CareTrust REIT (NASDAQ:CTRE) PT Raised to $31.00

CareTrust REIT (NASDAQ:CTRE – Free Report) Their target price was upped by Royal Bank of Canada from $27.00 to $31.00 in a report on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts have recently issued reports on CTRE. Deutsche Bank Aktiengesellschaft raised their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a hold rating in a research report on Monday, July 1st. Wells Fargo & Company upped their target price on CareTrust REIT from $24.00 to $26.00 and gave the company an equal weight rating in a report on Thursday, May 30th. Wedbush started coverage on CareTrust REIT in a research note on Wednesday, May 29th. They set a neutral rating and a $26.00 price target for the company. Finally, KeyCorp boosted their price objective on shares of CareTrust REIT from $25.00 to $27.00 and gave the company an overweight rating in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $26.67, according to data from MarketBeat.com.

Check out the latest stock report on CTRE

CareTrust REIT traded up 0.6%

Shares of CTRE stock opened at $28.88 on Thursday. The company has a market cap of $4.10 billion, a P/E ratio of 55.54 and a beta of 1.09. The company has a current ratio of 12.80, a quick ratio of 12.80, and a debt-to-equity ratio of 0.36. The company’s 50-day moving average is $26.49, and its two-hundred-day moving average is $24.89. CareTrust REIT has a 12-month low of $19.66 and a 12-month high of $29.00.

CareTrust REIT (NASDAQ:CTRE – Get Free Report ) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The firm had revenue of $68.89 million during the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 5.31%. In the same quarter last year, the business earned $0.35 EPS. equities analysts anticipate that CareTrust REIT will post 1.47 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.29 per share. This represents a dividend of $1.16 on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Friday, June 28th. CareTrust REIT’s payout ratio is currently 223.08%.

Institutional inputs and outputs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of CareTrust REIT by 13.3% in the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after buying an additional 2,376,832 shares in the last quarter. Centersquare Investment Management LLC raised its stake in CareTrust REIT by 1.6% in the first quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock worth $70,924,000 after acquiring an additional 45,733 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CareTrust REIT by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock valued at $51,626,000 after acquiring an additional 281,120 shares during the last quarter. Zimmer Partners LP acquired a new position in shares of CareTrust REIT in the first quarter worth $41,763,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CareTrust REIT by 13.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,498 shares of the real estate investment trust’s stock worth $38,326,000 after buying an additional 209,500 shares in the last quarter. 87.77% of the shares are currently held by hedge funds and other institutional investors.

About CareTrust REIT

(Get a free report)

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

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