CareTrust REIT (NASDAQ:CTRE) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT (NASDAQ:CTRE) from a hold rating to a buy rating in a research report sent to investors on Thursday, Marketbeat.com reports. They currently have $31.00 price target on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company lowered their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada lowered their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Stock Up 2.3 %

Shares of CareTrust REIT stock opened at $28.35 on Thursday. The stock’s fifty day moving average is $26.42 and its 200-day moving average is $28.67. The firm has a market capitalization of $5.32 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT has a 12-month low of $23.26 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the business earned $0.25 EPS. Equities analysts anticipate that CareTrust REIT will post 1.71 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.09%. CareTrust REIT’s dividend payout ratio (DPR) is currently 146.84%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTRE. Quantinno Capital Management LP boosted its stake in shares of CareTrust REIT by 2.3% during the 4th quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 385 shares in the last quarter. Signaturefd LLC boosted its stake in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 443 shares in the last quarter. WealthShield Partners LLC boosted its stake in shares of CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after acquiring an additional 490 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after acquiring an additional 534 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of CareTrust REIT by 5.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.