CareTrust REIT, Inc. (NASDAQ:CTRE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of CareTrust REIT, Inc. (NASDAQ:CTREGet Rating) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.92.

Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of CareTrust REIT in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays decreased their price target on shares of CareTrust REIT from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, October 21st. Finally, Raymond James decreased their price target on shares of CareTrust REIT from $23.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 1st.

Institutional Investors Weigh In On CareTrust REIT

Several institutional investors have recently modified their holdings of the company. Peak Financial Advisors LLC lifted its position in shares of CareTrust REIT by 6.2% during the 4th quarter. Peak Financial Advisors LLC now owns 12,899 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 752 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of CareTrust REIT by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 116,106 shares of the real estate investment trust’s stock worth $2,156,000 after purchasing an additional 912 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of CareTrust REIT by 15.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,233,290 shares of the real estate investment trust’s stock worth $58,554,000 after purchasing an additional 442,953 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in CareTrust REIT during the 3rd quarter worth $525,000. Finally, Ascent Group LLC acquired a new stake in CareTrust REIT during the 3rd quarter worth $627,000. 85.01% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $19.29 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.95. CareTrust REIT has a 52 week low of $15.90 and a 52 week high of $22.84. The stock has a market capitalization of $1.87 billion, a PE ratio of -482.25 and a beta of 1.11. The firm has a 50 day moving average of $19.23 and a two-hundred day moving average of $19.49.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $1.10 annualized dividend and a dividend yield of 5.70%. CareTrust REIT’s dividend payout ratio (DPR) is currently -2,750.00%.

CareTrust REIT Company Profile

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CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.

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