Caretrust REIT (CTRE) Hits New 52-Week High at $19.49

Caretrust REIT Inc (NASDAQ:CTRE) hit a new 52-week high on Thursday . The stock traded as high as $19.49 and last traded at $19.61, with a volume of 397156 shares. The stock had previously closed at $19.30.

Several brokerages have recently weighed in on CTRE. BidaskClub upgraded shares of Caretrust REIT from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research note on Wednesday. KeyCorp increased their target price on shares of Caretrust REIT from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Cantor Fitzgerald reiterated a “buy” rating and set a $20.00 target price on shares of Caretrust REIT in a research note on Monday, November 5th. Finally, ValuEngine upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $18.38.

The firm has a market capitalization of $1.62 billion, a PE ratio of 16.71, a PEG ratio of 3.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.65 and a current ratio of 1.52.

Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.14). The firm had revenue of $39.50 million for the quarter, compared to analysts’ expectations of $39.37 million. Caretrust REIT had a return on equity of 7.01% and a net margin of 29.14%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, analysts anticipate that Caretrust REIT Inc will post 1.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a dividend of $0.205 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.82 annualized dividend and a yield of 4.23%. Caretrust REIT’s dividend payout ratio is currently 70.69%.

A number of hedge funds and other institutional investors have recently bought and sold shares of CTRE. Dimensional Fund Advisors LP raised its holdings in Caretrust REIT by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,086,730 shares of the real estate investment trust’s stock worth $14,562,000 after purchasing an additional 50,537 shares in the last quarter. Legal & General Group Plc raised its holdings in Caretrust REIT by 11.1% during the first quarter. Legal & General Group Plc now owns 362,927 shares of the real estate investment trust’s stock worth $4,867,000 after purchasing an additional 36,353 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Caretrust REIT by 102.4% during the first quarter. Xact Kapitalforvaltning AB now owns 21,146 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 10,700 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Caretrust REIT by 3.1% during the first quarter. Principal Financial Group Inc. now owns 683,847 shares of the real estate investment trust’s stock worth $9,163,000 after purchasing an additional 20,416 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new position in Caretrust REIT during the first quarter worth about $135,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

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About Caretrust REIT (NASDAQ:CTRE)

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 189 net-leased healthcare properties and three operated seniors housing properties in 25 states, CareTrust REIT 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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