Caretrust REIT Inc (NASDAQ:CTRE) has earned a consensus rating of “Hold” from the ten research firms that are currently covering the firm. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.42.
CTRE has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Caretrust REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. BMO Capital Markets reiterated a “buy” rating and set a $16.00 price objective on shares of Caretrust REIT in a research note on Monday, March 20th. Royal Bank of Canada downgraded shares of Caretrust REIT from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective on the stock. in a research note on Tuesday, January 3rd. They noted that the move was a valuation call. Finally, Canaccord Genuity increased their target price on shares of Caretrust REIT from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, March 30th.
ILLEGAL ACTIVITY NOTICE: This piece was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.chaffeybreeze.com/2017/04/20/brokerages-set-caretrust-reit-inc-ctre-pt-at-16-08-updated.html.
Caretrust REIT (NASDAQ:CTRE) traded up 1.19% during midday trading on Monday, hitting $17.80. The company’s stock had a trading volume of 205,101 shares. Caretrust REIT has a 52-week low of $12.53 and a 52-week high of $17.84. The stock has a 50 day moving average of $16.25 and a 200 day moving average of $15.12. The company has a market cap of $1.18 billion, a PE ratio of 34.30 and a beta of 0.93.
Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, February 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.14. Caretrust REIT had a net margin of 28.04% and a return on equity of 7.62%. The firm had revenue of $28.20 million for the quarter, compared to the consensus estimate of $27.36 million. During the same period last year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 24.8% on a year-over-year basis. On average, equities analysts expect that Caretrust REIT will post $0.61 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were given a dividend of $0.185 per share. This is a boost from Caretrust REIT’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, March 29th. This represents a $0.74 dividend on an annualized basis and a yield of 4.21%.
Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Caretrust REIT by 98.9% in the third quarter. Bank of New York Mellon Corp now owns 2,167,755 shares of the real estate investment trust’s stock worth $32,039,000 after buying an additional 1,078,048 shares during the last quarter. Boston Advisors LLC bought a new position in Caretrust REIT during the third quarter worth about $6,224,000. State Street Corp boosted its position in Caretrust REIT by 29.6% in the fourth quarter. State Street Corp now owns 1,558,984 shares of the real estate investment trust’s stock worth $23,883,000 after buying an additional 355,799 shares in the last quarter. BlackRock Fund Advisors boosted its position in Caretrust REIT by 8.7% in the third quarter. BlackRock Fund Advisors now owns 4,243,893 shares of the real estate investment trust’s stock worth $62,725,000 after buying an additional 339,028 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Caretrust REIT by 10.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,868,986 shares of the real estate investment trust’s stock worth $27,624,000 after buying an additional 172,544 shares in the last quarter. 77.45% of the stock is owned by institutional investors.
Caretrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
Receive News & Ratings for Caretrust REIT Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caretrust REIT Inc and related companies with MarketBeat.com's FREE daily email newsletter.