrust REIT Trading Down 0.0%

Shares of NYSE:CTRE opened at $36.65 on Friday. The stock has a 50 day moving average of $38.77 and a 200 day moving average of $36.89. The company has a market cap of $8.18 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. CareTrust REIT has a 12-month low of $25.82 and a 12-month high of $41.72. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.22.

CareTrust REIT (NYSE:CTRE) last released its earnings results on Thursday, February 12th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $134.86 million for the quarter. CareTrust REIT had a net margin of 67.28% and a return on equity of 8.98%. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s dividend payout ratio is currently 86.45%.

Institutional Investors Weigh In On CareTrust REIT

Institutional investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc boosted its holdings in shares of CareTrust REIT by 22.1% during the 3rd quarter. Aberdeen Group plc now owns 84,824 shares of the company’s stock valued at $2,911,000 after purchasing an additional 15,374 shares during the last quarter. AGF Management Ltd. bought a new stake in shares of CareTrust REIT in the third quarter worth about $538,000. Allspring Global Investments Holdings LLC lifted its position in shares of CareTrust REIT by 31.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 358,025 shares of the company’s stock worth $12,617,000 after buying an additional 85,022 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of CareTrust REIT by 30.0% in the third quarter. Principal Financial Group Inc. now owns 1,235,559 shares of the company’s stock worth $42,849,000 after buying an additional 285,209 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its stake in CareTrust REIT by 350.9% during the third quarter. Copeland Capital Management LLC now owns 1,716,101 shares of the company’s stock valued at $59,514,000 after buying an additional 1,335,513 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.