Wells Fargo & Co upgraded shares of Caretrust REIT (NASDAQ:CTRE) from a market perform rating to an outperform rating in a research report released on Tuesday, December 19th, Marketbeat Ratings reports. Wells Fargo & Co currently has $20.00 price target on the real estate investment trust’s stock.
A number of other research firms have also issued reports on CTRE. BidaskClub lowered shares of Caretrust REIT from a sell rating to a strong sell rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered shares of Caretrust REIT from a buy rating to a hold rating in a research report on Tuesday, November 21st. BMO Capital Markets reaffirmed a hold rating and set a $20.00 price objective on shares of Caretrust REIT in a research report on Thursday, November 9th. Stifel Nicolaus reaffirmed a hold rating and set a $19.00 price objective (up previously from $17.00) on shares of Caretrust REIT in a research report on Thursday, November 9th. Finally, KeyCorp set a $20.00 price target on shares of Caretrust REIT and gave the company a buy rating in a research report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $19.88.
Caretrust REIT (NASDAQ CTRE) traded down $0.18 during trading hours on Tuesday, hitting $15.69. 638,000 shares of the stock traded hands, compared to its average volume of 645,046. Caretrust REIT has a one year low of $14.71 and a one year high of $19.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $1,190.00, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.50 and a beta of 0.67.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.74 annualized dividend and a dividend yield of 4.72%. Caretrust REIT’s payout ratio is 160.87%.
Institutional investors and hedge funds have recently bought and sold shares of the business. IndexIQ Advisors LLC boosted its stake in Caretrust REIT by 22.7% during the second quarter. IndexIQ Advisors LLC now owns 86,619 shares of the real estate investment trust’s stock worth $1,606,000 after buying an additional 15,999 shares in the last quarter. Citigroup Inc. boosted its stake in Caretrust REIT by 12.3% during the second quarter. Citigroup Inc. now owns 81,318 shares of the real estate investment trust’s stock worth $1,508,000 after buying an additional 8,909 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Caretrust REIT by 27.6% during the second quarter. BNP Paribas Arbitrage SA now owns 45,843 shares of the real estate investment trust’s stock worth $850,000 after buying an additional 9,918 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Caretrust REIT by 94.6% in the 3rd quarter. Schroder Investment Management Group now owns 19,270 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 9,370 shares in the last quarter. Finally, Cipher Capital LP boosted its stake in shares of Caretrust REIT by 119.6% in the 3rd quarter. Cipher Capital LP now owns 150,995 shares of the real estate investment trust’s stock valued at $2,875,000 after purchasing an additional 82,226 shares in the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.
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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.
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