Shares of Caretrust REIT Inc (NASDAQ:CTRE) have received a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $21.43.
CTRE has been the topic of a number of recent research reports. TheStreet cut Caretrust REIT from a “b-” rating to a “c+” rating in a research note on Thursday, April 2nd. Mizuho raised Caretrust REIT from an “underperform” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $13.00 in a research note on Monday, April 6th. Zacks Investment Research upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a report on Monday, June 22nd. Wells Fargo & Co increased their target price on shares of Caretrust REIT from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Finally, BidaskClub lowered shares of Caretrust REIT from a “hold” rating to a “sell” rating in a report on Tuesday, June 23rd.
A number of institutional investors and hedge funds have recently modified their holdings of CTRE. First Trust Advisors LP lifted its holdings in Caretrust REIT by 37.7% in the first quarter. First Trust Advisors LP now owns 171,743 shares of the real estate investment trust’s stock worth $4,029,000 after buying an additional 47,027 shares during the period. Swiss National Bank lifted its holdings in shares of Caretrust REIT by 2.0% during the fourth quarter. Swiss National Bank now owns 182,949 shares of the real estate investment trust’s stock valued at $3,774,000 after purchasing an additional 3,500 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Caretrust REIT by 66.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,405,697 shares of the real estate investment trust’s stock valued at $29,000,000 after purchasing an additional 560,572 shares during the last quarter. FMR LLC lifted its holdings in shares of Caretrust REIT by 70.5% during the fourth quarter. FMR LLC now owns 5,546,279 shares of the real estate investment trust’s stock valued at $114,420,000 after purchasing an additional 2,293,115 shares during the last quarter. Finally, Meitav Dash Investments Ltd. purchased a new position in shares of Caretrust REIT during the fourth quarter valued at approximately $710,000. Institutional investors and hedge funds own 90.86% of the company’s stock.
Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.14). Caretrust REIT had a net margin of 29.53% and a return on equity of 5.32%. The company had revenue of $44.34 million for the quarter, compared to the consensus estimate of $43.20 million. Sell-side analysts expect that Caretrust REIT will post 1.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.00 annualized dividend and a yield of 5.83%. Caretrust REIT’s dividend payout ratio (DPR) is presently 73.53%.
Caretrust REIT Company Profile
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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